INFO : How To Plan Your Aim

Assalamualaikum....

I got a valuable opportunity to share my knowledge on Financial Planning to a group of Master Students. Thank you Dr Shifa for inviting.

I've tried to relates the theoretical part of the topic (which has been deliberated in length by most of published writer) , Allah knows how difficult it was since theory and actual reality is like mixing an oil in a water. Or it differs like day and night.

And to top it up, it is more difficult when most of the audience have no visual of what actual they wish to achieve, they do have in vague what they suppose to have (which in general what everyone else with normal thinking also aims to).

My top of the world first advice, do have it in visual what you plan to achieve. Draw a lifeline perhaps, and actual target based on each year. In between, is your strategic plan. For an example, if your plan is to fully pay your car loan in 5 years time, have it drawn on a piece of paper. Then your strategy plan will be the options that you have to choose. You can either get extra money by doing 2nd job, or restructure your loan by consolidating your liabilities or target how much you need to save from your current earning without doing 2nd job.

Why visual? FYI, our mind has been beautifully structured in a way it memorize pictures and colors better. And if you put up the drawing at place where you can always see it, your inner memory will captured the objective and it will be indirectly communicated to your body. Always remember, our actions are fused by what we believe and what our memory told us to.

Have it simple first. Try and see the result.