The First Step in Financial Planning Is To

question 61

Multiple Choice

The first step in financial planning is to:

• A)define one's financial goals.
• B)set up a budget.
• C)calculate one's liquidity ratio.
• D)prepare a trend analysis.
• E)list expenses.

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Definitions:

Self-Help Books

Publications designed to offer guidance on personal improvement and to address personal challenges.

Major Depression

A psychological condition marked by a constant state of sadness or a lack of enthusiasm in tasks, resulting in considerable disruption to daily functioning.

Systematic Desensitization

A behavioral therapy technique aimed at reducing phobic or anxiety responses by gradually exposing the patient to the feared object or situation.

Shaping

A method of teaching new behaviors by using reinforcement of successive approximations to the desired behavior.