Plan your finances securely starting today, not waiting for tomorrow.

Have you ever wondered where all your salary goes? Why is there never anything left to save at the end of the month? And when you retire tomorrow, will you have enough money to live on?

If these questions resonate with you, it means you need to plan your finances urgently. Because saving without a plan is like letting your money flow away aimlessly, while a systematic plan will help you build a secure future.

Why do most people miss out on financial goal planning?

Many misunderstand that financial planning is only for the wealthy or only for old people. In reality, it’s a skill everyone should have, from working age to even students.

Imagine life as a journey. You need to know:

• Where are you now?
• Where do you want to go?
• How will you get there?

Without a plan, the journey becomes just wandering aimlessly.

7 warning signs why you should start planning today

1. Longer lifespan, but retirement funds are insufficient

Statistics show that only 25% of people retire with enough money, while 75% still struggle with finances after their working years.

Calculate simply:

• Retirement age: 60 years
• Monthly expenses: 30,000 THB
• Life expectancy: up to 80 years
• Total amount needed: 30,000 × 12 × 20 = 7,200,000 THB

The question is: Do you have a plan to save this amount today?

2. Social debt changes; many have no children these days

In the past, children were the “support” for retirement. Now, grown children must support themselves first; no one can fully support parents.

Statistics show that 55.8% of the elderly rely on others. Will you rely on yourself?

3. Inflation erodes your money

How much did a plate of rice cost 20 years ago? A bowl of noodles was 5 THB, now it’s 50 THB.

If in 30 years essential goods become 2-3 times more expensive, you will need more than 1.5 times the amount you’ve calculated.

4. State welfare will face a crisis

In 15 years, the elderly will make up 1 in 5 Thais. But one working person will have to support 3 elderly people instead of 6.

Monthly allowance of 600 THB and social security of 3,000 THB is that enough?

5. Financial products are becoming more complex

In the past, bank deposits gave decent returns, but now the lowest interest rates are just 1-2%.

726 stocks, 1,537 mutual funds, plus insurance, life insurance, savings accounts.

Which do you choose? You need a plan first.

6. Save first, spend later = get rich quickly

Look at this example:

Why choose to be flexible?

7. Insurance helps cushion uncertainties

COVID-19 caused many to lose jobs. Day 1, they’re fine; Day 2, no income. Expenses still remain.

Having 3-6 months emergency fund + life and health insurance gives you protection.

Steps to plan financial goals successfully

Step 1: Set clear life and financial goals

If you don’t know what you’re saving for, your savings will drift aimlessly.

Try writing down your financial goals:

• Want to buy a house costing how many million? Which year?
• Planning to get married? How much will it cost?
• Planning for retirement? At what age?
• Need an emergency fund or invest in stocks/funds?

Important: Don’t forget to plan for retirement, taxes, and insurance, which many overlook.

Step 2: Record daily income and expenses

90% of young working people say, “Month to month, I come and go, nothing left to save.”

Start tracking daily expenses to see where your money goes:

• Necessary expenses
• Luxuries
• Total spent this month

Doing this for 7 days will form a habit.

Step 3: Check your financial health

You regularly get physical health check-ups, but have you checked your financial health?

Create your own (Balance Sheet):

Assets:

• Bank savings
• Investments
• House, car value
• Valuables

Minus total liabilities:

• Mortgage, car loans
• Credit cards
• Other debts

= True net worth

The more positive, the better.

Step 4: Prepare an emergency fund of 3-6 months

If you lose your job tomorrow, get sick, or face a major event, where will the money come from?

Emergency fund should be in:

• A safe (bank or money market fund)
• Withdrawable immediately when needed
• Low risk

At this stage, do not invest this money in stocks or risky assets.

Step 5: Understand your risk profile and protect yourself

Many people insure their house and car but forget about insuring themselves.

If:

• The family breadwinner falls ill, the household collapses
• Serious illness requiring 1 million THB treatment, is that enough?
• You lose your job, children still need to go to school

Life and health insurance are as essential as food.

Step 6: Save before spending, not wait for the end of the month

Change your mindset:

• Old: Income - Expenses = Savings (Initially, spend first, debts remain)
• New: Income - Savings = Expenses (Discipline yourself, no escape)

Save at least 10% of your income. If you save more than 15-20%, your life will be more resilient.

Step 7: Good debt should not exceed 45% of income

Many, after starting work, want a house, car, brand-name items, accumulating debt.

Calculation principle:

• Income: 20,000 THB
• Affordable debt: no more than 45% = 9,000 THB
• Remaining for expenses: 11,000 THB

If debt exceeds 45%, life will be stressful.

Step 8: Find additional income sources

In the past, people had only one income stream. Now, one is not enough.

During economic crises, having multiple income streams often helps survive. Many with only one income struggle with debt.

If you have skills, hobbies, or talents, consider earning extra:

• Freelance online work
• Selling online
• Tutoring
• Saving coins for emergencies

Step 9: Make money work through systematic investing

Once you have enough savings, let your money generate additional income.

Basic investment methods:

Choose according to your knowledge and risk tolerance.

Step 10: Invest in yourself

Before earning, earning, if you lack basic knowledge, you might invest wrongly.

Free learning methods:

• SET Education YouTube channel
• Financial podcasts
• Company blogs and articles on investing
• Books about investing

Spend 1-3 hours weekly studying; it’s enough.

Summary of the systematic planning process

If you know many things but don’t act, it takes time to truly understand. Try following this sequence:

Weeks 1-2: Track income and expenses, create a financial statement Months 1-2: Set financial goals, prepare emergency fund, buy life insurance Months 3-6: Increase income, save more, reduce debts if any Year 1: From all the above preparations, start investing in stocks, funds, or other assets

Remember: Wealthy people are not born rich; they just make plans and follow them consistently.

If you haven’t started today, consider that “today” is the best day. Start now!