Question: Why does personal financial planning involve other disciplines as shown in Figure 1.3? Give some practical examples of their use. Figure 1.3: Origins of Personal

Why does personal financial planning involve other disciplines as shown in Figure 1.3? Give some practical examples of their use.
Figure 1.3: Origins of Personal Financial Planning

OTHER DISCIPLINES AND TOOLS FINANCE TOOLS Time value of money Cash flow analysis Optimization Market pricing Analysis of risk Investment models of behavior Micro and macroeconomics Accounting Law and taxation Mathematics and statistics Business and govermment Psychology and sociology skills PERSONAL FINANCE Consumption and savings Capltal budgeting PERSONAL FINANCIAL PLANNING Cash flow planning Investment planning Retirement planning Estate planning Special circumstances planning Employee benefit planning

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