~ Turning dream into reality ~

as  student, the day you will have to get a job and earn your keep may still seem a long way off. thus, you may ask:

1.why should i plan my finances..???
there is no one answer to this. however, it's better to think about the future now and the goals that you would like to achieve, such as:

• visiting other countries during holidays
• going overseas to study at a prestigious college
• owning a sport car
• buying your own flat or house
• learning a new hobby like scuba diving, skiiing or slailing
• enjoying a comfortable retirement
• many of these goals reflect a desire  to live well - but living well  costs money, which leads to a second important question.

2.who's going to pay for all of these..??
a simple question deserves a simple answer - YOU are going to pay all the things that are important to you!

these are your dreams and financial goals. you have to plan to make them happen. while many people know this, they often do not do so and do not reach their goals as a result.

3.why is there no planning....??
some commen reasons include:

• "i spent all my money and there is nothing left to save"....no money??? isn't that why you need financial planning in the first place..??
• "i do not have time to do financial planning"....noo time.??? it's true we live in fast-placed world, but if we can find to do a host of other things, why not do something that will positively impact your life forever??
• "i do not know how or where to start."...if you do not know how to plan, the knowledge can be acquired. you don't need to be a chartered accountant to learn how to prepare a financial plan. experience counts too. you will learn quite a lot when you start to balance your budget, pay your bills, look for a house, take a loan and watch the value of stocks rise  and fall. so, a lot of the knowledge comes from actually doing personal finance.
• "there is no need to plan, i will find the money somehow"...no need to plan??many people think that they can get by without planning. didn't we just say that typiceal person has a long wish list of goals??well, it is extremely unlikely that they will achive these goals without proper financial planning.

the bottom line...

planning is essential because we all want to have a quality lifestyle. but a quality lifestyle comes with a big price tag. planning helps you to set clear goals, develop plans for such goals and mantain the discipline to achieve them..

in short, you are more likely to fulfil your dream of quality lifestyle with financial planning than without financial planning..

~ Making $ense of money ~