4. Financial Goals

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Last updated 1:13 PM on 7/14/26
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8 Terms

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4 types of Money Personalities

Spender, Saver, investor, Balancer

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SMART Goals

Specific, Measurable, Achievable, Relevant, Time

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Present Bias

Caring too much for the present and fail to account for the future

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Anchoring Bias

Relying too much on the first piece(anchor) of information

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Financial Plan

Budget, savings, debt repayment, investing

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Net worth

Assets - Liabilities

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How does charity differ from organizations and fundraisers?

It can earn tax return and it is registered/ recognized by government or municipal body

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Endowment Effect

Overpricing an item in comparison to market value just because you own it