personal finance

liquidity

The ability to easily convert your financial assets into cash without a loss in value is called:

personal financial planning

is arranging to spend, save, & invest money to live well, have security, & achieve goals

resume

a summary of your education, training, experience, and qualifications is called a

cover letter

is a letter stating the position you are applying for & why you are best suited for it

aptitudes

Natural abilities to learn or do something

career

General course of your working life

values

are beliefs and principles you consider important, correct, and desirable

inflation

is the rise in the level of prices for goods and services over time

consumable/durable

____________ are things we buy & use often, while _____________ tend to last a long(er) time

opportunity cost

When you give up something when you make one choice instead of another, it is called a(n)

internship

Position w/ a company or organization intended to provide on-the-job training

interest

The cost to borrow money

intangible/services

______________goods are goods that cannot be touched, & ______________ are tasks done for you

standard of living

Level of wealth, material goods, and necessities considered to be essential

interest inventory

Test or research activity designed to help an individual find a suitable career path

supply/demand

_____________ is the availability of a good or service while ___________ is the desire to have it

What are some advantages of having a financial plan?

having financial security

more money to have in the future

important benefits to compare when considering jobs

salary

training

benefits

ways to earn work related experience

internship

volunteering

part time job/ shadow

3 risks of financial borrowing

interest - cost of borrowing

inflation - increase in prices

liquidity - converted to cash

things to help with school cost

FAFSA, scholarships, saving now