Read Chapter 1 it addresses the Personal Financial Planning process and how each of us must balance personal opportunity costs and financial opportunity costs with the needs and desires of financial acquisitions.
There are 6 defined steps in the Financial Planning Process (see Exhibit 1-1). Each step of the Financial Planning Process is explained in the text on pages 4 - 9.
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Please provide an example of a financial decision you have made in the past (or will make in the future) and explain how each step of the Financial Planning Process can be applied to this financial decision.