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question 1 (a) Financial Planning requires knowing the difference between needs and wants. Explain the differences between needs and wants, and provide an example each

question 1

(a) Financial Planning requires knowing the difference between needs and wants. Explain the differences between needs and wants, and provide an example each of a need and want. (4 marks)

(b) Describe the FIVE (5) steps involved in Financial Planning. (5 marks)

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