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21 Dec 2018

What is an income and expense statement? What role does it serve in personal financial planning?

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Reid Wolff
Reid WolffLv2
23 Dec 2018

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Related questions

1.What role does budgeting play in financial planning?

2.Why should you prepare personal Financial Statements?

Topic 1: Title
There are at least three major areas that affect financial decisions. These are:
• Life situations such as income, age, household size, and health
• Personal values
• Economic factors such as prices, interest rates, and employment opportunities
The major elements of financial planning are obtaining resources, planning, saving, borrowing, spending, managing risk, investing, and retirement and estate planning.
• What are some of the social and economic factors that have increased the importance of personal financial planning today? Give an example.

What role does investing play in a personal financial plan? Are there situations where an individual should not be investing and instead focusing resources in other areas of their financial plan

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