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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.

Please select the best answer from the choices provided:
A, B, C, or D



Answer :

GinnyAnswer

Final answer:

Financial planning involves setting goals and creating a comprehensive plan to manage finances effectively.


Explanation:

Financial planning is the process of creating a roadmap for managing your money effectively. It involves setting short-term, medium-term, and long-term financial goals to achieve financial stability and security. By developing a financial plan that includes elements like budgeting, saving, investing, and monitoring, individuals can work towards securing their financial future.


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