Things To Avoid In Your Individual Financial Plan

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A Large List Of Financial Goals

A financial plan goes a long way if the number of goals is not more than what you can track. It is suggested to not have more than 3 to 5 goals at a time. A large list is an indication of your ever growing greed for consumerism. Needs are limited, greed is unlimited.

Our bodies are really small. It’s madness to desire so much when it can hold so little.

Prioritizing Short Term Goals Over Long Term Goals

Goals like buying a car or an international holiday should not find precedence over your top most goals like retirement or paying off your debt.  Short term goals discount and ignore stuff that will do us good in the longer term by chasing things that won’t do us any good at all. The focus of any financial plan should be to not die poor.

Planning For Children’s Marriage

You are not responsible to get your kids married. Do not be an emotional fools. One must limit their responsibility to getting their kids educated. After that, they are on their own.

Not Having Specific Written Goals

It is estimated that only 3% of the population has specific and clearly written goals. Rest of the population only has hopes, dreams, and fantasies. It’s a tragedy to be in the 97% of the population. Once you have a clear written goal, creating systems around those goals work best for you in the longer term.

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You are being taught the wrong things about money. I learn and share ideas to change the way you think about money.
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