Planning is so important in every area of your life. I used to think that planning slowed things down, and it was better to just get straight into doing a task, but if you work this way, you could end up wasting your time. It's like being on a hiking journey, coming to a crossroads, walking down one path and checking the map later! Without a map you are far more likely to go down the wrong path and will probably end up wasting more time and effort undoing your mistake.
Even with a plan you will make a few mistakes, but some mistakes must never be made. It helps you to look before you leap. If you have the plan of jumping over a wall, and do not check the other side first, you might end up under the wheels of an oncoming train! You can only ensure this via planning. It takes time, but its worth it in the end.
I have a written plan for the next 15 years of my financial life. Its just a brief outline, but it keeps me on track. I have daily, monthly and yearly goals for my finances, and I do my best to stay on target.
When John Darwin was 500k in debt he hatched an elaborate fraud plan to fake his own death in a canoe. It was the stupidest idea ever, but it was planned in detail and he almost got away with it, but he deviated from the original plan. The point is, a plan can make a success out of even the most harebrained idea.
An architect makes plans for a house. Without these plans, many more things will go wrong in building a house. How many houses do you know of which were not designed by an architect beforehand? There's a TV show called Grand Designs where people take on elaborate house building projects. They could never undertake such a job successfully without a plan to make everything clear. The same is true for your finances. The great book: The 7 habits of Highly Effective People says the first habits are to "be proactive" and "begin with the end in mind". Have an end goal in mind, and plan how to achieve it.
Even with a plan you will make a few mistakes, but some mistakes must never be made. It helps you to look before you leap. If you have the plan of jumping over a wall, and do not check the other side first, you might end up under the wheels of an oncoming train! You can only ensure this via planning. It takes time, but its worth it in the end.
I have a written plan for the next 15 years of my financial life. Its just a brief outline, but it keeps me on track. I have daily, monthly and yearly goals for my finances, and I do my best to stay on target.
When John Darwin was 500k in debt he hatched an elaborate fraud plan to fake his own death in a canoe. It was the stupidest idea ever, but it was planned in detail and he almost got away with it, but he deviated from the original plan. The point is, a plan can make a success out of even the most harebrained idea.
An architect makes plans for a house. Without these plans, many more things will go wrong in building a house. How many houses do you know of which were not designed by an architect beforehand? There's a TV show called Grand Designs where people take on elaborate house building projects. They could never undertake such a job successfully without a plan to make everything clear. The same is true for your finances. The great book: The 7 habits of Highly Effective People says the first habits are to "be proactive" and "begin with the end in mind". Have an end goal in mind, and plan how to achieve it.
I start my day by looking through all of my goals and writing a daily plan which allows me to take action on the current month's goals, and covers all eventualities and pitfalls, in order to give myself the best chance of succeeding.
Where are you going in life? Do you have a plan? Is it written down? Today, right now, write down your financial goal for this year, and a plan for achieving it.
Where are you going in life? Do you have a plan? Is it written down? Today, right now, write down your financial goal for this year, and a plan for achieving it.
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