Friday, July 30, 2010

Financial planning

A lot of people me around don't really do a lot of financial planning. Either it is for name sake or it is not done at all. I hear this all the time

"I don’t have time for this", "Where am I going…I will do this over the weekend", “He” takes care of it", "I earn enough money…my needs are few!", "Only rich people who earn a lot need to worry about financial planning", "Work like a donkey, since that is what life is all about" (though I dont like donkey being used in the phrase since I like them)

Well, I call all this "Utter nonsense!". Everyone needs to do financial planning. It is a must! The sooner you start, the better...the more time you can give to it, the better. It helps you plan for the future, plan for unknowns, live a better life, if needed retire early and do something you always dreamed of...and yes, all this will be possible if you manage your money better. The only way to do this effectively is to take time and interest into building and planning this.

Over the course of the next few posts, I will discuss some of they key areas for planning, as well as some of my views on how best it is done...till then...have a good one!