Question

what is meant by the term financial planning?
a. long - term goals are reached over an extended period of time, so your current income does not affect them.
b. it is creating a road map of everything you do with your money.
c. it is hoping you will have enough money to pay all your bills on time.
d. if your income exceeds your expenses, you will be able to save money for the future.
please select the best answer from the choices provided.

Explanation:

Financial planning involves creating a comprehensive plan for managing money, which is like creating a roadmap for all money - related activities. Option a only focuses on long - term goals ignoring short - term aspects. Option c is just about paying bills on time which is a narrow view. Option d is about the result of income exceeding expenses rather than the planning process.

Answer:

B. It is creating a road map of everything you do with your money.