Personal Finance

Goal
Something a person intends to acquire, achieve, reach, or accomplish.
Specific
Exact, clearly defined or explained
Measurable
A figure that can be objectively assessed---e.g, a measurable cost or time.
Attainable
Able to be reached---e.g., a budget amount that can be realized.
Realistic
In keeping with reality, likely to happen.
time-bound
Containing a date when a goal will be reached
Alternative
An option or choice
Pro
A reason in favor of an option; a potential benefit.
Con
reason in opposition to an option; a potential limitation or weakness.
Impulse
A whim or sudden desire to do something; acting without thinking.
Habit
A learned behavior that is repeated over and over, usually without thinking.
Cultural
Related to the traditions, beliefs, roles, and communication styles of a group
Societal
Related to all people, collectively
Demographic
Statistical data about a population.
Economic
Related to the state of the economy, the financial balance of a population.
Technology
Products, resources, and systems used for specific purposes.
Media
Print, sound, and image channels through which information is conveyed
Legal
Related to the law
Moral
Related to a sense of right and wrong.
Need
Something one must have in order to live
Want
Something one desires to improve quality of living that is not required to live
Value
A fundamental belief about what is desirable and worthwhile
Standard
A measure of quality or excellence
Priority
The relative importance a person places on a value, goal, or alternative.
age
How old you are.
dependents
relying on someone or something else for aid, support, etc.
economic outlook
What is your outlook on the economy.
education level
The level of education you have learned.
employment status
Employment discrimination, also known as workplace discrimination
health condition
Blurred vision is usually a sign of a serious health condition
marital status
the condition of being married or unmarried.
wealth
The amount of money you have.
basic wealth protection
Protection agianst buissness planning.
wealth accumulation
your monthly salary.
wealth distribution
comparision of wealth.
beginning family
a coupke that has just had thier first child.
expanding family
a family with a large amount of siblings.
parenting family
a family that loves to have children.
launching family
a family that is always on the road.
mid-years family
Family around thier 30's - 40's.
aging family
when a family is getting older.
variations
the act, process, or accident of varying in condition, character, or degree: Prices are subject to variation
failure to plan
Not making shopping lists, spending plans, doing comparison shopping, etc.
failure to protect
Not securing personal information and property
failure to be informed
Not reading labels, fine print, contracts, sales offers, etc.
failure to communicate
Not asking questions, discussing purchases, saying “no” when needed
scam/scheme
A plot designed to trick someone; a deception
illegal
Against the law
lie/lying
To tell an untruth/the habit or practice of telling untruths
concealing information
Hiding information; hiding the truth
pyramid
A scam that usually involves a “get rich quick” chain letter, sending money to others in order to, supposedly, receive money in the mail yourself
chain letter
A letter asking one to send several letters with money in order to, supposedly, receive money in the mail yourself
high-pressure sales approach
Using extreme tactics to persuade a consumer to buy
vague offers
Offers that withhold certain details, expecting one to pay up front to get them
sweepstakes letter
States that one has won a valuable prize, but must pay a fee to claim it
lottery
Prizes awarded by chance after purchase of a ticket; very small chance of winning
earn-money-at-home offers
Offers that hinge on a consumer first purchasing something
condition
A stipulation or prerequisite
winning bid at auctions
A scam artist my notify you that you have the winning bid, ask for money, but never ship the item purchased
identity theft
Stealing one’s personal information to commit theft or fraud
media
Means of communicating---e.g., word of mouth, telephone, texting, emails, etc.
Federal Trade Commission
FTC; a government agency to assist consumers who’ve been victims of fraud
National Consumers League
Has a website where incidents of consumer fraud may be reported
Better Business Bureau
A local consumer protection agency
State Attorney General
This state office assists consumers who have been victimized by fraud