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2-29-12
finance vocab 2/29/12
21
Finance
10th Grade
03/01/2012

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Cards

Term
Lifestyle conditions
Definition

Factors about the way a person lives & works that affect his/her financial income needs and expenses.

Term
Age
Definition
Set of consecutive ages that tend to have similar incomes, needs and expenses.
Term
dependents
Definition
People who rely on another person for primary financial support. ; children , spouse , other family members.
Term
economic outlook
Definition
The state of the economy whether favorable or unfavorable as measured by economic indicators including interest & unemployment rates.
Term
education level
Definition
Highest grade in school or degree completed
Term
employment status
Definition
A persons work circumstances whether employed, unemployed, full time, part time self or other employ.
Term
Health Conditions
Definition
A person’s health factors, whether sick or well, able or disabled, injured or not.
Term
Marital status
Definition
Married , single , divorced or single
Term
Financial life cycle
Definition
Typical stages of wealth a person accumulates during their life cycle.
Term
Wealth
Definition
The sum total of assets belonging to one person including money. Property & personal possessions.
Term
Basic wealth protection
Definition
The stage during which most people form a family, begin to work and earn money
Term
Wealth Accumulation
Definition
The stage that includes the peak earning years, giving money to oneself
Term
Wealth Distribution
Definition
The stage that includes the peak earning years, giving money to oneself
Term
Idividual and Family Life Cycles 
Definition
Typical stages of life for individuals and families
Term
Begining Family
Definition
A family of young adults ; newlyweds
Term
Expanding Family
Definition
A child-bearing family; has one or more young children
Term
Parenting Family
Definition
A developing family, with children growing into middle childhood and early teens
Term
Launching Family
Definition
A family with middle aged parents and children
Term
mid-years family
Definition
A pre-retirement family, no children at home
Term
Aging family
Definition
mid-years family
Term
Variations
Definition
Families that do not follow the “typical” life cycle stages
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