This is a mul part assignment. Please prepare your answer by separating the various parts of the assignment into separate paragraphs to ensure full coverage of the topics. 1. Identify and discuss four benefits that an individual and in time their family is likely to gain by having a better understanding of personal finance and actually engaging in the financial planning process Please list separate and distinct benefits: that is, do not identify one benefit and then use four examples to illustrate the importance of the benefit Please consider that many of the benefits are social and psychological For example, one benefit of financial planning is the realization that one should have an emergency fund for the unexpected occurences and expenses in life. This is an important note using the example I just listed about-if you the student offers four examples when an emergency fund is helpful such as repair the car, replace the hot water tank, pay for an emergency room visit, take a pet to the vels office, etc. you will not get full credit Include in your answer specific examples for each of the four benefits you list to ilustrate the point you wish to make