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People should also allow for unexpected events in their financial planning. If such an event occurs, they'll have financial resources to deal with it; if nothing unforeseen happens, they'll have avoided worrying and will have extra cash to spare. Unplanned events might be +ve / -ve They're specific + practical advantages in keeping a financial plan. The ability to achieve long-term objectives is determined to some extent by what happens in the short term. In addition, the short-term situation affected by the long-term goals that someone has set themselves and buy the past decisions they've made. +ve unplanned events may include winning money or being promoted to a higher position with a higher salary. They might also be happy events that have a effect budget, such as getting married or having children -ve unplanned events mat include a car breakdown, or a result in loss of income, such as on redundancy or illness. They could also be life event such as divorce Life events - university, car, house, wedding, family, making provision for children, moving abroad Medium + long-term financial planning is done because people want to achieve their Having a plan to show their wants + aspirations ...
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