66 Chapter 2 Making Smart Decisions
Chapter Summary
Section 2.1 Your Personal Financial Landscape
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a plan for achieving your financial goals. Achieving financial security
requires financial literacy and lifetime planning.
@ b‘rg eknv rs‘sdldms rgnvr sgd ‘lntms ne lnmdx qdbdhudc ‘mc sgd
amount paid for goods and services during a specific period.
@ mds vnqsg rs‘sdldms rgnvr xntq btqqdms ehm‘mbh‘k rhst‘shnmˇsgd
difference between what you own and what you owe. A periodic net
worth statement charts progress and is an important tool.
Section 2.2 Documentation
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documents, called recordkeeping, is an important part of managing your
finances effectively. Knowing what to keep and where to file important
documents can help you manage your financial affairs.
Lnmdxl‘m‘fdldmsrnesv‘qdb‘mgdkoxntnqf‘mhydc‘hkxehm‘mbdr‘mc
keep track of income, spending, saving, debts, investments, and other
financial data.
Section 2.3 Young Adult and Family Finances
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‘mco‘xhmfs‘wdr-
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and stage in the family life cycle are important factors affecting family
financial decisions.
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parent families, and divorced or separated adults. Your goals and needs
will change with each stage.
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debt under control, getting a good education and job training, and having
an emergency fund.
Now that you have finished the chapter, see what you
learned about personal finance by taking the chapter
posttest. If you do not have a smartphone, visit the G-W
Learning companion website.
G-W Learning mobile site: www.m.g-wlearning.com
G-W Learning companion website: www.g-wlearning.com
Check Your Personal Finance IQ
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66 Chapter 2 Making Smart Decisions
Chapter Summary
Section 2.1 Your Personal Financial Landscape
Trhmf‘atcfds+xntb‘m‘m‘kxydxntqhmbnld‘mcdwodmrdr‘mcbqd‘sd
a plan for achieving your financial goals. Achieving financial security
requires financial literacy and lifetime planning.
@ b‘rg eknv rs‘sdldms rgnvr sgd ‘lntms ne lnmdx qdbdhudc ‘mc sgd
amount paid for goods and services during a specific period.
@ mds vnqsg rs‘sdldms rgnvr xntq btqqdms ehm‘mbh‘k rhst‘shnmˇsgd
difference between what you own and what you owe. A periodic net
worth statement charts progress and is an important tool.
Section 2.2 Documentation
Sgd oqnbdrr ne rdsshmf to ‘m nqf‘mhydc rxrsdl enq ehm‘mbh‘k ‘mc kdf‘k
documents, called recordkeeping, is an important part of managing your
finances effectively. Knowing what to keep and where to file important
documents can help you manage your financial affairs.
Lnmdxl‘m‘fdldmsrnesv‘qdb‘mgdkoxntnqf‘mhydc‘hkxehm‘mbdr‘mc
keep track of income, spending, saving, debts, investments, and other
financial data.
Section 2.3 Young Adult and Family Finances
@r‘m‘ctks+xntqlnmdxl‘m‘fdldms‘bshuhshdrvhkkdwo‘mcsnhmbktcd
jddohmf sq‘bj ne hmbnld ‘mc dwodmrdr+ o‘xhmf ahkkr+ r‘uhmf+ hmudrshmf+
‘mco‘xhmfs‘wdr-
Sgd e‘lhkx khed bxbkd qdedqr sn sgd rs‘fdr ‘ e‘lhkx o‘rrdr sgqntfg-@fd
and stage in the family life cycle are important factors affecting family
financial decisions.
U‘qh‘shnmrhmsgde‘lhkxkhedbxbkdhmbktcdrhmfkdr+bghkckdrrbntokdr+rhmfkd
parent families, and divorced or separated adults. Your goals and needs
will change with each stage.
Xntb‘mnesdm‘unhcehm‘mbh‘ksqntakdaxkhuhmfvhsghmxntqld‘mr+jddohmf
debt under control, getting a good education and job training, and having
an emergency fund.
Now that you have finished the chapter, see what you
learned about personal finance by taking the chapter
posttest. If you do not have a smartphone, visit the G-W
Learning companion website.
G-W Learning mobile site: www.m.g-wlearning.com
G-W Learning companion website: www.g-wlearning.com
Check Your Personal Finance IQ

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