Head of Client Services at Stanbic Investment Management Services, Desmond Bredu, has emphasized on the importance of making a financial plan.
Financial planning as he explained, is basically everything concerning one’s money and how they achieve their money goals. He said this during an interview with Mrs. Comfort Ocranon the Springboard Hangout Show which airs on eTV Ghana.
Desmond mentioned that one sure way of not attaining financial independence is not making a financial plan. Therefore, although unforeseen circumstances may come up and cause certain plans not to go as expected, it is still the best idea to have a financial plan.
Having one, according to him, helps you to know what is in your control and what is not so that you work on what you can control.
He added that some key questions to keep in mind when making a financial plan is “where are you, where do you want to get to and how do you plan on getting there?”
He noted that financial planning has many facets like investments, budgeting and a whole lot. Nevertheless, the basic principle is guiding yourself with the question of ‘how do I achieve the goals that I have for myself’.
He further stated that failing to ask yourself these questions is the first mistake one can make because that means you will have no solid plan towards financial success.
By: Maureen Dedei Quaye
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