BORDADORA, Ma. Kristina Beatrice T.

OTGE3

The things that we want in life are oftentimes too out of reach or too much for our current
status in life. We tend to dream too much and oftentimes be disappointed when we do not reach
the things that we want to buy or own. It is important to keep our financial goals realistic so as to
not reach for the stars when we want to buy certain things that may not be part of our needs, but
only on our wants. The reason for this is because having goals and planning the right way for us
to reach them is a major factor of having a successful financial plan. It is imperative that we are
able to distinguish what our aspirations are from our fantasies. These are not only regarding the
things that we want to buy, but also include our future life, may it be when we start to work,
continue to pursue further education, start having a family and many more.
With this being said, our life aspirations should always be anchored on our financial
goals mainly because in every thing that we do, we must make sure that it is perfectly managed
and budgeted as we do not know what may happen in our lives. In addition, we must have a
budget as a way to see which of our money would be going straightly to the bills that we are
paying, the things that we want to buy, and for the extras that we may be using for our own
personal needs and expenses. We must also make sure that we record our spending every time
we get our salaries as a way to know whether we are overspending or not. Lastly, we must
anticipate future bills that we may be needing to save up on to make sure that we do not find
ourselves in a predicament when we are not able to pay for such bills. Being able to plan our
everyday finances would allow us to make decisions that would able to help us achieve our
goals in our life, and if we continue to just spend money without worrying about the future that
would just continue to lead us to a life wherein we are not able to spend money wisely and may
lead us to bankruptcy or other situations. Having short term and long term goals are also
included in this scenario because once we have a goal that we want to achieve we can better
allocate our resources and money in making sure that it is perfectly balanced to what we need
for the future and for our present days.
In summation, being financially literate would allow us to be smart and successful in
achieving our goals because we are able to balance and manage our money without sacrificing
what is needed to be saved to make sure that we are prepared for whatever calamity may come
in our lives such as emergencies. Perfectly planning out our goals and money would make sure
that we are able to financially save and spend on our money wisely.