Reflection About Finance

After reading through and overviewing the first topic, “Getting Started,” I came to the conclusion that finance is much more of a broad topic than what I originally imagined. I have always been thinking about my future, and finance was the perfect subject to help me even more.In order to have a successful life, we need to plan ahead and thing of every possible aspect in which we are going to live our lives. The way we plan our lives is the way it will go. The sooner we plan our finances the better off we will be. That is why I started off planning my future as soon as I was in high school. Financial planning goes beyond the simple saving and spending, it is the most important decisions one has to make to make sure they have a successful future.

When I was a young teenager, I immediately found myself a job as soon as I was eligible to work with a working permit. I took the opportunity so I could start learning the meaning of responsibilities, so I would be ready for my future. Starting work at a young age, I not only learned responsibility, but also how to support myself on my own two feet. Being able to learn how to support myself at such a young age, it gave me an insight on my financial plans and goals. After reading throughout the section, I realize that now is a good time to put everything I learned towards my current financial goals and plans. The first step where my financial planning comes into play is the simplest thing as paying your bills. I work and pay my own bills even though I do live with my family. I have to save as much as I can, considering the fact that every pay check either goes to my bills or car payment. The second step is to develop goals. One of the goals I want to set is to save a certain amount of money before the age of 25, so I can have a set back up savings for my future. The third step is to identify and evaluate strategies to achieve these goals. The fourth step is to establish and implement the plan. The last and fifth step is to evaluate and revise my plan as needed in order for me to achieve these