Talking about financial planning, it is better to see how you want youself to be during your retirement later. During that time you should not worry about your financial state. You should enjoy more of your life rather than continue striving to earn your income.
Start making the right decision for every things that have the options of which is the best in saving your money while producing the best results. To make it simple we can say that we need to optimize every even little things that happening in our life. The small things will accumulate and able cause big differences in your latter life.
There are few stages in life that we can generally be categorized. It started from childhood life then goes to teen, single adult, married adult and retire/old adult. Each of these stages should have proper planning on how we conduct our decision making process especially about minimizing your spending to get the best result.
There are 5 steps for you to conduct your financial planning:
1. Really know your financial condition
2. Create your goal(s)
3. Produce your financial plan
4. Act according to the plan
5. Do continuous improvement on it
We will discuss more on this later.
All the best..