2007-02-07 21:48:16 · 2 answers · asked by megha 1 in Business & Finance ➔ Personal Finance
It is important to plan as much as possible in your life. Personal finances are no different. The best example I can give is someone who doesn't plan their finances and lives paycheck to paycheck. They spend all their money and save nothing (or very little). Well, what happens when they retire? How will they live if social security is not available? They won't be able to b/c they will have no income coming in. The result, either they work till the day they die or they are homeless.
2007-02-08 08:47:30 · answer #1 · answered by Mark 2 · 0⤊ 0⤋
Personal financial planning is important because it is a basic defending tool against these 3 major unrealized future financial issue. First, inflation. Second, retirement. Third, education cost. So, if you don't do this, there is higher chance that you're going to face these 3 financial issues in the future.
2007-02-11 08:19:10 · answer #2 · answered by ChampDog 3 · 0⤊ 0⤋