It has been said that anyone who earns an income and pays bills does financial planning. This is true, but only in the broadest sense. When you start looking at the details, you find there's a lot more involved than just earning and paying. Of course, we don't have to tell you that. And though you aren't a financial planner, nor an investment advisory, you can be alert to the nine worst, potentially most costly insurance and financial planning mistakes in managing finances.
Most people spend more time planning their vacation than they do planning their financial future.
To the extent most people have done any planning, it's typically been on a piecemeal basis, and usually they receive different advice from different people at different times, with none of them referring to what the others may have done. It's recommended on person act as coordinator and catalyst. No Systematic Investment Plan . One should try to save and invest ten percent or more of his or her gross income monthly. Most people are about three months away from bankruptcy.