In life, there are always things that we are good at, and things we are just terrible at. Finance is not something I fancy myself doing at the moment, however, it is, still necessary for the long run in life. Why would I research on managing my finances? Obviously, for the future. No planning for finances may lead to terrible consequences or pocket-tight living conditions in the future, and that is not a joke when we are in our fifties wondering what’s next.
An advantage we have straight up right now is youth. With youth bringing about more energy to go about building our income stream to enjoy vacations and hobbies, we should not fail to neglect on saving up. There are many ways to go about this and one of which is to invest in our minds. Reading up finance knowledge may be boring and dry, however, how many of us can say without proper finance management, we will be able to live a comfortable lifestyle?
By learning the ropes now, we can live a comfortable life when we are older. If you haven’t started putting in at least 15% of what you are earning in a savings fund, it’s best to start today.
If you feel that studying finance management is difficult and not something you would want to spend your time on, there is another alternative, which is to find yourself an expert financial planning advisor. The experts in this field are more likely to plan out a better financial route for you to take as you move to different stages in life. Make sure the saving plans you decide on has decent interest rates. If you are planning to save, why not make some extra cash at the same time?
Other than the usual saving plans, do take note of life insurance too. This nifty little finance module will come in handy in the future when times are hard. Remember those red boxes containing the fire extinguishers that says “Break glass in case of emergency”? Well, these life insurance policies work in a similar fashion too. Yes, you might lose out on the full financial benefit if you wait out the terms for the policy, but in a desperate situation, you have the right to break the bond and gain immediate funds.
Yes I may not be that interested in finance management, but thank goodness there are tons of freely available information out there for me to refer and experts out there to clarify details. If you haven’t started learning, why not start today?