Personal Financial Planning

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Last updated 5:32 AM on 10/8/26
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13 Terms

1
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SMART goals stand for what?

Specific, measurable, attainable, relevant, timely

2
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Diff between anticipated and unanticipated income?

ant - yk, same amt of $ un - ydk

3
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what are the 3 expenses?

anticipated, unanticipated, and variable

4
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tax refund = ?

unanticipated income

5
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3 R’s = ?

Realistic, Restraint, and Responsible

6
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net worth calc?

total assets - total liabibities

7
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high income always has higher net worth than lower income - true or false

false

8
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long term usually has to have short term goals first - true or false

true

9
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monthly bill = ?

liability

10
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debt = ?

amount owed

11
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wealth = ?

your total amount of valuable assets owned

12
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what amount can an estate be federally taxed?

like above a certain % ig

13
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beneficiary = ?

an individual designated to receive assets or benefits from a will, trust, or insurance policy.