In our current economy, even large businesses close their doors unexpectedly – leaving hundreds or thousands of employees suddenly jobless. As hundreds of billions in mortgage-related investments went bad, mighty investment banks that once ruled high finance have crumbled or reinvented themselves as humdrum commercial banks.
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Personal financial planning
A key component of personal finance is financial planning, a dynamic process that requires regular monitoring and reevaluation. In general, it has five steps:
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