Why is it important to have a financial plan?
A financial plans allows a person to have a guide and a goal when the paycheck comes in at the end of the month. It should include paying yourself first before you do anything else with the money. Saving and Investing is very important. It allows for financial freedom in life.
Well said, Macala. Let’s recap.
A financial plan is simply your dreams that are written down on paper or some type of word document. You write down your short term dreams (goals you want to achieve in the coming year) and your long term dreams (goals you want to achieve beyond this coming year) and then you set a course to achieve them.
One of the most important goals should be just what Macala stated, PAY YOURSELF FIRST. The earlier in life you begin this habit, the more financially free you will become. Saving consistently and investing wisely can bring wealth into your life.
You can go to the financial plan on this website, hit on it, and then hit on the financial plan and instructions to complete your own. Do this every year and focus on being specific with your goals. Example: I will save $300 every month into my Roth IRA, rather than I will try to save a decent amount of money each month. Be specific, right it down, and DO IT!
Okay I’m connevcid. Let’s put it to action.
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