Chapter 28: Managing Personal Finances

A(n) ________, sometimes called a tradeoff, is what you give up when you make one choice instead of another.

A(n) ________ occurs when more money is spent than is earned or received.

A(n) ________ is extra money that can be spent or saved, depending on a persons goals and values.

________ refers to all the things in your life that involve money.

________: It is important to consider your options before making a decision.

________ is a method of planning to get the most from ones money.

________: Risk Interest rates rise and fall, which may affect the cost of borrowing or the profits you earn when you save or invest.

When making ________, the Internet is a good place to get information on social and economic conditions.

________ is necessary for consumers, businesses, and governments.

Once you have determined your financial situation, you will be able to start planning

To develop clear financial goals, you will need to think about your attitude toward money

It is important to consider your options before making a decision

When you evaluate your alternatives, use the sources of financial information that are available

A plan of action is a list of ways to achieve your financial goals

You should reevaluate and revise it every year

Inflation is a general increase in the cost of goods and services

Risk Interest rates rise and fall, which may affect the cost of borrowing or the profits you earn when you save or invest

Your income may rise or fall

Some choices increase risk

You may have to withdraw your savings or investments