Fp101 Personal Financial Planning Worksheet

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Appendix B

Personal Financial Planning Worksheet

Directions: Based on your readings and discussions in class this week, answer the following questions completely.

The process of creating a detailed plan to meet your financial needs and prepare for the future is called:B Personal financial planning.

Which of the following is not one of the five major steps of the financial planning process? C Collect and organize your financial information.

Which phase in life is commonly associated with focus on marriage, family, purchasing a home, and career development? C Late 20s through your 40s

Which of the following are some benefits of having a college degree that can affect your financial planning? D All of the above

Which of the follows elements of a comprehensive financial plan discuss analyzing future needs, such as saving for retirement or college funding for dependants? A Building wealth

People have different styles when it comes to handling their money. List the two things that affect our personal beliefs and opinions about financial planning. That would be Values, and Attitudes.

Which element of the comprehensive financial plan focuses on your housing needs, setting aside money for emergencies, and establishing a career path? Securing basic needs.

The economy is unpredictable and can affect your personal financial planning. List one factor in economic conditions that may affect your financial future. Inflation, Interest rates, employment conditions, or political unrest and global issues.

Which step in the five-step financial planning process requires you to organize your financial information, create personal financial statements, and evaluate your current financial position? Analyze your current financial position.

Step five in the five-step financial planning process discusses the importance of regularly...
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