In this part, I am dealing with the importance of setting goals for your personal financial plan. As we aware, without a goal, any action to go ahead is useless. The major stone of a financial plan is the goals that setting by you. Here is the article to deal with your goals as the first step of financial planning.
I am taking the quote here is “most people don’t plan to fail; they just fail to plan”. This is extremely correct in most of the financial planning case. A good percentage of people still not aware what is financial planning and how to deal with that? In simple word, financial planning is some early disciplined actions to achieve all your pre-determined goals. Any financial planning should laid on strong goals that to be achieved though well disciplined and continuous action for a determined period of time.A well written goals and breaking these goals to both long term, mid term and short term, achieving knowledge on how to achieve these goals and checking the progress to achieving these determined goals will be your basic steps to deal with such errors.
This is Part 1 in a series on Top personal financial planning mistakes. The full series is Part 1, Part 2, Part 3, Part 4, Part 5 and Part 6