Finally, as your business begins to function as a proper organization within the market and competes with other firms, it is time to be smart. This phase doesn’t need substantial resources but intelligence and wits. You have to be rational and calculative in every decision that you take as during this phase, you must work in such a manner that your strategies aim towards growth. For instance, there might be several options from which you can choose the right one. You might have the opportunity of choosing between profits and growth. In this case, it is better to prefer growth over profits.

You must create strategies which ensure long-term growth. If you create such type of strategies, you will be able to maintain the firm competitive in the market. You might have competitors in the market and in order to leave them behind, these strategies are important. Being strategic means that you must not take risks which can threaten the presence of your firm or its sales. Although you should task risks, your approach should be calculative and risks must be as minimum as possible.

Giving a Better Life to Children of Financial Planning and Stories from Inspiring Women

Once a woman is married, she has only some specific precious people. Some of the most precious people include her family, husband, and her children. Actually, some might even say that once a woman leaves her house and marries, her husband and her children become her most important people.

However, you should always remember that before your children and husband, you have some responsibilities that you have to fulfill to your parents.

Just as explained in previous chapters, family offers a safe haven for you. There wait for you when there is no one else waiting for you. In fact, they are rooting for you all the time. That is why, your utmost responsibility is to satisfy and make your parents happy. Then, you have to look after your siblings.

After these responsibilities have been fulfilled, you must take care of your husband. Well, in this case, I am talking about helping your husband in managing budget. As a working woman, you can support your spouse if he is having a difficult time in making the ends meet. After all, managing a family can be difficult.

Your husband comes after your family and if you are working, your responsibility is to assist him. Believe me, it might sound difficult at first but it is not at all. You will need to make a new plan about your own budget and begin aiding your husband. After your husband, you have a responsibility to your children. It is indeed true that a woman is most emotionally attached to her children.

The feelings that children give to us are more than just precious. They are invaluable.

Just looking at the faces of smiling children makes us happy. After all, they are also a part of us. If they are happy then we are happy. If they are not smiling then we are also worried and we cannot shake that feeling of nagging behind. Whenever something happens to our children, we are unable to rest until we know that our children are fine.

That is what we call motherhood. It is the attachment of a mother’s heart to the hearts of her children. Her heart beats with her children and it breaks when she sees them sad. Although having children is a blessing, just raising them doesn’t count as fulfilling our responsibility to them. More specifically, they expect and deserve some things from their parents.

Some of the most important things include a happy, educated, and innovative life.

Offering these things is not easy at all. In fact, some are unable to fulfill their responsibilities to their children. Why?

Well, they are not prepared for it. Have you thought what your children might say to you in the future if you don’t fulfill your responsibilities and don’t provide these facilities to them? As teenagers, we had always desired a life when we wouldn’t have to struggle and work the whole week to pay our fees. Most of us didn’t have a financial support on the basis of which we could study without working. Students who are unable to study don’t have a fruitful future in this world and those who work to acquire knowledge face numerous difficulties. It is not even possible to count these hurdles.

One of the most common hurdles when you are working and study both at the same time is meet the expectations. As a student, you are expected to complete all tasks and projects while as an employee, you are expected to attain the goals. However, completing both of these tasks is not easy at all. One has to forget about his wellbeing in order to meet the ends.

Do you want your children to live the same life?

Of course, no. Who wants their children to work the whole week and struggle to both study and work? In order to ensure that the situation never gets this bad, you have to plan and invest in your children. One of the best things to do is to prepare a financial plan that you intend to follow before you begin a family. If you already have children, no worries because you can just help them now. However, those who don’t have children as of now, you should ensure that you are capable of financially backing up your children before having starting a family.

Following are some of the ways through which you can invest effectively in your children:

Making a Financial Plan

The very first step in giving a better life to your children is to create a financial plan. It will be the road on which you will be traveling until your off springs are old enough to finally utilize the amount of money that you have saved for them.

Similar to how every big step need planning, providing a financial backup to your children also requires a plan. It doesn’t matter that you already have children. You can just make a plan and begin to follow. However, it will be more effective if you are still a few years away from starting a family. Why?

An advantage of a few years allow you to not only change your plan but also prepare better for the future of your children. For instance, if you are still working, you can suppose the amount of money that will be necessary for your children to groom into good people and manage your budget according to it. Take some time and if you are married, it is better if you consult your husband as well in making the plan. You can ask him about the steps that you should take to plan for your children.

But if you are not married, you can just ask your parents. They will also help you in choosing the right steps.

An example of a financial plan is below:

Current Position: Working at an IT organization and expected to be promoted soon. The chances of leaving the position are slim.

Budget: Salary is $100,000 annually and on a monthly basis, $1,000 are saved. Savings can be increased if food from outside is not purchased. Even if I continue to support parents, I will be able to save this much in a month.

Future Planning: For the next five years, I will not be marrying or changing jobs, which means I can continue to save $1,000 and more for the years to come. In addition to it, I will save this amount in a bank account and will not take a policy or participate in a program.

This is just a rough draft of what you can make. Normally, you have to include other expenses and calculate every statistical figure in your financial plan as well. You can make a financial plan as comprehensive and as short as possible. It is up to you to choose which one works better for you.