The First Step of the Financial Planning Process Is To

question 90

Multiple Choice

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.

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Definitions:

Psychological Forces

Internal or external factors that influence an individual's mental states and behaviors.

Proprium

Refers to the aspects of a person's self or personality that contribute to their sense of identity and continuity over time.

Master Trait

A dominant personality characteristic that significantly influences an individual's behaviors and attitudes.

Superego

The part of the personality in psychoanalytic theory that reflects moral standards and strives for perfection.