Personal Finance 1st Edition by Jack R. Kapoor

Exercise 6

1. What are the main elements of every decision we make?

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2. What are some risks associated with financial decisions?

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3. What are some common sources of financial planning information?

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4. Why should you reevaluate your actions after making a personal financial decision?

Action Application Prepare a list of potential risks involved with making various personal and financial decisions. What actions might be taken to investigate and reduce these risks?

Step 1 of 4

1.

There are 6 main elements to every decision we make. They are as follows:

• Determine current financial situation.

• Develop your financial goals.

• Identify alternative courses of action.

• Evaluate alternatives.

• Create and implement financial action plan.

• Review and revise the financial plan.