Financial Life Planning

Some Key Points about Financial Life Planning

Financial life planning C's

1) Chance - Making a personal and financial change also starts with first giving yourself a chance. Ironically, most people are the very ones who are
taking the chance away from themselves. Just so I demonstrate my point, do you recall any moment in your life where you have passed up a golden chance and if you have took it, you might have been better today? For example, if you have once passed up a scholarship offer, you are stealing a good academic education offer from yourself. While what happened in the past cannot be changed, the next best time to do so is NOW – and it starts with saying to yourself, “You have got yourself a chance. Do it right!”

2) Culture - If you have been born into an affluent family with less family problems, less money problems, but you want to pursue wealth beyond what your parents can bring into the family – I would have to say it bluntly to you, “It is harder for you to be richer than a poor person!” Huh? Why is that? In my personal opinion, this is the hardest ‘C’ of all ‘C’s. A wise man once said,”The enemy of great life is good life.” And I tend to agree with him, whoever he was. I am sure you notice that most self-made rich people today were once upon a time poor or had very little possessions. But what about those who were already born into the affluent family? You have guessed it. They were born into a good family. They lived a good life – and probably died good, too. But they were never great! Of course, I cannot say the same for all of them, but it is often up to a person’s culture to change. If you hardly ever had any problems to overcome before this and now you want to pursue your wealth, man, you still have a lot to learn! Talk about being born with a silver spoon!

3) Control - Next ‘C’ in the line – changing means taking control first! When your financial situation is out of control, only YOU can take control
of it. Not your parents, not your spouse, not your boss, not your neighbor next door, and no, not your dog, either. After all, this is the most sensible
thing to do so there should be debate on this, right?

Financial life planning is a function of practice of these points, to achive a vetter financial life planning learn them and start to practice them.

4) Conviction - This is not going to be easy, either. However, it takes some guts to admit that you were previously wrong or foolish about not taking
control of your finances.After all, it opens doors to new possibilities so why not accept new ideas and ways on managing your funds rather than stick to what is not working and still claim it works? The definition of insanity is one who does the same thing over and over again yet expects different
results!

5) Circumstances - Life for you was merry, perhaps… until things go upside down and take its turn for the worst. Very often, it takes a change in the financial circumstances for someone to make a mental shift in changing in his financial situation for the better. For example, if you are on the brink
of losing your one and only house, you are surely all prepared to stop that from happening – the kind of determination you did not have before.

6) Convenience - I have discussed about the “comfort zone” earlier, and here is another. I am not referring to the same “comfort zone”, but it is better convenience that makes people want to change for the better financially. For example, earning a bigger income entitles you to spend more and maybe invest more as well. Thus, you are willing to sacrifice staying at the same “comfort zone” to work on something else more worthwhile.

7) Company - The last ‘C’ component that you need in order to change for a better financial life is to have a healthy company of friends. That can
mean discarding old friends who push you down and making new friends with people who are willing to help pull you up. Having highlighted to you the 17 ‘C’ ingredients of changing your financial situation, there is no more for guessing on how to change for the better – but just have them put into practice in real life!