Importance of Financial Planning & Higher Education

Importance of Financial Planning & Higher Education

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Importance of Financial Planning & Higher Education

Financial planning refers to a continuous process that helps an individual make sensible and accurate decisions on how to spend money in the activities that help in achieving one’s goals in life while education is the process of facilitating learning and gaining knowledge, skills, values, beliefs and habits. The two go hand in hand since they both contribute to a successful life. With higher education one acquires skills on a specific field say, business, human resource and such, it is from this knowledge that individuals build their career or profession which is part of their success in life. On the other hand, financial planning helps in solving various problems to achieve individual’s goals.

Both personal financial planning and education are very critical in the event of having a successful life. First, education builds the foundation of what one is and what one is going to become in future. For instance, if one has pursued medicine in his or her higher education, they are going to be doctors and if they pursue business their professions would be mangers or administrators. These professions earn the individuals salary which they have to manage appropriately in order to carry out the activities that help in achieving their goals and hence become successful in life. However, acquiring these big salaries is not a guarantee that the individuals will have a successful life because if they do not manage the money appropriately they may not achieve their goals in life and hence emerging as failures.

In conclusion, the reading and the presentations have been great since they have changed my perspective about personal financial planning and higher education. This is because through them, I now know that education paves way for building a brighter and a successful life by providing opportunities in distinct fields. With financial planning, one establishes his or her goals in life and evaluate the current financial situation which helps the individuals have confidence of where they are going in life as well as gain control and peace of mind through knowing whether one is on the right track for the future they want.