The Importance Of Financial Plans
2.Savings obtained with the help of planning provide people with some level of emotional comfort that is associated with the need for protection from the Maslow’s hierarchy of needs. Without the plan and money you’ll not have the protection needs covered and can’t be happy.
3.Savings remove the cause of conflict that is associated with the domestic disputes based on the lack of money. It is a common knowledge that families with solid financial health usually do not have quarrels associated with the limited funds. Without a plan and money, people are likely to quarrel about the money spent/wasted/lost and certainly give pain to each other.
4.Savings provide psychological comfort associated with the ability to give something to others (pay for children’s college, donate to the charity etc.) Without the money/plan you can’t anyhow contribute to your posterity and certainly will incur suffering because of such financial …show more content…
In order for the individual to create such plan, one has to know well his/her incomes and expenses to know how much to dedicate to the savings plan. One should also remember that without the proper financial plan the individual will experience all the hardships and pain that can happen when there is not money and when there is little opportunity to start everything from scratch. The articles depicted in the essay all speak about different benefits of proper financial plans and hint that without them, people are likely to have less happiness and less opportunities. The articles notes on different ways of how to save money be it a wedding or a retirement plan. In all these articles it was hinted that people who want to be happy till their last day should have the financial freedom that is guaranteed by a proper financial plan. People without such plans are controlled by others and thus incur mental