Money management plan
If you are organizing a family trip, do you arrange and prepare it all at the last minute? Of course not! Firstly, you must get consent from your family members. Then you need to decide where to go, for how long, how many days off you need to take, and how much it will cost in total. You will also have to determine where you will go, on a tour or on your own, and by what means of transport. In other words, you decide on a goal – a great trip – and go step-by-step to figure out what you need to do to turn your idea into reality.
You should do the same with your money. Many people go shopping, enjoy cuisine, and then become nervous about their bills because they don’t have enough money. Or, they wonder why they never have money for what they really need.
"IF THEY SET CLEAR GOALS, MADE A PLAN TO ACHIEVE THEM, AND A FOLLOW-UP SUCH PLAN, THEY WOULD BE LESS STRESSED AND MUCH HAPPIER."
When we were first introduced to Tuan and Mai, we got a basic understanding of their financial situations and short-term goals. So, what do they need to do to realize their aspirations? Will Tuan choose a motorbike he likes but that he can’t afford, and will Mai use all her pocket money, living expenses, and school fees in the next 3 months to buy a laptop? To achieve their goals without negative financial pressure, Tuan and Mai need a financial plan. A financial plan is a set of guidelines that helps us to confidently make the right financial decisions and action plans.
In the process of building a personal financial plan, the first important step is to figure out your goals, and to determine what you really want. This book will help you to define a goal and make a plan to achieve it. But first, you need to know your financial health.
