Question: The following table lists six principal steps in the process of financial planning. Place these steps in their proper order by inserting the correct numbers

The following table lists six principal steps in the process of financial planning. Place these steps in their proper order by inserting the correct numbers

(1

through

6)

in the first column.

Step Number Step in the Process

Develop and implement budgets to control your progress toward your goals.

Develop the financial plans and strategies needed to achieve those goals.

Develop and use financial statements to evaluate the results of your plans and budgets.

Implement your financial plans and strategies.

As your personal circumstances change, redefine your goals and revise your plans and strategies.

Define your financial goals.

Financial goals describe the desired of your financial planning activities. Most financial advisors recommend developing goals with three broad categories of completion dates:

The following table lists six principal steps in the process of

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