ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -The first stage of the financial planning process constitutes assessment on what is happening in your life right now and how you can change your financial situation.
Detailed explanation-2: -The objective of financial planning is to make sure you have the money to achieve it all. Having a good financial plan means resources have been allocated towards achieving your goals in a systematic manner.
Detailed explanation-3: -Financial planning isn’t just about investing; it’s about what money can do for your confidence, security, and quality of life-such as the protection that life insurance offers or the peace of mind that an emergency fund can provide. Research also shows that planning supports sound money habits as well.
Detailed explanation-4: -The main goal of personal financial planning is managing your money to: achieve personal economic satisfaction. The Fed refers to: the Federal Reserve System.