A lot of what we do or don't do with our money in the present determines a lot of what we would be able to do or not do in the future.Therefore as we constantly seek to achieve that perfect financial health a good plan towards the same should be able to take care of how we spend our money,how  good we can take care of emergencies and our preparedness for our sunset years.This therefore calls for great consideration to be given to spending plans,Financial Emergency plans and Retirement plans.A brief elaboration of each follows :-

                          SPENDING PLAN

Also Known as a budget,a spending plan has over the years become a simple yet effective way of getting a firm grip on how and on what we use money.In fact most money woes that ail people begin with the lack of a budget and end with the adoption of one.The good thing,as stated earlier,is that a budget is one very simple tool.Simple as determining exactly how much income you generate and what your expenses-both variable and fixed-amount to monthly then making adjustments .Also,having financial goals,whether short term or long term,should really help smooth up your budgeting process.For instance,when cutting down on the variable expenses during budgeting,clear financial goals  provide good guidance on where that money freed up should go.Always Plan for your Money then plan your money.

Benefits: Helps you gain control over your money,keeps you on track to live within your means and Keeps you focused in achieving your financial goals.

                          EMERGENCY PLAN

You can't really Know what in-eventualities you'll have to deal with in the future but a good plan in place in case of any can guarantee you a peace of mind.Since most emergencies would require you to part with money in a very short unexpected period of time,part of what you earn should go to setting up an emergency fund.Financial Experts have never agreed on how much an emergency fund should really be but the general consensus has always been operating with one is far more advisable.Personally,I recommend saving up 15% of what you earn monthly in the first year that you set up your fund then 10% in the second year.Doing this in an alternation basis for four years will have you save up six months equivalent of your monthly income.A good way to enhance your saving discipline would be treating deductions towards your emergency fund as a fixed expense in your budget.

Benefits: Helps you avoid Debt when faced with an emergency and equally important gives you peace of mind during an emergency.

                        RETIREMENT PLAN

Few of us ever take the time to think about retirement but if we were to give it some thought we'd realize old age comes with a lot of  'money needy'  situations that  definitely require a formidable plan that should be able to see us through the period.This is where the retirement plan comes in.

A retirement plan is simply a savings plan that provides you with income in the form of benefits through your retirement.Those employed in organized institutions have occupational retirement benefit schemes that they can take advantage of while the Retirement Benefits Authority also licenses over fifteen individual retirement benefit schemes by respected financial institutions that individuals who are self employed can take advantage of.

Benefits: Some of the advantages of  being part of a licensed retirement plan is that you get to benefit from the professionalism that comes with it,higher returns from re-investment funds and some of the tax exemptions extended to members of registered schemes.