There is that old saying, 'money does not buy happiness'. There are plenty of successful and wealthy people confirming this. However, when I worked as debt counsellor, i did observe that money does have some influence on our happiness. If our lives are unstable then it can result in our finances getting out of hand which can lead to further stress and worry. Whilst money doesn't necessarily buy us happiness, financial worries can affect family life and on the positive side of things can enable us to treat ourselves and family members which can lead to happy memories.
Being able to protect ourselves from financial worry should be a priority for all of us, even the young free and single. Basic financial planning makes the following priorities:
- Savings for when things go wrong.
- Protection when savings can't stretch that far and to help alleviate family stress.
- Investments for the nice things and future financial security - schooling, holidays, family needs.
- Pension for when we don't want to or are unable to work.