The first step of the financial planning process is to:
A) develop financial goals.
B) implement the financial plan.
C) analyze your current personal and financial situation.
D) evaluate and revise your actions.
E) create a financial plan of action.

Question

Quizplus · Accepted Answer

The first step in the financial planning process is to analyze your current personal and financial situation. This involves looking at your income, expenses, assets, and debts to determine where you currently stand financially. Only after you have a clear understanding of your current situation can you begin to set financial goals and create a plan of action to achieve them.

The First Step of the Financial Planning Process Is To