Throughout our lifetime, many actions we take are likely to have a significant impact on our financial position. Our career, the type of accomodation or care we buy, how much of our money to invest and where are just a few examples. Most of the time, we hope that these choices will improve our standard of living and quality of life.
Although our quality of life may depend on factors like the environment, traffic conditions, availablilty of good health care and education, our level of wealth is often viewed as the primary determinant. Having certain material possessions - such as a home with nice furnishings and a big car - or being able to enjoy a holiday in another country is often associated with the good life and a high standard of living. But in a world where change is the only constant, raising one's stnadard of living is becoming more and more difficult. There are many unforeseeable events that will have a strong influence on our lives. Building up a certain amount of defence against these calamities is therefore absolutely crucial. What our parents took for granted - owning a home and having substantial savings for retirement is no longer an easy feat. It may require both the husband and wife to work, which will have a profound impact on the quality of life.
This makes careful planning of our finances even more crucial in attaining our goals. Through planning, it also enable us to get the highest satisfaction from our money.. Every dollar can be stretched to its fullest purchasing potential. It wold also allow us to accumulate wealth in the most efficient manner. In addition, planning allows us to have a sense of security that will substantially increase our state of wellbeing. Essentially, planning provides a better idea of what we should do with our money in order to reach our financial goals.
Although our quality of life may depend on factors like the environment, traffic conditions, availablilty of good health care and education, our level of wealth is often viewed as the primary determinant. Having certain material possessions - such as a home with nice furnishings and a big car - or being able to enjoy a holiday in another country is often associated with the good life and a high standard of living. But in a world where change is the only constant, raising one's stnadard of living is becoming more and more difficult. There are many unforeseeable events that will have a strong influence on our lives. Building up a certain amount of defence against these calamities is therefore absolutely crucial. What our parents took for granted - owning a home and having substantial savings for retirement is no longer an easy feat. It may require both the husband and wife to work, which will have a profound impact on the quality of life.
This makes careful planning of our finances even more crucial in attaining our goals. Through planning, it also enable us to get the highest satisfaction from our money.. Every dollar can be stretched to its fullest purchasing potential. It wold also allow us to accumulate wealth in the most efficient manner. In addition, planning allows us to have a sense of security that will substantially increase our state of wellbeing. Essentially, planning provides a better idea of what we should do with our money in order to reach our financial goals.
