What are the advantages of starting financial planning early ?
If you start financial planning early, it will give you a head start in meeting your financial objectives. Saving and investment is not the most important priority for many young professionals. While lifestyle is an important consideration, you should be careful to not build any liabilities in your personal balance sheet. A small amount of money saved now can create wealth for you in the future.
The benefit of an early start in financial planning includes putting your savings and investments on autopilot, with minimal impact on your lifestyle. You will realise its benefits when you approach important life goals, like buying a house, funding your children’s higher education, your own retirement etc. It can also help you buy adequate life and health insurance at much lower premiums, as the premiums rise rapidly as your age increases.
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