PHOTO CREDIT: Getty. Beggar used for Illustrating the story.

I was at a restaurant in Ibadan, Nigeria last week to eat amala, we were on a queue, then I noticed this man infront of me, he had begged me for money before, you will hardly know he is a beggar because he look fairly decent. I was prepared to take care of his bill.

As money mathematician that I am, my plan was to spend #500 for my meal, and I thought adding extra #500 for this man’s meal won’t be totally out of my budget, though he was unaware of my intention.

To my utmost suprise, he pointed at a big meat (bokoto) of #800, amala #200, a bottle of malt drink #200 making #1,200.

I just looked away.

I later saw him same evening, back to his begging business.

Many people are like this beggar they live a day at a time.
They spend without proper planning, hoping another free money will soon come.

You cannot afford to live your life this way. You need to create a personal financial plan for your life, and that is the sure way to manage your money and attain financial success.

Of course, creating a financial plan is
a whole lot easier said than done.

I remember when I first started, I was so confused about financial planning. I was barely making money, didn’t have a clue about budgeting or money management.

If you are reading this post, then you obviously want to begin managing your money instead of having your money manage you.

I know it may sounds hard, but you can become financially successful and all it takes is a financial plan – and a willingness to actually follow your plan.

So what do you need to get started to begin creating your own personal financial plan?

The starting point is to know what a financial plan is.

A personal financial plan is a living document that helps you determine how your money is going to be spent.

It is partly based on:
Debt reduction
Income generation
Savings goals (including retirement).

You will plan all this in line with your life goals.

Start today to create the future you desire.

Temi Alade-Mustapha, is the Founder, Money Mathematicians and Investor’s network.

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