The ability to concentrate and to use time well is everything.
- Lee Iococca You have heard it over and repeatedly "He who fails to plan plans to fail.
" Yet without fail most person are experiencing this fate because they simply refuse to plan.
In these challenging economic times there is no question that the key to developing real sustainable wealth comes only through using your money to prudently invest- in assets; in yourself; or a business.
But the questions are:

1. What are you doing about your personal wealth creation today?
2. What changes do you need to make to your lifestyle today that will allow you to enjoy the future you want?

Now would be a good time to sit down and take a look at how you have handle your finances and answer some very important questions that will allow you to review your efforts and make any needed adjustments.
Allowing you to continue doing what works and get rid of what's not working.
Because if you do not take control of your money, you will never become financially free, no matter how much money you earn.
The truth is you either control your money, or it will control you and to control your money, you must manage it and you cannot manage it without a plan.
So here are some questions to ask yourself:

1. What working best about your financial plans right now?
2. Is there something you know that is definitely NOT working?
3. What was your most positive result from your efforts?
4. Are there any new ideas you'd like to add to your plan?
5. Is your plan allowing you to accomplish both you long & short term savings goals?
6. Have there been any changes in your income or expenses?
7. Have you been able to reduce your debt since you last reviewed your plan?
8. Will the money (cash) be there to pay for your summer vacation, buy school clothes and school fees or Christmas presents?
9. Is there any way you can further cut your expenses?

These questions allows you to reflect on your progress to find what is working for you so that you won't waste valuable time on ineffective and useless practices.
To help you to keep going you must appreciate that your plan must be in writing.
If it's not then you won't be able to carry out the vital steps of reviewing and adjusting that's needed for you to achieve your goals.
Your written financial plan should be designed to cover your current and future needs and should also incorporate ways to reduce your debt.
So if you don't have a written plan you need to develop one now.
You may feel that you don't need a plan because you don't have enough money.
But the only way to solve your money problem is to have a financial plan.
Most people believe that earning and having more money would solve their problems but this is rarely the case.
As it is proven that once you do have more money you tend to spend more instead of applying the extra money to fixing any problems you are having with your finances.
That is why it is so important to have a plan that helps you manage your money.
Remember that "Nobody plans to fail, but they achieve the same result by failing to plan.
" If you aren't setting specific financial objectives and implementing a workable plan in writing then you are setting yourself up for disappointment.
Harvard Business School published a study on goal setting and found:

1. 83% of the group did not have clearly defined goals
2. 14% had goals but they were not in writing.
   
3. Only 3% of the group had goals committed in writing.
   

Some 30 years later they revisited the surveyed group and found that the 3% of persons with written goals had earned an astounding 10 times the amount of the 83% group that did not have clearly defined goals.

1. What's stopping you?
2. Are your financial goals in writing?
3. Do you have a step-by-step action plan that will lead to your financial success?

The truth is you are where you are today financially because of the plan you have been following.
And even if you think you don't have a plan, you have been following the "No-Plan" plan.
Here are nine essential thing that your financial plan should include:

1. Paying yourself first - Apart of all you earn should be yours to keep
2. A monthly spending plan - Helps you control your expenses
3. Investments - Helps your money to grow
4. Home ownership - You really can't enjoy life without your own home.
   
5. Retirement Funding - You need to provide now for when you're older and cannot work
6. Personal Development -You need to increase your ability to earn money!
7. Protection -You and your family need adequate and appropriate insurance.
   
8. Estate Planning (Wills & Trust) -You need to control your labour
9. Professional Help- getting your plan right may require getting some help.
   

By having a financial plan you will have a tool to help you stay on top of your finances and for measuring your progress to the future you want.
"Poor people stay poor because no matter how much money they earn they spend every penny!"