financial planning

Impulsive spending can hurt your future severely

Do you have the bad habit of unnecessary shopping without the need of a particular thing?

Do you spend without thinking?

Is eating out, partying and spending without any conscious a part of your monthly spending structure?

Then it is time for you to understand that impulsive spending behaviour will not land you anywhere in the long run. You might have a handsome pay package at present. But have you ever thought what will happen if it reduces or suddenly stops?

Will you be able to live according to your present lifestyle?

Absolutely not. Without a concrete financial plan and budget, it is hard to have a backup plan for your future. Your income might be enough for spending it for your daily expenses. But do you have the provision to save for your future, which is uncertain.

A fat pay cheque does not promise a great lifestyle.

An insightful saving and spending financial plan does….

Not every spend you do, is essential

With the increase in the use of plastic money, e-commerce and online banking, we are attracted to spend more and more, as its impact do not hurt us immediately. Our spending patterns have changed for money does not leaves our wallet soon after a purchase. This leads to overspending, for you tend to get lured in the bait of discount and sale offers. We spend what is not needed, and forget that just being able to afford a thing does not mean we ought to purchase it.

Without a proper financial plan for spending patterns, it is hard to track your unnecessary spends, which could have been an important part of your savings plan.

A financial plan does not necessary mean how you invest or save, it also comprises of the decision of spending.

A stitch in time saves nine

Planning for future sooner makes you confident and secure about your lifestyle in later years. Often, the first step is the hardest in any journey, rest of the efforts follow if you wish to start the journey of financial liberation, start today by planning not only your savings but also your spending, for planning in advance saves you from thinking about the same at a later stage.

It is hard to carry a big stone, but if we break the same in small pebbles, it becomes easy to carry the load. Similarly, if you start taking smaller steps for your financial freedom, you would be in a better position to take care of your responsibilities in the future.

So stop thinking, start financial planning now….

Failing to plan means planning to fail

Reckless buying and spending without thinking about future is not the characteristic of the wise. An age old saying says, spend only when you have set aside enough for the future. By merely spending without a future plan regarding your finances may appear normal at present, but is not the right thing to do. You might think, how much a dinner, movie or a home delivery food parcel may affect your finances, but for once, sit down and start counting how much share it takes in your spending chart.

Just try planning your finances for a month, and see the magical difference of a financial plan to bring you financial freedom and security in the long run.

Without an actionable plan, it is hard for you to succeed on your future path…

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