Question: 1. The personal financial planning process involves the following: Step i. Determining your current financial situation ii. Define your financial goals. iii. Develop a plan

1. The personal financial planning process involves the following:

Step

i. Determining your current financial situation

ii. Define your financial goals.

iii. Develop a plan of action.

iv. Implement your plan.

v. Review your progress, reevaluate, and revise your plan.

Evaluate the practical aspect of the above planning process. (300 words)

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