No doubt that financial planning is important. It is so important that it seems illogical that many avoid so.
I believe that after a few decades of being a customer, and an insider to a few financial institutions, the main reason for many of us avoid doing or even starting any financial planning is FEAR.
Fear of having to face the reality of a mount of debt
fear of having to restrict spending
fear of knowing how much in a mess you are
those are among the reasons many people avoid financial planning.
This fear is exactly the same as those who doesn’t want to go to the doctor of fearing that a disease will be discovered.
Their own shadows haunts them!
I believe that this fear has real fact basis.
Most of us are afraid of the reality and we either wait until it’s too late or, worse, when things get out of hand.
We then spend months, if not years trying to fix our financials, only to find out that we have no money left in our accounts. It is like letting cancer grow from stage 1 to stage 4; it doesn’t make any sense.
At times, getting satisfied with less than your full capacity can be as rewarding as reaching your full potential.
It’s okay to settle for less.
It’s not a bad thing to be content with what you have.
There are times when it is healthy to be satisfied with the status quo.
However, there are also times when it is important to break out of this status quo and rise up to meet your full potential, even if that means putting yourself through pain and distress.
It is through experiencing the pain of the truth, that good things can come out of it.
So, for those who are afraid to start financial planning, I think that the only way to overcome the fear is to actually face the fear, and start financial planning.
It’s not easy at all as some of you may be aware, it’s as difficult as climbing Mount Everest.
However, it is worth taking the risk because once you are able to conquer this feat, the reward will be great enough for you.
Credit: Enze Azrul