Benefits about having personal finance

The benefits of personal finance include an ability to effectively budget for costs, higher savings rates for retirement, and making prudent investment choices that will help the individual reach his or her financial goals.

1. It will help you get out of debt

2. It gives you a piece of mind, which is being more smarter than you already are

3. It would help you develop a abundance mindset

4. When you plan with a purpose and manage your money effectively, you will actually have REAL money, if that makes sense

5. You will have higher savings rates for retirement

Explanation:

In my opinion, there are no disadvantages of financial planning.  When you give every dollar a purpose and a mission, your attitude towards money will change and you’ll find yourself becoming more intentional with your decisions.

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