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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