Depreciating Asset – anything that will decrease in value over time after you buy it. ex clothing, electronics, cars

Appreciating Asset – anything that will increase in value over time after you buy it. ex bank accounts, real estate, land, investments


Instant Gratification – the need for immediate satisfaction or happiness, indicates a lack of maturity and/or personality flaw.

Delayed Gratification – the ability to wait in order to obtain or achieve something, also known as discipline, will power, or self-control, indicates emotional intelligence and maturity, necessary for academic achievement and life success.