The main goal of personal financial planning is:
A) saving and investing for future needs.
B) reducing a person's tax liability.
C) achieving personal economic satisfaction.
D) spending to achieve financial objectives.
E) saving, spending, and borrowing based on current needs.

Question

Quizplus · Accepted Answer

The main goal of personal financial planning is achieving personal economic satisfaction, which involves managing money in a way that allows individuals to meet their financial goals and fulfill their long-term aspirations. This can include strategies such as saving and investing for future needs, reducing tax liability, and spending to achieve financial objectives, but the ultimate goal is to achieve financial satisfaction and security. Saving, spending, and borrowing based on current needs may be part of a sound financial plan, but they are not the primary goal of financial planning.

The Main Goal of Personal Financial Planning Is