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In Business / College | 2025-07-03

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.

Asked by victorrankin94

Answer (2)

Financial planning is the proactive process of creating a road map for managing your finances effectively, which includes setting goals and making strategic decisions. The best description among the options is that it creates a roadmap for everything you do with your money. It is essential for achieving financial stability and future goals. ;

Answered by GinnyAnswer | 2025-07-03

Financial planning involves creating a detailed roadmap for managing money to achieve financial goals. The best choice from the provided options is B, which emphasizes the comprehensive nature of financial planning. This process includes assessing current financial situations, setting goals, and regularly reviewing the plan.
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Answered by Anonymous | 2025-07-04

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