What is the first step in financial planning?

Answers

Answer 1

Answer:

Financial planning is a way to control finances to ensure that financial resources are used in the best possible way and with the least waste.

In this way, there are steps for successful financial planning. The first step is to be aware of all receipts and all expenses, that is, write down how much you get and how much you spend. Maybe you have a surprise doing this. Many people spend more than they realize.

Other steps are learning to apply money, live by your financial condition - without extrapolating, having realistic goals and objectives, and not getting into debt.

It is important to point out that regardless of having a concrete objective, such as buying a car or a house, having a financial planning is healthy for all people, since financial life is extremely important for the well being of people. People with disorganized financial lives go through a lot of problems and even get sick from it.

Answer 2

Answer:

Financial planning is a method of managing money to make sure that resources are used as efficiently and effectively as possible.

There are stages for effective financial planning in this manner. The first stage is to keep track of all revenues and expenditures, which entails keeping a written record of your income and outgoings. You could be in for a surprise if you do this. Many individuals overspend unknowingly.

Other measures include knowing how to manage money, living within your means without exaggerating, setting reasonable goals and objectives, and avoiding debt. Having a financial plan is crucial regardless of whether you have a specific goal in mind, like buying a vehicle or a house.

Learn more about financial planning here:

brainly.com/question/29763313

#SPJ6

Related Questions

F a case concerns ambassadors, public ministers, and consuls, and if a state is one of the parties in the case, then it originates ina. the Supreme Court. b. a federal court. c. an appeals court. d. the Court of the Interior
How does geography affect economic activity in South Asia?A) Being surrounded by the Arabian Sea and the Indian Ocean limits trade in India. B) The Himalayas protect the crops of Indian farmers from heavy rains and extreme weather. C) The diversity of climates in India means farmers grow many different crops. D) The distance between India and its nearest neighbor limits business communications.
Which of the location was slave trading outlawed by the Compromise of 1850?. . . . a.New York. . b.District of Columbia. . c.Maryland. . d.Missouri
Thomas Hobbes believed that citizens must __________ in exchange for order? give up some of their libertiesdemand to receive all their rightsremove absolute monarchiesrebel against the government
How does sex and gender dictate out thoughts and behavior?

Mark believes that choosing to violate government laws is morally justifiable if it is done to protect the lives of innocent people. lawrence kohlberg would suggest that this illustrates _____ morality.

Answers

I believe the answer is: . postconventional

postconventional is the last stage of moral development theory introduced by kohlberg. During this stage of development, people already develop an universal structure of ethical principles and refuse to deviate against the structure in most of the time.

Which of the following is true about responsibility in the U.S. Court system? (3 points) Federal courts handle most appeals from the state courts of last resort, whereas the state courts address most crimes and civil cases. Federal courts handle constitutional law, but only the state courts can make new laws based on their interpretations. Federal courts handle local trial courts and most cases, though the state courts have authority to select certain cases to hear. Federal courts handle appeals from the state district courts, and state district courts handle appeals from federal courts as a check on the power of the courts.

Answers

The correct answer for the question that is being presented above is this one: "Federal courts handle appeals from the state district courts, and state district courts handle appeals from federal courts as a check on the power of the courts."

In which of the following periods of the Mesozoic Era did the first dinosaurs and flying reptiles appear?A. Triassic
B. Jurassic
C. Cambrian
D. Cretaceous

Answers

Answer:

mesozoic

Explanation:

took the test

David is choosing between two exercise routines. In Routine #1, he burns calories walking. He then runs at a rate that burns calories per minute. In Routine #2, he burns calories walking. He then runs at a rate that burns calories per minute. For what amounts of time spent running will Routine #1 burn at most as many calories as Routine #2? Use for the number of minutes spent running, and solve your inequality for .

Answers

Answer:

The answer is below

Explanation:

The question is not complete, the complete question is in the form of: David is choosing between two exercise routines. In Routine #1, he burns 20 calories walking. He then runs at a rate that burns 10.5 calories per minute. In Routine #2, he burns calories 38 walking. He then runs at a rate that burns 8.5 calories per minute. For what amounts of time spent running will Routine #1 burn at most as many calories as Routine #2? Use for the number of minutes spent running, and solve your inequality for .

Answer:

Let us assume that the number of minutes spent running is t minute. The equation that represents the total calories burnt for routine 1 is given as:

20 + 10.5t

While the total calories burnt for routine 2 is given as:

38 + 8.5t

Since Routine #1 burn at most as many calories as Routine #2, hence it can be represented by the inequality

20 + 10.5t < 38 + 8.5t

Solving the inequality:

10.5t - 8.5t < 38 - 20

2t < 18

t < 9 minutes

For routine 1 to burn at most as many calories as routine 2, the time spent running must be less than 9 minutes

Final answer:

David should run for less than or equal to (W2 - W1) / (R1 - R2) minutes for the calories burned in Routine #1 to be at most equal to that of Routine #2. W1, W2, R1, and R2 represent the number of calories burned walking and running rate in each routine, respectively.

Explanation:

The question doesn't provide specific figures for the amount of calories burned through walking or running in either routine. Therefore, for our purposes, let's denote the number of calories burned walking in Routine #1 and #2 as W1 and W2 respectively, and the rate of calories burned per minute running as R1 and R2 respectively.

If x represents the time (in minutes) David spends running, the total number of calories burned in Routine #1 would be W1 + R1*x, and for Routine #2 it would be W2 + R2*x.

David would burn at most as many calories with Routine #1 as he would with Routine #2 when W1 + R1*x ≤ W2 + R2*x. To solve this inequality for x, you would perform the following steps:

Subtract W1 from both sides of the inequality to isolate the variable terms on one side: R1*x ≤ W2 - W1 + R2*x
Subtract R2*x from both sides: (R1 - R2) * x ≤ W2 - W1
Divide by R1 - R2 to solve for x: x ≤ (W2 - W1) / (R1 - R2)
The amount of time spent running for which Routine #1 burns at most as many calories as Routine #2 is given by x ≤ (W2 - W1) / (R1 - R2).

Learn more about Inequalities here:

brainly.com/question/32625151

#SPJ3

Karl Marx believed that history was the story of _____.class conflict
evolution
natural selection
cooperation

Answers

I think the answer is class conflict

Class conflict ...................

How did the individual participating in the Scientific Revolution build and expand upon the work of their predecessors?”

Answers

They made new scientific discoveries that would not have been possible without the discoveries of their predecessors. One example is the heliocentric theory that was possible because of previously made hypothesis about the universe.

Other Questions

A _____organization typically has a clear, simple chain of command from top to bottom

Which type of market is the least likely to have an official currency?closed economy command economy traditional economy mixed market economyEdit: Answer is c) traditional economy

Which crops did Georgia farmers grow successfully?Orice, grapes, and olivesgrapes, indigo, and tobaccograpes, olives, and silkOrice, indigo, and tobacco

Why is the Balkans known as the "powder keg" of Europe ?