1. "Financial planning is the process of identifying a person's financial goals, evaluating existing resources and designing the financial strategies that help the person to achieve those goals". Elaborate this in the light of various steps involved in the process of financial planning,
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Explanation:
Financial planning consists of complete estimation scheduling for goal development and tracking.
The first step is mainly about estimation, the main scope is kept in view and then cost and resources estimation is done required for achieving a goal or a milestone.
Then comes planning, where all the activities are broken down into milestones and each milestone is given timeline based on the resources availability
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