Section 1.1 Personal Finance Basics 13
¶ Resources are related to one another. You can often combine several resources to
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buy a big-ticket item, such as a car. In addition, one resource may be needed
to produce or make use of another. You could use your talent and skills
to get a job and earn money. Finally, you can use one resource to make up
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money, you can check several stores for the best values before buying.
Practicing good resource management will help you reach your goals.
Consider these questions:
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Checkpoint 1.1
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takes to reach them.
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goals.
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Build Your Vocabulary
As you progress through this course, develop a personal glossary of
personal finance terms and add it to your portfolio. This will help you build
your vocabulary and prepare you for a career. Write a definition for each of
the following terms and add it to your personal finance glossary.
financial planning
financial security
financial literacy
management
goods
services
needs
wants
values
value system
ethics
goal
priority
standard
resources