Financial planning is best described as creating a road map of everything you do with your money. It involves setting specific goals, analyzing your current financial situation, and developing strategies to achieve those goals effectively.
Financial planning includes activities such as budgeting, saving, investing, and managing debt. It helps individuals or families make informed decisions about their finances to secure their future, whether it's for retirement, buying a home, or funding education.
By planning ahead and making intentional financial decisions, you can ensure that you have enough money to meet your financial obligations, achieve your goals, and build a secure financial future. So, the correct answer to the question is:
b. It is creating a road map of everything you do with your money.
