People with financial plans are much more likely to feel prepared, even in tumultuous times. They're more likely to feel that their dreams and goals are secure. And, oh yes, they do actually save significantly more.
Sentiment: POSITIVE
A good financial plan is a road map that shows us exactly how the choices we make today will affect our future.
Smart financial planning - such as budgeting, saving for emergencies, and preparing for retirement - can help households enjoy better lives while weathering financial shocks. Financial education can play a key role in getting to these outcomes.
So many financial dreams are thwarted by the failure to act upon good intentions.
I see good personal financial management as setting - and keeping - a budget.
Savings is an important tool because it can help the poor deal with the ups and downs of irregular earnings and help them build reserves for a rainy day.
It's OK to have a plan, to invest in your future - for your financial security, your love life, your personal fulfillment, and even your happiness. To have personal happiness as a stated goal doesn't detract from it if you get there.
A financial plan is a way to take all of the money advice you come across and figure out how it applies to your specific financial situation.
Have a well-thought financial plan that is not dependent upon correctly guessing what will happen in the future.
When families save, they can get through emergencies like a bad harvest or a medical emergency. But it's more than that. They can also plan for the future, gradually saving up for a small business or for their children's school tuition.
Thoughtful financial planning can easily take a backseat to daily life.