Answer: Third option is correct.
Step-by-step explanation:
Since there are four steps in solving one's personal financial challenges:
1) First he needs to assessing the needs and wants .
2) Then, he will consider opportunity costs, i.e. next best alternative.
3) Then, he will assessing the risks and returns associated with the opportunity costs.
4) Last, but not the least, he will be setting short and long term goals.
So, The correct order of these steps is 4,1,2,3.
Hence, Third option is correct.
