No matter how much income you are bringing in, it simply makes sense to have a financial plan ready that suits your life. If you are not following a budget with the future in mind, then it is highly likely that you have a negative net worth. Financial life planning is definitely something you need to look into.
Managed Money
When you manage your money, you will find that you are happier than the times that you did not manage it. One reason for this is that you are not constantly running out of money at the end of the month and you have money in a savings account in case an emergency happens.
Forced Budget
When you plan your finances, you are forced to budget because that is literally the backbone of the plan. By budgeting, you know exactly how much you are spending on bills and you have a set allowance that allows you to have discretionary income at a level you can live with.
Eliminate Debt
The easiest way to eliminate debt is is to control your spending. If you are not in control of your expenses, it is very difficult to reduce your debt because you will have very little to direct towards it.
Retirement
If you plan on retiring, you will definitely need to consider financial life planning. Commonly-cited statistics show that very few people have enough money in the bank to be able to retire comfortably. Through a combination of saving and investing, you will be more likely to achieve your goals.
