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Columns : Investing in You - Glenn S. Ferguson Last Updated: Jun 20, 2014 - 5:05:44 PM


The Most Important Aspect of Financial Planning
By Glenn Ferguson
Jun 23, 2010 - 9:50:17 PM

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You may not realize it but the most important aspect of financial planning is you. That is right it’s all about you! And while there may be some financial things you have to do it all come down to you.

And your financial success or lack thereof is predicated on your ability to understand and make informed and effective decisions about the use and management of your money.

So here are seven things you have to do if you are going to take control of your financial future.

1. Forget About it!

What ever happened in the pass is gone so just forget about it. Money is described in financial circles as being a "liquid asset" which indicates that it has all the characteristics as water. As water spilled on the ground cannot be gathered up again so it is with money wasted. So do not frustrate yourself with your pass actions just forget about it.

2. Start Now!

Forget about yesterday but begin today to take control of your money. While you cannot change yesterday you can greatly influence tomorrow. Never forget that it is not money that builds wealth - it is time. By not starting now you are throwing time away and you cannot afford to do that.

3. Get Committed!

Your financial freedom makes a huge difference in the quality of your life yet it is created not by huge thing but by doing lots of little things right over a long period of time. Doing the little things take commitment.

You must never forget that all success whether in business, in relationships or in life, comes at the end of the road of commitment!

4. Put It In Writing!

If you are not setting specific financial objectives and implementing a workable plan in writing, then you are setting yourself up for disappointment.
Are your financial goals in writing?

Do you have a step-by-step action plan that will lead to your financial success?
If not, then now is a good time to sit down and get started and Taking Control of Your Money workbook will help you discover the secrets to getting started.

5. Stop Over Spending!

The cost of your undisciplined spending is your financial future. Your money is a resource that must be conserved and focused on your goals. Anything less is wasteful. You must never forget that every dollar you spent has the potential for jeopardizing rather than enhancing your future.

6. Control Your Time.

There is no question that money is a scarce resource but an even scarcer resource is your time. So you need to guard it jealously and make sure that you are always using it for your maximum benefit. And do not fall into the trap of believing that time is money. No way money mistakes can be corrected but time mistakes can never be corrected. Once you have lost time it is gone forever.

7. Control Your Risk.

Never allow yourself to be blinded by the returns of an investment by remembering that the key to making money is not to lose it. And it is always better to grow your money slowly than to look for quick gains.

Without you disciplining yourself to do these seven things you will have no chance of achieving your financial plan, because controlling you is the most important aspect of your financial planning.

And here is a resource that can help you discover the secrets to Take Control of Your Money and get you started with your financial planning.

Copyright © 2010 - Glenn S. Ferguson

Glenn Ferguson is a Speaker, Coach and Syndicated Writer, helping you to painlessly take control of your money to create wealth for you and your family. Email to: glenn@financialcoachingwithglenn.com   Web site: www.financialcoachingwithglenn.com



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