Is it always easy to make a plan? And to stick to it?
Are we so easily daunted by the amount of tasks that comes with planning, especially when it comes to our finances?
Do we wait until we have to rush to get our affairs in order?
The answer is simple. Yes.
To prevent the frustration and at times the anguish that comes with planning, we have a solution.
Planning ahead makes us better prepared. The better prepared we are, the less stress we will experience.
To jump start your planning, we have listed scenarios to show you why planning ahead is important:
Jim is on his way home after a late night on the job. Suddenly, one of his tires burst. Things are a bit tight for him and his family, so he starts to worry, but he then remembers that he and his wife set up an emergency fund for surprises like these.
Sally’s Long-Term Plan
Sally is in her twenties and decides to start planning for retirement. Melanie is in her forties and has never thought of retirement. Since Sally is in her twenties, the amount required will be less than Melanie’s, since time is on Sally’s side. Since Melanie has approximately twenty plus years until retirement, her payments will be larger to accumulate required amount.
From the moment Elizabeth was born, her parents agreed to save for her university education. By the time she turned eighteen, she received a partial scholarship. If her parents had not planned for her education from the day she was born, it would have been a strain on them to support her in educational pursuits.
So, what are you waiting for?
Start planning today!