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The Right Ideas for Financial Planning
Updated Date 5 Feb 2020
Commonly, people live their lives following their emotion and attach more importance to the present than the future because their brain usually command themselves uncontrollably to do everything for the present happiness and convenience rather than postpone such things to conquer happiness in the future.
Why Should We Draw Up a Plan?
Try imagining that we want to travel from Bangkok to Chiang Mai next month. We may satisfy ourselves by reserving a plane tickets just a few days in advance, or if the plane was fully booked, we may select to travel by other public transportations or even drive our own car. Actually, we can travel to Chiang Mai by any means of vehicles but when we think about convenience, expense and the time that we shall waste, we will surely find out that it is much cheaper to buying plane tickets in advance than buying them near the travelling date. Moreover, it also saves time and is much safer from accidents than going by other means. In conclusion, if we plan a trip well, we can sketch our own way of travel as well as proper period of time and appropriate budget. 
The Financial Planning
When the retirement come after many years of working, we all realized that, the time of earning income is going to end shortly. Despite having no income, the living expenses still exist such as cost of food, house and personal health care. In case when we even have medical problems, we may have to spend all of our savings to treat our health.  Nevertheless, whether we have a financial plan or not but all of us have to reach the retirement period. Therefore, when that time comes, the one who has financial plan will get better convenience and good quality of life, which is obviously different from the one who has no financial plan.

The above figure shows that, in every period of life, we always have various expenses to spend, either the general expense i.e. household expenses, electricity, water supply, food or expense etc., or the additional expense set as the financial goal i.e. tuition fee for studying master degree, buying house and/or car, marriage ceremony, raising children and retirement period. Definitely, while we still work, we earn income regularly and can pay all expenses. At that moment when we retire and have no income, consequently; without good financial plan, who will be responsible for our expenses?

Accordingly, when we are still being the income-earner, we should not forget to allocate money for investment and spending after retirement. The faster you have financial plans, the more opportunities to reach financial success you would have.