Every person is different. Everyone has his or her own personal goals. These can range from starting a business to taking a dream vacation. With good planning, you can identify and begin working toward short-term, intermediate, and long-term goals. Good financial planning will help you establish an emergency fund that can help you weather any future financial crisis.
Good financial planning can help you determine whether you can eventually afford the car. The earlier you begin, the less money you have to set aside on a regular basis. If you plan carefully, you can set aside money for long-term goals while still having money left over for short-term desires. Take advantage of your freedom and your youth now.
A good financial plan can allow you to have the financial flexibility to make these choices instead of having them made for you. Financial planning can give you those options. You can begin to build your wealth at an early age. Knowledge of financial planning can help you achieve whatever goals you may have in this area.
Personal Financial Literacy – Second Edition – Madura, Casey, Roberts – Pearson