Multiple choice

A good first step in financial planning would be to

  1. hire a professional financial planner

  2. create a balance sheet and cash flow statement

  3. pay off all of your debts

  4. develop long-term financial goals
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Creating a balance sheet and cash flow statement allows an individual to understand their current financial standing, which is essential before setting goals or making major changes.

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