Financial Planning

Financial planning.

Does the hard earned money really used for this purpose? Everyone needs money for his or her sustenance, comfort and old age. How many of us still try hard to make ends meet just to fulfill every months basic needs? How much is really too much money? When this is the case how can we save money from the meager income that we get? How can we grow or make optimal use of the finance that we normally handle? Who we are or how much we earn is of less concern as long as we can manage and plan our finances wisely.

Questions like this cloud our minds most often as we fail to manage our finances efficiently. A pauper can become rich and a rich man can suddenly lose his wealth if his financial planning is improper. They go in search of astrologers who will live out of them by changing their names and houses. Usually people blame their stars for their misfortune. They find solace in blaming others be it God or stars for their backdrop. We earn to live happily with comforts but we forget to pay ourselves for all the hard work we put in. we pay for everything in this world, do we pay ourselves for the service we do to our family, nation and society.

Insecurity and thoughts of one's future might lead to depression and frustration. "Make hay while the sunshine's" as the popular saying goes is the golden rule every human being should definitely follow. In the western countries they make it a habit to save 10% of their personal income for their own future use, a millionaire once said, "I am glad I am worth at least 10% of what I earn" . Jot down your financial position as of today. Better late than never, just sit with a planner and take stock of where you are now. Set long time and short time goals in life and set a imeline to achieve that goal in time. Attitude is very important in any major life changes that you might ncounter.

Then carefully think about how you can achieve the goal and what you can do to go where you want to go. Thus set your attitude as if you are planning a vacation. Financial planning is just like your vacation planning. So you first decide the vacation spot, and then set out to make reservations, then pack. your bag and then leave. First you should fix your target, then make certain changes in your life style, like cutting down your pizza or sacrificing your cigars, then pack up or wind up your extra expenses and start the savings plan when that is dome just relax and enjoy the fruits of your unparallel and diplomatic achievement. Financial planning provides the reassurance that your future in Canada and all around the world that secures you to live in the comfort as you would like. Your money will start growing and so will your self- esteem and self- confidence and finally you are efficient and capable to finance your kids higher studies or retire peacefully with the recurring income from the timely savings.