I am over 28 years old and till today, I had never actually sat down and done any financial planning, be it short or long term. Heck the max financial planning I have done till now is figuring out, how to put together enough funds/limit on my credit card to allow me to purchase something I wanted!
Outstanding balance on my credit card and no savings to speak off!
So finally, after reading a lot of financial articles and deciding earlier last month to start saving a little, I today sat down and did some planning. Nothing long term, just a year end goal which I want to start working on, to ensure that I can finally start earning some interest, instead of paying it to my credit card company!
Of course this does means that at least for the foreseeable future, I won’t be able to buy any new lenses, filters or gadgets etc. but if I manage to attain the goals I have set for myself, I wouldn’t really have to depend and wait for the payment from the advertisers coming each month, in order to meet my monthly expenditure.
I know this is something I should have done a long time ago and my family, who have been extremely supportive of me, had been advising me to do the same and I never actually paid much attention to it. But I seriously hope that it isn’t too late for me to start financial planning, saving and investing.
The first stepping stone to this is to get rid of my debts completely, lets see how much time it takes for me to be able to do that and whether or not I am able to curtail my desires long enough for it to not rise up again!