Financial Planning Vocabulary

noun a recommendation or suggestion about a decision or course of action

• I sought advice from a professional before making a decision.
• My friend gave me some advice on how to fix my computer.
• I got some solid advice from my bro on how to ask her out.
• Sometimes the best advice is to just follow your heart.

verb to give advice or recommend a course of action

• I advise you to carefully consider all the options before making a decision.
• I advise you to go with the blue dress for the party.
• I'd advise you to chill out and not stress over it.
• Sometimes the heart advises what the mind cannot understand.

verb to give advice or recommend a course of action

• The doctor advised the patient to follow a strict diet and exercise regimen.
• My mom advised me to take an umbrella because it might rain later.
• My friend advised me to swipe left on that guy's profile, he seems sketchy.
• The wise old man advised the young prince to always listen to his heart.

verb to achieve or accomplish something, to reach a goal or objective

• Education is often seen as the key to attain success in life.
• If you study hard, you can attain good grades in school.
• I'm working hard to attain that promotion at work.
• Through hard work and dedication, you can attain your dreams.

noun an estimate of income and expenditure for a set period of time

verb to plan or allocate funds according to a budget

• The company needs to adhere to a strict budget in order to stay profitable.
• Let's make sure we don't overspend and stick to our budget.
• I'm on a tight budget this month, so I can't afford to go out to eat.
• His creativity knows no bounds when it comes to working within a limited budget.

noun a small piece of something

verb to contribute money or effort towards a cause or project

preposition used to indicate contributing or adding to something

• It would be greatly appreciated if everyone could chip in for the office party.
• Hey, can you chip in a few bucks for pizza?
• Let's all chip in and buy some snacks for the road trip.
• We all need to chip in and help out with the project to get it done on time.

noun a plan, idea, or invention, especially one that is clever or original

verb to plan, invent, or create (a strategy, system, or object)

• The team of engineers worked together to devise a new solution to the complex problem.
• Let's all put our heads together and devise a plan to tackle this issue.
• We need to brainstorm and come up with a way to devise a workaround for this problem.
• She had to devise a strategy to navigate through the difficult situation.

verb to manage or cope without something

preposition used to indicate the absence or lack of something

• In order to achieve success, we must learn to do without certain luxuries.
• I can't do without my morning coffee, it's a necessity for me.
• I don't know how I'll do without my phone for a whole day, it's like my lifeline.
• Sometimes in life, we have to do without certain things in order to appreciate what we have.

noun a provision in a law or budget that sets aside funds for a specific purpose

verb to designate or set aside for a specific purpose or use

• The government decided to earmark a portion of the budget for infrastructure development.
• Let's earmark some money for our next vacation.
• I'm going to earmark some cash for the concert tickets.
• She always earmarks a special place in her heart for stray animals.

noun A person or institution appointed by a testator to carry out the terms of their will.

• The executor of the will is responsible for carrying out the deceased person's wishes.
• My aunt is the executor of my grandfather's estate.
• I heard that the executor of the company's layoffs is facing backlash from the employees.
• As the team captain, she acted as the executor of the coach's game plan on the field.

adjective describing something that is advantageous or beneficial

• The company's financial report showed a favorable increase in profits this quarter.
• The weather forecast is looking favorable for our picnic this weekend.
• I heard the reviews for the new restaurant were really favorable.
• His charming personality makes him quite favorable in social situations.

adjective showing prudence and foresight; thrifty; economical

• She was very forehanded in her financial planning, always saving for unexpected expenses.
• I like to be forehanded with my chores so I don't have to rush at the last minute.
• He's so forehanded, always thinking ahead and being prepared for anything.
• Being forehanded in decision-making can lead to better outcomes in the long run.

noun a new beginning or opportunity to start over

adjective new or not previously used or experienced

• After the company faced financial difficulties, they decided to restructure and take a fresh start.
• I'm really looking forward to moving to a new city and getting a fresh start.
• I broke up with my ex and now I'm single and ready for a fresh start.
• The sunrise symbolizes a fresh start and new opportunities every day.

adverb describes how something is done or the manner in which an action is performed

preposition shows the relationship between a noun (or pronoun) and other words in a sentence

• The company keeps extra inventory in reserve to meet unexpected demand.
• I always have some cash in reserve for emergencies.
• I've got a backup plan in reserve just in case things go south.
• She kept her emotions in reserve, not wanting to show how upset she really was.

adjective not able to be changed, reversed, or recovered; final

• Once you sign the contract, it becomes irrevocable.
• I made an irrevocable decision to quit my job and travel the world.
• Dude, once you hit send, that text is irrevocable.
• The impact of her words was irrevocable, leaving a lasting impression on everyone in the room.

adjective describes or modifies a noun or pronoun by providing more information about their qualities or characteristics

adverb modifies a verb, adjective, or other adverb by providing information on how the action is performed

• The judge judiciously considered all the evidence before making a ruling.
• She judiciously chose her words during the argument to avoid escalating the situation.
• He judiciously handled the tricky situation like a pro.
• The artist judiciously blended colors to create a beautiful masterpiece.

verb to prevent or stop something from happening

preposition used to indicate the source or starting point of an action or movement

• It is important to keep from making hasty decisions in business.
• I try to keep from eating junk food, but it's hard sometimes.
• I gotta keep from getting caught sneaking out of the house.
• She couldn't keep from laughing at his silly jokes.

verb to put or set something aside or out of the way

adverb in a manner that involves putting or setting something aside or out of the way

• It is important to lay aside personal biases when making decisions.
• Let's just lay aside our differences and enjoy the party.
• Hey, can you just lay that drama aside for now?
• Sometimes we need to lay aside our fears and take a leap of faith.

noun the amount of freedom to move or act that is available

• The project deadline allows for some leeway in case of unexpected delays.
• You have some leeway to finish the assignment by the end of the week.
• I'll give you some leeway on this one, just make sure it's done by tomorrow.
• She gave him leeway to express his creativity in the project design.

verb to consider or take into account when making decisions or judgments

• In order to ensure fairness, we must make allowance for any unforeseen circumstances.
• Let's make allowance for traffic and leave a bit earlier.
• We need to make allowance for the fact that he's always running late.
• When planning the budget, it's important to make allowance for unexpected expenses.

verb to make as large or great as possible

• In order to maximize profits, the company decided to implement cost-cutting measures.
• If you want to maximize your chances of winning, you should practice more.
• Dude, you gotta maximize your gains at the gym by lifting heavier weights.
• She always tries to maximize her potential by pushing herself to do better.

noun the action of arranging or organizing something in advance

• The prearrangement of the meeting was meticulously planned to ensure all details were taken care of.
• We made a prearrangement to meet at the coffee shop before heading to the concert.
• Let's make a prearrangement to grab some food after the game.
• The prearrangement of colors in the painting created a harmonious composition.

adjective serving as a precaution or intended to prevent harm or danger

• The company took precautionary measures to ensure the safety of its employees during the pandemic.
• She always carries pepper spray as a precautionary measure when walking alone at night.
• I double-checked the address as a precautionary step before heading out.
• He wore a helmet as a precautionary hat in case anything fell from the construction site.

noun a plan or proposal for accomplishing something

verb to jut out or extend beyond something else

adjective extending outward; protruding

• The architect is currently projecting the cost estimates for the new building project.
• I heard Sarah is projecting the budget for the upcoming event.
• I can't believe how accurate he is at projecting sales numbers.
• Her confidence is projecting through her body language during the presentation.

verb to extend the duration or length of something

• The medication is designed to prolong the patient's life expectancy.
• I need to figure out how to prolong my phone's battery life.
• Let's grab some coffee to prolong our study session.
• His stubbornness only serves to prolong the argument.

verb to supply or make available something that is needed or desired

preposition to make provisions or arrangements for someone or something

• It is the responsibility of the government to provide for the basic needs of its citizens.
• Parents work hard to provide for their children.
• I gotta provide for my crew, no matter what.
• The company must provide for the future by investing in new technologies.

verb to move something to the side or out of the way

adverb used to describe the act of putting something aside

preposition used to indicate the location or direction of where something is being put

• It is important to put aside personal biases when making a decision.
• Let's just put aside our differences and enjoy the party.
• We need to put that drama aside and focus on what's important.
• Sometimes we need to put aside our fears and take a leap of faith.

verb to arrange or adjust something in a straight or orderly manner

adverb in a straight or orderly manner

• The teacher had to put straight the misunderstanding between the students.
• I had to put straight my messy room before my parents came home.
• She told him to put straight his attitude or she would leave him.
• The therapist helped her put straight her thoughts and emotions after the traumatic event.

verb to fill or make complete again; to supply with fresh fuel, food, etc.

• It is important to replenish your body's electrolytes after strenuous exercise.
• Don't forget to replenish your snack supply before we go on our road trip.
• I need to hit up the store to replenish my stash of snacks.
• Reading a good book can replenish the soul just like a peaceful walk in nature.

noun an area of land set aside for a specific purpose

verb to book or set aside something for a specific purpose

adjective reluctant to share thoughts or emotions

• The hotel requires guests to provide a credit card to reserve a room.
• I'll reserve a table at the restaurant for our dinner tonight.
• I better reserve my spot in line for the new iPhone release.
• She always keeps a reserve of patience when dealing with difficult situations.

adjective relating to or involving the act of reverting back to a previous state or owner

• The reversionary interest in the property will pass to the next of kin upon the current owner's death.
• If I don't have any children, who will get the reversionary rights to my estate?
• I heard that the reversionary clause in the contract is a real game-changer.
• The reversionary trend in fashion seems to be making a comeback this season.

verb to be thrifty or frugal, to save or economize

• In order to save money, it is important to scrimp on unnecessary expenses.
• I'm trying to scrimp on eating out so I can save up for a vacation.
• I need to scrimp on my shopping this month to afford concert tickets.
• She had to scrimp and save in order to achieve her dream of starting her own business.

verb to reserve or save something for a specific purpose

adverb to move or put something to the side or out of the way

• The judge decided to set aside the evidence presented by the defense.
• Let's just set aside our differences and move on.
• I'm going to set aside some cash for the concert tickets.
• Sometimes, we need to set aside our fears and take a leap of faith.

noun a reversal or check in progress

verb to hinder or impede progress

• The unexpected delay in the project has caused a significant set back in our timeline.
• The setback in the construction work is really frustrating.
• The setback in our plans totally sucks.
• Facing a setback is like taking one step back before moving two steps forward.

noun a system of government programs designed to provide financial support to people in need, typically the elderly, disabled, or unemployed

• The government provides social security benefits to eligible individuals who have contributed to the system.
• My grandma relies on social security to help pay her bills.
• I hope I have enough credits to qualify for social security when I retire.
• Building a strong network of friends can be like having social security in times of need.

noun an extra item or amount that is available in case it is needed

verb to refrain from harming or destroying; to give up or part with something; to use or give out only in limited amounts

• I always keep a spare set of keys in case I lose the original.
• Do you have a spare pen I could borrow for a minute?
• I can't believe he didn't spare any change for the homeless man.
• She had no spare time in her busy schedule for any additional tasks.

verb To hide or store something in a safe or secret place, often for future use.

• She decided to squirrel away a portion of her salary each month for her retirement fund.
• I always squirrel away some cash in case of emergencies.
• I like to squirrel away some extra snacks for later.
• He tends to squirrel away his emotions, never showing how he truly feels.

noun a unsteady movement or gait

verb to walk or move unsteadily

adjective having an unsteady or unbalanced appearance

• The hiker began to stagger as he made his way up the steep mountain trail.
• After too many drinks, he started to stagger around the party.
• I saw him stagger out of the bar last night, totally wasted.
• The company's profits began to stagger after the economic downturn.

noun a person's total earnings after taxes and other deductions have been taken out

• Employees should carefully review their pay stubs to ensure accuracy of their take home pay.
• Make sure to check your paycheck to see how much your take home pay is.
• I was bummed when I saw how much they took out of my take home pay for taxes.
• After all the deductions, my take home pay felt like a drop in the bucket.

noun a form on which a taxpayer makes an annual statement of income and personal circumstances, used by the tax authorities to assess liability for tax.

• It is important to accurately report all income and deductions on your tax return.
• Don't forget to file your tax return before the deadline!
• I dread doing my tax return every year.
• Completing my tax return feels like solving a puzzle.

noun a large bag or container used for carrying items

verb to calculate or total up a sum of numbers or items

• Please remember to tote up all the expenses before submitting your reimbursement request.
• Don't forget to tote up how much we spent on groceries this month.
• I'll tote up how much cash I have left after this shopping spree.
• She began to tote up all the reasons why she should quit her job.

adjective describing something that was not expected or foreseen

• The company faced financial difficulties due to unanticipated changes in the market.
• I was caught off guard by the unanticipated rainstorm during our picnic.
• I didn't expect that plot twist in the movie, it was totally unanticipated!
• The unanticipated wave of emotions hit me like a ton of bricks.

verb to support or strengthen from below; to provide a foundation or basis for

• The research study was undergirded by a strong theoretical framework.
• The success of the project was undergirded by teamwork and dedication.
• His confidence was undergirded by his new haircut.
• The principles of democracy undergird the foundation of our society.

verb to prevent or protect against something harmful or dangerous

• The security system was installed to ward off potential intruders.
• I always carry pepper spray with me to ward off any creeps.
• I use garlic to ward off vampires.
• She surrounded herself with positive energy to ward off negative thoughts.

adjective giving good advice or counsel; wise

adverb in a wise or prudent manner

• It is well-advised to consult with a financial advisor before making any major investment decisions.
• You'd be well-advised to bring an umbrella with you today, it looks like it might rain.
• You're well-advised to steer clear of that guy, he's nothing but trouble.
• In the game of chess, it is well-advised to think several moves ahead in order to anticipate your opponent's strategy.

noun a process of considering something again in order to make changes or improvements

• The company conducted a reassessment of their financial projections.
• I think it's time for a reassessment of our weekend plans.
• Dude, we need to do a reassessment of our priorities.
• After the breakup, she had to do a reassessment of her life goals.

verb to assess or evaluate again; to reconsider or review

• It is important to reassess the current situation before making any decisions.
• Let's take a step back and reassess what we're doing.
• We need to rethink this whole thing and reassess our approach.
• Sometimes we need to reassess our priorities in life to find true happiness.

noun a legal concept in which a court appoints a person to manage the financial affairs and/or personal care of another individual who is unable to do so themselves

• The court granted a conservatorship to manage the affairs of the elderly woman.
• They had to go through a whole legal process to get a conservatorship for their uncle.
• Getting stuck in a conservatorship is like being in a legal limbo.
• The strict rules of the conservatorship felt like a cage, restricting his freedom.

noun a one-tenth part of something, especially income, paid as a contribution to a religious organization or charity

• Tithing is the act of giving a portion of one's income to support the church.
• My grandma always talks about tithing and how important it is to give back.
• Some people think tithing is just a way for the church to make money.
• In a figurative sense, tithing can also refer to giving back to the community in a broader sense.

noun a sloping surface or incline for joining two levels

verb to decrease or reduce gradually

• The company decided to ramp down production in response to decreased demand.
• They're gonna ramp down on the number of staff working on the project.
• Let's ramp down the party a bit before the neighbors complain.
• It's important to know when to ramp down your emotions and think logically.

noun Rate refers to the amount of one currency or commodity exchanged for another.

• The financial advisor warned against being a rate tart and advised diversifying investments.
• She's known as a bit of a rate tart, always chasing the best deals on savings accounts.
• Don't be such a rate tart, just pick a credit card and stick with it.
• In the world of travel hacking, being a rate tart can help you score free flights and hotel stays.

noun a type of tree native to Southeast Asia, also known as the Indian gooseberry

adjective pertaining to the aal tree or its fruit

• The aal is a type of large antelope found in Africa.
• I saw a beautiful aal while on safari in Kenya.
• Check out that cool aal over there!
• The aal symbolizes grace and strength in many African cultures.

adjective relating to actuaries or the work of actuaries, typically involving statistical analysis and risk assessment

• The actuarial department is responsible for calculating insurance premiums based on risk assessment.
• The actuarial team crunches numbers to figure out how much we should pay for insurance.
• The actuarial guys are the ones who do all the math to set insurance prices.
• In life, we all have to do our own actuarial calculations to determine our risks and rewards.

noun the quality of being advisable or prudent; the state of being advisable

• The advisability of investing in that particular stock is still under debate among financial experts.
• I'm not sure about the advisability of going to that party tonight, it might be too crowded.
• I don't think it's a good idea to skip class, the advisability of that is pretty low.
• In the game of chess, the advisability of sacrificing a pawn for a strategic advantage is often a calculated risk.

noun the quality of being advisable or wise; the state of being suitable or prudent

• The advisableness of investing in the stock market should be carefully considered.
• It's worth thinking about the advisableness of going out in this weather.
• I don't know about the advisableness of skipping class to go to the beach.
• The advisableness of opening up to her about your feelings is up to you.

noun consideration or deliberation

• Before making any decisions, it is important to seek advisement from a professional.
• I think you should get some advisement before moving forward with that plan.
• Dude, you need some advisement before you do anything crazy.
• In life, we often seek advisement from our past experiences.

verb giving advice or guidance to someone

• She is currently advising a group of investors on their financial decisions.
• I heard Sarah is advising her friend on which college to choose.
• My brother keeps advising me to invest in cryptocurrency.
• The wise old man is like a guiding light, always advising us on the right path.

noun a word that functions as the name of a specific person, place, thing, or idea (e.g. advice)

preposition a word that shows the relationship between a noun (or pronoun) and other words in a sentence (e.g. against)

• He decided to invest all his savings in the risky stock market against his financial advisor's advice.
• She went ahead and dyed her hair pink against her friend's advice.
• I know you told me not to, but I went ahead and texted my ex anyway.
• Ignoring the weather forecast, he went hiking up the mountain against everyone's advice.