The world is full of uncertainties that sometimes, one can’t help but feel insecure about what the future holds. I myself keep on wondering about what tomorrow has in store for me. What happens if the stock market crashes like it did in the 1920s and I suddenly lose my job? What will happen to my family if I die a sudden death or be diagnosed with a critical disease? It is true that the future holds so many opportunities—promotions, a generous raise, a higher degree, marriage, and others. However, it, too, holds too many unfavorable circumstances—typhoons, terminal illness, job loss, and more. With the possibility of these adversities, perhaps the most important question that I should ask myself is, “Am I ready should these emergencies occur?”

In the first unit of this class, I learned the value of personal financial planning. When we plan and manage well our finances, we are able to achieve both our long-term and short-term goals. Planning our personal finances allows us to have peace of mind when it comes to matters of the future. It provides the opportunity for a worry-free retirement, an emergency fund, investments, insurance, and more, thus helping us prepare for the future.

Trent Hamm’s book is a very enjoyable, insightful, and inspiring piece to read. His line, “The hardest part of personal finance is just having the courage to take that first step” (Hamm 2) really struck me. For a long time, I had difficulty managing my finances simply because I kept on putting financial planning off until some other time. For a long time, I knew that I had to have a financial plan but I just did not have the courage to “take that first step”. After having read Hamm’s work, I realized that if I want to be able to do the things that I have wanted to do without drowning in debt, I have to start working towards my financial goals now—not tomorrow, not next week—but NOW.

For so long, I’ve always planned of getting a health insurance and investing in stocks while still being able to take annual trips, pay my debts, and provide for my daily needs. To some, this may sound too ambitious. But one thing I know for sure is that this is not impossible. I have heard numerous financial success stories and I believe that in time, with discipline and determination, I, too, will have my own success story to tell.

Now that I have laid out my financial goals, I have also identified some of the things that I need to do to meet these objectives. One of these is to save up on energy consumption by turning off appliances that are not in use. With this, I do not only save on my electric bill but I also contribute less greenhouse gas emissions. I should also minimize eating at fastfood restaurants and instead prepare a healthier meal at home, which is less expensive and healthier. Another habit that I should change is spending money just to de-stress. Sometimes, it is better to relax at home and listen to music than go to the mall to shop or stress-eat. These are just some of measures that I will have to adopt to achieve my goals. I may have to change many of my habits and make plenty of adjustments, but I am positive that I will be successful in this endeavor.

I am extremely pleased that I enrolled in a Personal Financial Planning course this semester. The first unit has helped me to embrace the importance of financial planning, identify my goals, and the habits that I need to change. More than that, this unit gave me the courage to finally take the first step to financial freedom.

Work Cited

Hamm, Trent. “Everything You Ever Really Needed to Know About Personal Finance on Just One Page.” The Simple Dollar.