What is the correct order of the financial planning process? Determine current financial situation, develop your financial goals, identify alternative courses of action, evaluate alternatives, create and implement your financial action plan, review and revise the financial plan Identify alternative courses of action, determine current financial situation, develop your financial goals, evaluate alternatives, create and implement your financial action plan, review and revise the financial plan Develop your financial goals, determine current financial situation, evaluate alternatives, identify alternative courses of action, create and implement your financial action plan, review and revise the financial plan Evaluate alternatives, determine current financial situation, develop your financial goals, identify alternative courses of action, create and implement your financial action plan, review and revise the financial plan

Determine current financial situation, develop your financial goals, identify alternative courses of action, evaluate alternatives, create and implement your financial action plan, review and revise the financial plan

What is the goal of the Federal Reserve when it sets one interest rate? Slow inflation and return growth to more sustainable levels Boost consumer spending Increase employment rates Enhance international trade

Slow inflation and return growth to more sustainable levels

Personal Financial Planning: Goal Setting, Decision Making & Time Value of Money Concepts

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Finance - Personal Finance

andrsonztdc Created by 10 mon ago

Cards in this deck(100)

What is the process of managing your money to achieve personal economic satisfaction called?

What is the correct order of the financial planning process?

Where can inflation come from when the total demand for goods and services exceeds the supply?

What is the goal of the Federal Reserve when it sets one interest rate?

In the context of SMART goals, what does the 'S' stand for?

In the context of SMART goals, what does the 'M' stand for?

In the context of SMART goals, what does the 'A' stand for?

In the context of SMART goals, what does the 'R' stand for?

In the context of SMART goals, what does the 'T' stand for?

What does TVOM stand for in financial terms?

What increases as a result of interest earned in the context of the time value of money?

What must be considered with saving and spending decisions?

How do you compute interest using the formula: Savings x annual interest x time = _____?

What do career choice and professional development alternatives have?

What is defined as a long-term commitment to a particular profession?

What is defined as earning money without considering long-term advancement?

What refers to specialized career training for a specific profession?

What are traits adaptable to most work situations, often referred to as social intelligence?

What is the correct order in the career decision-making process?

What are some factors that influence employment opportunities?

What is the social influence on employment opportunities?

What is the economic influence on employment opportunities?

What is the industry influence on employment opportunities?

What are the main sources of networking?

What are some ways to practice effective networking?

What is a resume?

What is the most common type of resume?

What is a cover letter?

What are some ways to prepare for an interview?

What are cafeteria-style benefits?

What are some skills and attitudes that can help in long-term career development?

What should you use to compare job offer benefits?

What does opportunity cost apply to?

What is money management?

What is the main purpose of personal financial statements?

What is a personal balance sheet?

What is another name for a personal balance sheet?

What are assets?

What are liabilities?

What are examples of assets?

What is the formula for net worth?

What is the formula to find assets?

What is the debt ratio formula?

What is insolvency?

What is net worth?

What are ways to increase net worth?

What is the income (cash flow) statement?

How do you find the cash surplus or deficit on the income statement?

What is the 1st step in the career decision-making process?

What is the 2nd step in the career decision-making process?

What is the 3rd step in the career decision-making process?

What is the 4th step in the career decision-making process?

What is the 5th step in the career decision-making process?

What is the 6th step in the career decision-making process?

What is the 1st step in the financial planning process?

What is the 2nd step of the financial planning process?

What is the 3rd step in the financial planning process?

What is the 4th step in the financial planning process?

What is the 5th step in the financial planning process?

What is the 6th step in the financial planning process?

What is the process for preparing a cash flow statement?

What is the difference between income and outflows?

What does a surplus in net cash flow do for your net worth?

What are the types of taxes?

What are taxes on purchases?

What are taxes on property?

What are taxes on investing?

What are taxes on earnings?

What is an inheritance tax?

What is an excise tax?

What is a gift tax?

What is an estate tax?

What is interest in the context of investment income?

What is earned income taxed as?

What happens to stock held for over a year and sold as profit?

What happens to a stock held for less than a year?

What is interest taxed as in investment income?

What is passive income?

What does a deficit do to your net worth?

What are the steps in calculating taxable income?

What is a tax credit?

What is a tax deduction?

How do you know your average tax rate?

Who must file a federal income tax return?

What are the filing statuses?

What are the tax forms?

What is a 1040 tax form?

What is a W4 tax form?

What is the W2 tax form?

What are some tax assistance sources?

Why would you use tax assistance?

What is a tax deferral?

What are tax exemptions?

How can you minimize taxes owed?

What is the investment (capital gains) tax strategy?

What are some frequently made mistakes in money management?

What are asset management accounts?

What are the opportunity costs of financial services?

What should you do when interest rates are rising?

What should you do when interest rates are falling?

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