The best financial planning skills ultimately enable an individual <u>to prepare for his future.
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Further explanation:
If an individual maintain a balance between his income and expenditure, in which he spends according to his income then it is considered as one of the best planning skills. If an individual’s expenditure is more than his income then there are chances to incurring debts.
<u>FINANCIAL PLANNING </u>
Financial planning helps in ensuring availability of funds. Financial planning helps an individual to set short-term goals which is a crucial step to map out his financial plan. Financial planning helps an individual to make financial decisions and when an individual have financial plan, then it’s easier to meet his goals.
There are several reasons why financial planning is important, like one can manage his income more effectively. It helps in increasing cash flow by carefully spending and monitoring expenses and patterns. If an individual make financial plan, then he can save money which can be beneficial in his difficult times.
Learn more:
1. When trying to convince a friend not to drive after drinking, you should try:
brainly.com/question/4771349
2. How is the planning step done in the education process?
brainly.com/question/9449985
Answer details:
Grade: College
Subject: Social Studies
Topic: Financial Planning
Keywords: financial, income, expenditure, debts, expenses, planning, skills, decisions
