Why do you elude me when I need you the most? Is it because I spend more than I save? Or is it because I have champagne taste but a beer pocket? Maybe I can just use the economy as my scapegoat?

You probably have an array of reasons why you or your business is cash poor. Maybe you spend too much, make too little, went through a rough patch, or simply don’t know how to say no.

What it probably boils down to, though, is poor (or no) financial planning. Good financial planning will help you succeed and potentially live a good life. The question remains, can you live a great life without money? Perhaps, if you’re deserted on island and no one exists, but let’s get real; you need it to survive and thrive more often than not.

As of late, everyone seems to talk about money (or the lack of it), and this shouldn’t be the sole objective of our lives. However, at the end of the day, everything we do involves money (most of our life is dedicated to get it). So if you want to survive in today’s world, you must plan for your (or your business’s) future. Never live day-to-day thinking tomorrow is going to be okay, always plan for the worst. When worst actually hits, it will be a minor bump in the road. Having financial freedom will help your stress levels decrease and can put your mind at ease. Recessions are looming and scary, but a love for economics has shown me that on average the pain lasts eleven months. So with an emergency fund and a good financial plan, you can still insulate yourself better than an attic!

Here’s a favorite resource to get you started.

Now go make some paper and save some if it, too!

-SM