Question 1 (a) Personal Financial Planning is the process of managing your money to achieve personal economic satisfaction. Discuss SIX (6) steps that can help an individual to conduct an effective financial planning with examples. (18 marks) (b) Due to the rising rate of inflation, ABC Banks Fixed Deposit rate notice board has been displaying the nominal rate of interest as 4.5%. As a saver, Sandy is unsure of the impact from the inflation. She has approached you for advice. (i) Explain to Sandy on the impact of inflation to saver. (5 marks) (ii) Advise Sandy on her investments term during the rising rate of inflation. (2 marks) [Total: 25 marks]