Learning Objective What Is Financial Planning?
Key Terms What Is Financial Planning?
Financial Planning
When starting a business, you might need to pay for:
What are your personal goals?
Gather Information
Step 2: Analyze Information
the five steps of financial planning. These are:
What long-term goals do you have?
Achieving long-term goals may require you to save money for a long
Step 4: Develop a Timeline and Targets
Step 5: Implement and Evaluate the Plan
In doing so, consider the following questions. Some of them may
Financial planning requires a short-term commitment.
What new goals do you need to add and plan for?
Which of the following is NOT an example of a personal goal?
Which of the following is NOT an intermediate financial goal?
A target is a visual display of how long it will take to achieve each phase of a plan.
