What is meant by the term financial planning? a. Long-term goals are reached over an extended period of time, so your current income does not affect them. b. It is creating a road map of everything you do with your money. c. It is hoping you will have eno

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15.07.2022 - 12:54

What is meant by the term financial planning? a. Long-term goals are reached over an extended period of time, so your current income does not affect them. b. It is creating a road map of everything you do with your money. c. It is hoping you will have eno

Question:

What is meant by the term financial planning?

a. Long-term goals are reached over an extended period of time, so your current income does not affect them.

b. It is creating a road map of everything you do with your money.

c. It is hoping you will have enough money to pay all your bills on time.

d. If your income exceeds your expenses, you will be able to save money for the future.

Answers (1)

Caroline April 4, 2023 в 06:56

The correct option is b. Financial planning involves creating a comprehensive plan that outlines the goals, objectives, and strategies to manage one's finances. It includes budgeting, saving, investing, and managing debt while taking into account an individual's current and future financial circumstances, such as income, expenses, and long-term financial goals. A financial plan serves as a road map to ensure that individuals can achieve their financial objectives and improve their overall financial well-being.

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