This post contains affiliate links. See full disclosure here.
In last week’s blog post I talk about how I organize and plan out certain details in my life. If you have not read that you can do so here. The reason why I think it is important to have a basis of understanding of planning is so that we can move to our next topic at hand. I believe planning is an essential part of life! However, when it comes to financial planning I get the sense from many people that they are going through certain phases in life without a plan. This may seem trivial to some, but I cannot stress how important it is to have a financial plan. If creating a plan will set us up for success, then imagine what creating a financial plan will do for us!
I know that you, faithful readers, have a growing interest in financial planning; but maybe you are unaware of the why/what/how for this. In my line of work, I come across various types of people! Those who are afraid of spending money, those who are afraid of how much money they spend, and everywhere in between!
If you are afraid of spending money… make a plan.
If you are a crazy spender … make a plan.
If you are a moderate spender … make a plan.
Part of creating a financial plan is to figure out what your need is, plan for it, and then adjust accordingly. Focusing too much on one area may hold you back from moving forward. I feel at this time, it is important to state that this blog post is in no way trying to make you feel stressed, but to bring light to a topic I feel is important.
The What of Financial Planning
What sorts of things might you be planning for, you ask? Well, do you plan to get married? Do you plan to buy a home? Do you plan to have kids? These are all specific phases where you will definitely want to create a financial plan. You may even want to simply buy a new piece of furniture and in order for you to not get in debt over it, you will also need to create a financial plan to get there.
Implementing a Financial Plan
You might be wondering how can one implement a financial plan in your life. Maybe you feel there is not enough money in your budget to do so. Here are my tips for creating a financial plan and implementing it right away!
Blog Posts You Might Enjoy:
My thoughts on numbers, spreadsheets, money, spending, forecasting, budgeting, and everything in between. Read on!
This website uses marketing and tracking technologies. Opting out of this will opt you out of all cookies, except for those needed to run the website. Note that some products may not work as well without tracking cookies.Opt Out of Cookies