Bear in mind that these pointers are in no particular order of importance. Everyone hails from a different financial background and, would have different financial goals. When it comes to financial planning, one should see it as both a science and an art, as there is no one-size-fits-all solution for everybody. The first step is always the hardest, not because we do not want to, but because we do not know how to. To help you ease off your first step a little, I have prepared this “Financial planning starter pack” that contains some useful tips and tricks which can help to prepare yourselves for a greater launch. Click HERE to download.
It Is Never Too Early To Start Your Financial Management Journey
I can still remember clearly that back in 2016 when I first graduated, never did I realize how important a sound financial management plan is to a person. Back then, I simply thought that financial management was about having a monthly paycheck coming in on time and saving as much as you can. And soon, a sense of insecurity kicks in as I was planning for my future which is filled with uncertainties. How much savings will be enough? When will I be ready to take on the responsibility of having my own family? Can I afford a car with my current salary and expenditure? Is there a possibility that I could retire earlier than the age that the government has told us to?
With all these questions in mind, I came to realize the importance of financial planning, and how it is interconnected to every single decision in our life. Financial planning is never about finding out which product is the best in the market, or which investment gives you the highest return, but a set of values to help us achieve our financial goal comfortably and systematically.
One last thing before I go, I would really love to hear from you about your financial goals and what are the obstacles to overcome. Share your thoughts with me through the chat box below!
Article by Moo Hau Eng
The writer is a financial adviser representative representing GEN Financial Advisory Pte Ltd.