Terminal values are the ultimate goals or objectives that a person wishes to achieve in their lifetime. They are the highest values in a persons value system and are considered desirable in and of themselves. Terminal values are about the life goals and objectives of a person or their destination. They are the values that people work towards and view as most desirable. Examples of terminal values include happiness, family security, freedom, equality, self-respect, wisdom, national security, true friendship, salvation, and a sense of accomplishment.

In contrast, instrumental values are the means to achieve other desirable ends or goals. They are used to guide behavior and actions and are rooted in a persons personality and character. Examples of instrumental values include honesty, sincerity, ethics, ambition, and open-mindedness. Instrumental values are more focused on personality traits and character and deal with views on acceptable modes of conduct or means of achieving the terminal values.

It is important to note that terminal values are different from terminal value in finance. Terminal value in finance refers to the value of an asset, business, or project beyond the forecasted period when future cash flows can be estimated.