The first component in creating a financial plan is

Name: The first component in creating a financial plan is
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The first step in creating a financial plan is to prepare a budget. This helps individuals to understand their income, expenses, and savings goals, which is the foundation for the rest of the plan. Setting up a brokerage account, starting an emergency fund, and purchasing car insurance are all important components of a financial plan, but they come after creating a budget.

The First Component in Creating a Financial Plan Is