Reference no: EM132617126
The first step in the financial planning process is:
a. determining your financial position compared with others to provide a benchmark to success
b. determining your financial situation regarding income, savings, living expenses, and debts
c. creating financial goals
d. evaluating the effectiveness of the financial planning process
2 Sophia Martin's goal has been to travel around the world. She has now been traveling for six months and she has decided she is a little tired of living out of a suitcase. She has decided to go home, look for a part time job, and take shorter trips to locations around the world that appeal to her. Which step in the financial planning process does this scenario most likely demonstrate?
a Developing her financial goals
b Identifying alternative courses of action
c Evaluating her alternatives
d Implementing her financial plan