Which of the following would be the first step in creating your personal financial plan?

Question

Quizplus · Accepted Answer

The first step in creating a personal financial plan is to establish short-, medium- and long-term financial goals. This will help you to have a clear understanding of what you want to achieve and the timeframe in which you want to achieve it. Once you have established your goals, you can then evaluate various alternatives to reach them, make intentional, informed decisions about maximizing income and minimizing unnecessary spending, and monitor the plan and make adjustments as required.

Which of the Following Would Be the First Step in Creating