The Importance of Financial Planning is a Common Theme in Society, But Is It Enough?
Go to any bookstore and you will find an endless supply of books about the importance of financial planning. All good books to be sure, but is financial planning enough? Maybe there is more to it that just turning over your future to an aggressive financial planner or bank employee. I speak from experience when I say that, like any career field, there are reputable, knowledgeable people in this industry and then there are people who don't have a clue what they are doing.
Many people, the world over, experience great amounts of stress over money and few of us are great at effectively managing this stress. Just because, you don't have enough knowledge-YET, is no reason to take your future and risk it with an inexperienced financial planner. The importance of financial planning cannot be stressed enough, but the reality is that financial wellness is about so much more than just planning. You can have the best plan in the world and still be heading down a path to poverty and fixed incomes.
The financial world, particularly in 2009 and beyond is more unstable and unpredictable than an Atlantic Ocean crossing in the early 1900's. Does anyone remember the Titanic? This instability is one reason why there are so many books on the importance of financial planning.
True financial wellness is not just about planning. It is about problem solving and critical thinking. Without these important skills, the importance of financial planning is completely irrelevant. It will, simply, never matter how many fundamentals of financial management, financial tips, and financial strategies you read about or hear about if you cannot evaluate what you are learning and apply the information to your life.
The consequences of being lazy about staying on top of your financial wellness are huge. The vast majority of my wellness categories grow much worse if you do not achieve and maintain financial wellness. It is not necessary to be rich. You just have to be knowledgeable and you have to be in control.
There are a million options out there to help you improve your financial wellness and planning tools are just one small area.
It is time to get off the couch and start sorting out your finances. Do you need to increase your knowledge? Are you up to speed on banking and investing, debt and credit, mortgages and rental agreements, pensions and benefits, taxes and savings? Have you thought about your job lately or your income lately? Do you make enough money? Is your boss taking the right deductions each month? Do you have any forms of passive income? What will you do if you get hurt and cannot work?
If you do not have a clear handle on all these questions, then it is time to get busy. It is time to learn problem solving and critical thinking skills. Without these key stress management assets, you can never solve your wellness challenges and take back control of your health and your life.
Jill Prince is the "PRINCE OF WELLNESS." She is the author and founder of http://www.strictly-stress-management.com and Solving the Wellness Challenge (TM). Through these companies, Jill teaches people how to solve all their wellness challenges using effective problem solving tools and techniques based on sound business and project management theories. Jill is, currently, a student in a Master's of Business Administration (MBA) Degree program through the University of Athabasca and she is a graduate of the E-Myth Worldwide Business Mastery Impact Program (2008).
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