Question

Type the correct answer in the box. Spell all words correctly.

Peter is planning his finances for the next couple of years. He wants to save money to eventually by a house because he will be getting married
soon. He has created a savings plan revolving around his necessary expenses, and he has set a target of three years to save up a down paymet
for a house. At which phase of the financial life cycle is Peter in?
Peter is in the
phase of the financial life cycle.

Answer 1

Answer: initial stage

Step-by-step explanation:

The initial stage of financial life cycle is simply the first stage or the beginning phase of the financial cycle. Since he want to save so that he can get a house, thus means that he wants to accumulate asset.

Furthermore, it should be noted that the initial phase of the financial life cycle typically begin at a young age of about 25 years.