I have always seen people who are under the perception that they are financially secure. But they are not. Before you think that you are financially secure , throw some of the questions to yourself.
Do you want to live your life without any financial worries ?
If so , what steps have you taken to make yourself secure?
- Have you gone back to your life and introspected past 5 or 10 years. Did you check what things you have done better financially?
- Did you define any goals and then started investment towards it ?
- How Secure is your financial life?
- What will happen to your family if you are no more?
- Are you rich?
- Have you made your money to work for you?
Please ask yourself all these questions and get yourself answered honestly. If you are satisfied with all the steps you have taken, I would appreciate you for being a “Financially Literate Person”.
But if you feel that you could have done more and managed it way better , then please Continue reading….
why did I ask all these questions ?
Because People procrastinate. You may not like to question your ability. You always think that you are supreme. Same is the case with me also. For me, I am always Supreme. Whatever I do is always Correct. It is HUMAN BEHAVIOR.
Just ask yourself and come to a conclusion whether you are happy with your current financial life.
If I speak of myself, I am proud to admit that I SUCKED in my initial years of financial planning. I was not at all HAPPY with my financial life.
But It was in the past. Now my perception towards financial planning has changed completely.
So, What did I do ?
“ I started to think and play with NUMBERS”.
That’s all that I did.
Financial Planning is a strategy when one starts to think and take actions.
When I told you that I started to think and play with Numbers, I meant that I started analysing on financial life. These are the general 10 questions that I often go through periodically.
- How much income I am generating?
- Is it Monthly active income or passive income?
- How much expense I am incurring on myself and my family?
- How can I reduce my expense part?
- How much of my earnings are creating Assets for me?
- How much of my earnings are creating liabilities for me?
- How can I increase my Assets and reduce my liabilities?
- Am I beating Inflation?
- Am I on the right path to becoming a Rich Person?
- What Can I do to increase my income?
Here’s a link on How I have my planned my financial life.
Read: Preview of My Investment
Let me know, How you guys ended up doing a financial plan?