personal finance. what is personal finance? personal finance is the application of the principles of...

Personal Finance

What is Personal Finance?

• Personal finance is the application of the principles of finance to the monetary decisions of an individual or family unit. ....

• Personal finance is the process of effectively managing assets in the possession of an individual or a family.

Personal Finance Diary

• Place the title and your name on the cover. Decorate as you wish.

• Each page gets a title. Titles are:– Income– Spending and Saving– Credit and Debt– Jobs vs Careers– Investing– Banking

Vocabulary

1. Income2. Spending3. Saving4. Debt5. Credit (credit cards)6. Job7. Career8. Banking9. Investing

Income

• Money received, esp. on a regular basis, for work or through investments

• revenue - earnings - proceeds - profit - yield - gainings

Spending

• Pay out (money) in buying or hiring goods or services: "they spent $100,000 on hardware and software".

• An economy of or reduction in money, time, or another resource.

• income not spent, or deferred consumption

• rescue - salvation - economy - thrift

Saving

Debt

• Something, typically money, that is owed or due

• The state of owing money

• obligation - indebtedness - debit - liability - loan

Credit (credit cards)

• The ability to obtain goods or services before payment, based on the trust that payment will be made in the future.

• trust - faith - credence - honour - honor - belief

• A paid position of regular employment.

• Do casual or occasional work.

• work - occupation - employment - business - position

Job

Career

• An occupation undertaken for a significant period of a person's life and with opportunities for progress.

• profession - occupation

Banking

• The business conducted or services offered by a bank.

Investing

• Expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property.

• To commit (money or capital) in order to gain a financial return