Our financial choices go along way in determining our financial health. There are financial choices which could be made that might be regretted if not looked into.
The role of money in everyone’s life cannot be overemphasized; it thereby makes it imperative to discuss the financial choices you might stand to regret in the future if no effort is made to correct it at the present.
Having no Financial Plan(Budget)
Without a financial plan, you might find it hard to achieve your financial goals; and without a financial goal as well, you might find it hard to budget; and without a budget, you will definitely not have an organised financial life which will in turn aid your financial freedom.
Having no Savings & Emergency Fund
If you earn money and live without setting aside money for the future, investment or for an unsolicited emergency, you may live all your life struggling with your finances.
A good financial life you will not stand to regret is setting aside money each time money comes into your hand for savings and emergency. If you don’t have an emergency savings funds, it can affect your finance negatively because you tend to take out of your steady income to sort your financial needs when they arise.
Not Having A Financial Policy
Living life without a policy you made for yourself is but a way of leaving your life to anything can happen; and so is it with your financial life.
Have a policy that guides the kind of things you spend your money on, the way you want to spend your money and what drives your spending.
Any individual, both great and small that maps for himself a financial plan and budget, always set aside a savings and emergency fund, have a well followed financial policy, is bound to experience financial freedom in a no distant time.
See Also: HOW TO STEP UP YOUR FINANCIAL STATUS