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Give short explanation of what are those words
WHAT IS/ARE? 1. Personal Financial Planning? 2. Personal Financial Plan? 3. Opportunity Cost? 4. Budgeting? 5. Assets? 6. Liabilities? 7. Net Worth? 8. Liquidity? 9. Money Management? 10. Credit Management? 11. Insurance Planning? 12. Risk? 13. Retirement Planning? 14. Estate Planning? 15. Your Cash Flows? 16. Revising your plan?
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D eesenal Aoencial planningis a persnol fnanal plan OanC personolinancial plan thal tells Hou houDto use Hour mbnet your gools etc t acuieue (OY) The provese by ohich indiuiduali and fanmilues deselef ewe mplement a com paehenciu plan for achieuing Their financial gealu Pea enial pudng god ecal 2. Person xonel a aoba plan by focudng on ซelevant toples Asset allocation Networth → Education funding major purchases Retirem ent -), nsurance Cash flow Estate planning 3. oppostunity costoppotunity cost is a beneRt missed ohen aun investor, fndiidual r Business chooses One altematiue Our another The. Bacic Relation ship Bee S carcty aund choice xyou Spend ime and you Cann ot Speud hat time at home Reading a Bock and you cant spend +he monay on somell ouy ing to to elgfanc Bdge 5 Aetse a nesourc wfth Econonic value oons or cortrols oth the or cortrols wth the an compory oons Expectadion that it uhll paoia a futave Beneht Tangiable Asset, an Tang abla Peet o Liabiies: abiutes is dusind as a componys financial dibts or obligedions dagol inanciol dubtis or obligetions thot aise duntg Hu Course Buinen oparati ons aise E cusest uasktyte creditor T. nlet uworth: is the valus of al tha non- firancial and firancial aumts ounsal By aun Instituhoral oni minus 8. liquidity The ig to Buich an aer or Secuitny con be quichiy hosght ov tnast othout Effecting te awds prica Effeetiug tue awts price,9 Money-management Money mongemet s a Strcategic. Technqu to meney yield heiguese hect upu vas For any amount spect credit management- eredit, emut (-Inueg+ment- manage トo. is-the. Poom setting Ws gounted on, Recourong -t he →四ms tis cecit ohen its clue and Ensining compliance among other credlit with company crecit pouc functions . insuurente planning is the poocers of anabyting ohat types of Insuranc is needud for ta pootestion of a Com panys assets and abicty fo create cusets RİSK:--ficture oncertarty about deuu aim from expecteol 2, financial visk, peratng nsk 3. Retir g includs ictuntifying remest plannin i n souces ob income estimating expauses 『mplenneuting a Sauengs f万ogram and managing aw

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