IMPORTANCE OF MAKING A PLAN FOR YOUR FINANCIAL GOALS

First we need to ask ourselves; do I really need to invest my savings? Is it better to invest than to save? What are the benefits of saving vs. investing? If you have the answers to these questions well and good, now let’s put up a plan for whether to continue saving or invest.

If you have long term goals I suggest you invest, if you have short term goals saving would be the best choice. Let’s look at the table below;

Set your savings goals As you can see from the table above, you probably have quite a few financial goals. They’ll all have different timescales, which means you might want to do some savings and some investing. That’s why it’s important to make a plan.

If you want to know how to get rich, history has shown investing in good businesses is a good place to start. Yet, unless you are good at saving money, investing in good businesses is not likely something you can do. It's important that you do not despise the day of small beginnings. No matter how small your savings account is now, with wise stewardship and disciplined cost cutting, you can someday be incredibly wealthy. Start today and thank me later but you have to do something. You need to act now. IF YOU FOUND THIS ARTICLE USEFUL SHARE, TWEET, LIKE AND DON’T FORGET TO SUBSCRIBE.