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Financial Literacy Terms

Financial literacy involves understanding essential concepts that can transform your relationship with money. Delayed gratification is crucial for achieving long-term financial goals, while recognizing the emotional components can help manage spending behavior. Building an emergency fund prepares you for unforeseen expenses, reducing the urge for impulse buys. Keeping a running total of your expenses ensures better budgeting, and navigating the needs vs. wants continuum aids in making informed financial decisions. Mastering these terms is vital for a secure financial future.

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Financial Literacy Terms

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  1. Financial Literacy Terms • Delayed Gratification • Emotional Component of money • Emergency Fund • Impulse buy • Running total • Continuum • Needs vs. Wants

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