When I write some post on personal finance or financial planning then I am often asked by my friends, “Do you really think It’s necessary ?” Some of them tell me that, “Who knows whether we will live till 60s or 70s ! Don’t worry about that time. Enjoy this moment. ” Sometime I also think that’s bloody correct..! Why the fuck I am thinking about these shit..? But, It is not true, I will cover, Why? Here, I am trying my best to explain you why It’s necessary and you should think about it. I will try to explain it with my personal point of view.
Well, My first question to you is, What is the Personal Financial Planning according to you?
You might be having any any damn view about it. I Know, Many of you are still thinking 🙂 When personal financial planning comes before your eyes, your mind make you see a Financial Adviser or Insurance Agent or A person in complete formal wear and explaining you some good calls in market to invest in, or something like that.
For me, Personal Financial Planning is less of planning and more of awareness about your future inflows and outflows. It’s about managing your Finance in such a way that you will never need any type of borrowed money or something. It’s about maintaining your respect. It’s about being organized. It’s about being disciplined. It’s about learning how to grow your money. It’s about take the complete charge of your money. It’s about behaving in control. It’s about avoiding impulsive buying. It’s about attracting a better way of life. Like, I always tell my friends. It’s not about money, It’s about the way of life.
As of my friend said, “Who knows whether we will live till 60s or 70s ! Don’t worry about that time. Enjoy this moment.” I am completely disagree with this statement. Why??
Put some efforts and Try to Remember your Standard 6, In that class, You learned a chapter in maths called “Percentage”, some calls it Basis Points. Again remember your Standard 8, You learned a Chapter in Statistics “Probability.” Both are the same chapters just presented in a different way. Now, Point here is,
If you consider the probability that You will die before your retirement is hardly any..! Let’s not talk about retirement. You need to manage your finance to meet other expenses also. In India, The probability of Crossing the age of 40 is 83.4% (As per data from NationalMaster) . So If 100 person are giving me this reason, Out of them , 84 are making suicide unless their father have nice cash generating business :D.
Think about it very carefully. We need to start thinking about money very early so that we can get read of it’s worry very early.
I just want to make a point that,
- Start observing your inflows and outflows.
- Start thinking about your future expenses, first necessary ones and then prioritized ones.
- Start Saving and Learn to Invest Money.
- Observe How money can work for you and make you free.
Again, It’s not about money, It’s about the way of life. Why you want someone to look after you when you can look after yourself ? Personal Financial planning gives you a freedom, It’s about maintaining your dignity. It gives you a change to help to the society. It gives you a chance to help you relatives and friends financially. It gives you a chance to make your parent free from worry about your life and finance.
All it takes is just little bit determination and a wonderful playlist in your mobile. When you take decision of saving money from your paycheques, that music playlist helps you 😛 After all, It’s your wish.
I enjoy saving money and I can see my Money Tree is growing. I hope your also. 😀