Keeping good records is a prerequisite for effective financial planning.

Question

Quizplus · Accepted Answer

Keeping good records helps individuals and businesses track their income, expenses, and assets, which are essential for making informed financial decisions and developing effective financial plans. Without accurate and up-to-date records, it is challenging to understand your financial situation and create a plan to achieve your financial goals. Therefore, keeping good records is critical for effective financial planning.

Keeping Good Records Is a Prerequisite for Effective Financial Planning