What are 2 advantages of having a personal financial plan?
A personal financial plan allows you to have (1) a more secure financial future and (2) a more organized way to manage your current spending.
There is one important component that must be present in a financial plan - investment. Investing allows you to build a credible and healthy finance portfolio because of the two important reasons:
Investing beats out inflationInvesting allows you to earn more (than just saving in a bank) because of compound interest.
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