What is Personal Finance Planning Not:
Not living Small
Personal Financial Planning is
Not about cutting back on your lattes or Kappis
Not about Taking the public transportation
Not about having a frugal wedding
Not about being cheap
Not about giving up your avocado sandwich or chappan bhog
Not about buying a hatchback instead of a Sedan
Not Getting Massive Returns on your investments
Not about getting double digit returns with low or no risk.
Not finding the next Multi Bagger Stock.
Not about investing in exclusive opportunities known to no one else
Not about buying at the bottom of the market and selling at the top
Not about finding the one mutual fund which will fulfill all your needs
Not about investing in a hundred different instruments in the name of diversification
Not about becoming a millionaire/ billionaire.
What is Personal Finance Planning about then?
It is about
Knowing yourself.
Knowing what is truly important to you and prioritizing it.
Not compromising the long term goals for the short term impulsive wants.
Taking responsibility for your commitments
Protecting your family.
Protecting your wealth.
Having a plan for your wish list
Ensure that you don’t have to live on hope and prayer or on alms due to any bad surprises in life.
Designing your future the way you want it to be.
And taking actions towards it and making course correction as we go along.
It is not about your money. It is about your life.
Indeed, personal finance is not about making, saving or investing money. It is about managing finances smartly so that money isn’t an obstacle when it comes to fulfilling your goals and funding desired habits.
Nice and clear explanation for those who lose their joy of present in search of a safe and secure future which we are not aware what is left in
It works both ways. We need to strike a balance.
Thank you for an interesting & truthful post.
thanks. It is interesting how everything about our life is enhanced when we understand ourselves better.
Yes, Let’s be clear about what we want really apart from our family obligations
Yes. When we don’t know our destination, we tend to travel in circles.