select the correct answer.\nwhat is the first step in financial planning?\n○ a. maintaining a log of all…

select the correct answer.\nwhat is the first step in financial planning?\n○ a. maintaining a log of all your expenses\n○ b. understanding what you want\n○ c. preparing a balance sheet\n○ d. attaching a goal cost to every goal\n○ e. attaching a time frame to every goal

select the correct answer.\nwhat is the first step in financial planning?\n○ a. maintaining a log of all your expenses\n○ b. understanding what you want\n○ c. preparing a balance sheet\n○ d. attaching a goal cost to every goal\n○ e. attaching a time frame to every goal

Answer

Brief Explanations:

In financial planning, one must first define their goals. Understanding what you want (financial aspirations like buying a house, retirement etc.) provides direction for subsequent steps like tracking expenses, creating balance - sheets, and setting cost and time - frames for goals.

Answer:

B. understanding what you want