The correct answer is D. Change in behavioral pattern.
Financial planning is the process of determining how to meet your financial goals. It involves setting financial goals, developing a budget, and creating a financial plan to achieve your goals.
There are many reasons why you might need to create a financial plan. Some common reasons include:
- Retirement planning: You may need to create a financial plan to save for retirement. This includes estimating how much money you will need to save, and developing a plan to invest your savings.
- College planning: If you have children, you may need to create a financial plan to save for their college education. This includes estimating how much money you will need to save, and developing a plan to invest your savings.
- Emergency fund: You may need to create a financial plan to save for an emergency fund. This is a fund that you can use to cover unexpected expenses, such as a job loss or medical bill.
- Debt repayment: If you have debt, you may need to create a financial plan to repay it. This includes estimating how much money you will need to save, and developing a plan to pay off your debt.
- Investing: If you want to grow your wealth, you may need to create a financial plan to invest your money. This includes choosing the right investments for your goals, and developing a plan to invest your money.
Change in behavioral pattern is not an appropriate reason for a proper financial planning because it is not something that you can control. Your financial plan should be based on your goals and your current situation, not on what you think you might do in the future.
If you are not sure where to start with financial planning, there are many resources available to help you. You can talk to a financial advisor, or you can find information online or in books.