The Wall Street Journal on plans paper

Wall Street Journal

All over the world people are always making plans of either making more money, investing the hard earned money in profitable ventures, and for parents with young children many always think of saving for the good future of the kids. Thinking about the future is not a bad idea; the only problem is the method that some people use in achieving the goals. Even though man is not a perfect being some mistakes that most of people make is at times disastrous. There are people or organizations that may have very brilliant plans that can be very successful but no follow up is done to make sure that they succeed.

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So as to understand the concept in saving, planning, and investing I had to look for articles that would bring out the connection. I had to look for journals that are connected to the topic in all business related journals. Eventually I settled on the Wall Street Journal as it has business-related articles from all over the world.

In one of the articles in the Wall Street Journal by Chuck Jaffe under the heading “Don’t let personal crisis go to waste” the writer gives his story about his health.He describes how he ended up having a blocked artery as a result of his “bad habits”. He instead chose the moment when he was being treated to see ways in which he will live healthy other than thinking about the condition he was at the moment. He elaborates how he deals with the situation the plans he makes, the challenges he faces and how he deals with them.

The writer goes ahead and relate health problems with finances, in the article he says “There is a personal finance angle to all of this, because saving, budgeting and investing properly are remarkably similar to diet, exercise and eating right. Just as many people have trouble with a diet, so do they have issues living on a budget, spending within their means, and saving properly”, in the explanation he points out that just as many people have problems with diet and exercise so do people have problems with personal finances.

Follow Up

In the hospital bed , the writer was able to come up with a three-year plan on how to restore his health, just like many people, when faced with financial crisis people always make plans on how to solve the problem. He further states that plans without proper follow up is fruitless which I totally agree with.The argument that I don’t find convincing is when he states that there is always room to make mistakes, financial mistakes do have serious consequences and any mistake might have a very huge impact. Many people always have very good plans to help them solve financial problems such as investments, and saving. People save for various reasons some save for their children’s education, some save to buy things such as houses or even cars. There are some who still save to go on holiday. Whichever the reason for saving is a plan must be put in place so that one can ascertain the amount to save and the duration and even the interval. Some may require regular saving, while others annually. Some reasons for saving such as holiday may require a short duration and the plan might come to an end once the holiday is complete, others like a child’s education might take several years until the child is through with education. It should, however, be noted that many people do always come up with very good ideas on how to save or invest when faced with a crisis, on the other hand while the problem is over the plan is shelved. There are some other people who however initiate the plans but do not make any follow up to ascertain whether the ideas are working or not.There are still some other people or organizations that might have excellent plans that might solve the problems facing them but are too afraid of implementing the plans as they are not sure of the success. In such a scenario the organization or the person may continue to wallow in problems, this is because they are afraid of trying new ideas.

Setbacks

The writer notes that every plan might have a set back but it should not be a barrier in achieving the desired goals. Dealing with the setbacks in the right manner and with positive attitude one might eventuallysucceed. The writer tries to bring out the fact that even the right plans will always have difficulties and when faced with such challenges one need to rise up and take the problems head on instead of feeling sorry for their condition. Most people when faced with set backs in implementing a plan tend to look at it as another failure instead of looking at them as challenges.Just as the writer some problems might be life threatening but when dealt with in the right way they can be easily be dealt with.

Problems once dealt with do necessarily not mean that they might not arise in the future;they might recur over and over again when such incidences take place most people loose hope of ever solving the problem once and for good. Set backs should be viewed as the every day challenges that face people on a day to day life just like health problems. A person might suffer from a cold, go to a doctor and get treated months later the same person might suffer from a cold again months later. The doctor can not be blamed for not doing a splendored job, what can be done is prescription of another type of medication.

Conclusion

The article clearly brings out the connection between saving, planning, and investing. Financial issues have and still are a very significant issue to each and every person, thus making the best decision is very vital. However plans without follow up might not bear any fruits, in that respect it is important that every plan is backed up with action. Financial security for future generations is very vital; parents investing for the future of their children should look for the appropriate plan in order to avoid costly mistakes. The article is very vital to international business at it helps one make the best decisions. Life is full of challenges so is the financial world, every form of investment, and saving.At times some of the challenges faced when implementing a certain plan are meat tomake the plan more successful.

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