Answered

Westonci.ca offers quick and accurate answers to your questions. Join our community and get the insights you need today. Get immediate and reliable solutions to your questions from a community of experienced experts on our Q&A platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

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.

Sagot :

GinnyAnswer

Final answer:

Financial planning involves creating a strategic financial roadmap to achieve goals through budgeting and long-term planning.


Explanation:

Financial planning is the process of creating a road map detailing how you will manage your money to achieve your short-term and long-term goals. It involves setting specific objectives, evaluating your current financial situation, planning how to reach your goals, implementing those plans, and monitoring your progress.

Long-term goals, such as saving for retirement or buying a house, require careful financial planning to ensure success over an extended period. A key aspect of financial planning is budgeting, which helps individuals allocate their income towards expenses, savings, and investments in a structured manner.


Learn more about Financial Planning here:

https://brainly.com/question/29763313


Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.