PF3

Question 1

Establishing Goals

Answer 1

Identify your short-term, medium-term, and long-term financial
goals.

Question 2

Analyzing Personal Data

Answer 2

asses your current financial situation by analyzing the
collected data. This helps in understanding your financial strengths and weaknesses.

Question 2

Gathering Financial Data

Answer 2

Collect all relevant financial information, such as income,
expenses, assets, liabilities, and any existing financial plans or investment

Question 3

Developing a Financial Plan

Answer 3

Create a detailed plan that outlines the strategies and
actions needed to achieve your financial goals.

Question 4

Implementing the Plan

Answer 4

put your financial plan intro action. This may involve setting up
saving accounts, investing in stocks or bonds, purchasing insurance, or adjusting your
spending habits

Question 5

Monitoring and reviewing the plan

Answer 5

Regularly review your financial plan to ensure it
remains aligned with your goals and adjust it as necessary.