Associate Level Material Appendix B Personal Financial Planning Worksheet Essay

389 WordsMay 26, 20122 Pages
Associate Level Material Appendix B Personal Financial Planning Worksheet Directions: Based on your readings and discussions in class this week, answer the following questions completely. 1. The process of creating a detailed plan to meet your financial needs and prepare for the future is called: Personal financial planning. 2. Which of the following is not one of the five major steps of the financial planning process? Collect and organize your financial information 3. Which phase in life is commonly associated with focus on marriage, family, purchasing a home, and career development? The late 20s through your 40s 4. Which of the following are some benefits of having a college degree that can affect your financial planning? The potential to make a higher salary, getting job with retirement plans and having the ability to receive promotions and wage increases. 5. Which of the following elements of a comprehensive financial plan discuss analyzing future needs, such as saving for retirement or college funding for dependants? Building wealth 6. People have different styles when it comes to handling their money. List the two things that affect our personal beliefs and opinions about financial planning. Two things that affect our personal beliefs and opinions about financial planning are Values and Attitudes. 7. Which element of the comprehensive financial plan focuses on your housing needs, setting aside money for emergencies, and establishing a career path? The element of the comprehensive financial plan focuses on your housing needs, setting aside money for emergencies and establishing a career path is securing basic needs 8. The economy is unpredictable and can affect your personal financial planning. List one

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