Question

Place the following steps for a personal financial plan in the proper order: 1. Review and revise the financial plan 2. Identify alternative courses of action 3. Create and implement your financial action plan 4. Determine your current financial situation 5. Evaluate alternatives 6. Develop your financial goals

Answer 1

Answer:

Place the following steps for a personal financial plan in the proper order:

4. Determine your current financial situation

6. Develop your financial goals

2. Identify alternative courses of action

5. Evaluate your alternatives

3. Create and implement your financial action plan

1. Review and revise your plan

Explanation:

4. Determine your current financial situation

Financial health is a term used to describe the state of one's personal financial situation.

6. Develop your financial goals

Financial goals are the personal, big-picture objectives you set for how you'll save and spend money.

2. Identify alternative courses of action

a choice limited to one of two or more possibilities, as of things, propositions, or courses of action, the selection of which precludes any other possibility

5. Evaluate your alternatives

Evaluate alternatives by examining the benefits and drawbacks of each alternative.

3. Create and implement your financial action plan

A financial plan is a comprehensive document that includes details about your cash flow, savings, debts, investments, insurance and other elements of your financial life

1. Review and revise your plan

It goes without saying that your financial plans should not be static objects, and that you should review your plans over time, and on a regular basis to ensure that you remain on track towards your goals