Why Financial Planning Is Important, Pandemic Or Not?
During these unprecedented times, being financially ready can make all the difference. Loss of jobs and reduction in earning have become the new norm for many. Whether you are an employee, a business owner, or self-employed, you are bound to have been affected one way or another by the COVID-19. Financial planning is generally at the bottom of one’s list. Mentioned below are the reasons why financial readiness is critical, pandemic or not: Improved physical & mental health: Lack of money is perhaps one of the biggest contributors of stress. This includes impending bills, financial uncertainty, and lack of budget. Monetary stress isn’t just oppressive but can be lethal as it can trigger emotional and mental distress. When stressed, people are expected to occupy in unwholesome coping mechanisms, which then lead to more health issues. Since there’s a strong connection between physical and mental wellbeing, your body will also suffer. By doing the planning work to get y...