Associate Level Material
Personal Financial Planning Worksheet
Directions: Based on your readings and discussions in class this week, answer the following questions completely.
The process of creating a detailed plan to meet your financial needs and prepare for the future is called:
Personal financial planning.
Collecting financial information.
Which of the following is not one of the five major steps of the financial planning process?
Analyze your current finances.
Establish and implement your plan.
Collect and organize your financial ...view middle of the document...
List the two things that affect our personal beliefs and opinions about financial planning.
Values and Attitudes
Which element of the comprehensive financial plan focuses on your housing needs, setting aside money for emergencies, and establishing a career path?
Securing basic needs
The economy is unpredictable and can affect your personal financial planning. List one factor in economic conditions that may affect your financial future.
Which step in the five-step financial planning process requires you to organize your financial information, create personal financial statements, and evaluate your current financial position?
Step 1: Analyze your current financial position
Step five in the five-step financial planning process discusses the importance of regularly reevaluating and revising your plan because personal circumstances often change. List two life changes that may require you to update your financial plan.
Getting Married and Having Children.