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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.



Answer :

GinnyAnswer

Final answer:

Financial planning is the process of managing money to achieve goals through strategic planning and monitoring.


Explanation:

Financial planning involves creating a roadmap for managing your money effectively to reach your goals. It consists of goal setting, evaluating, planning, implementing, and monitoring. Setting short-, medium-, and long-term goals, such as saving for emergencies, a house down payment, or retirement, is a key aspect of financial planning.


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