Why many don't many people have financial plan?

Even with the obvious benefits of financial plan, many do not have it. Although some might have tried to have it, they are dominated by implicit forces which they don’t understand. This is because most of the implicit forces involve emotion of people. Emotion is one of two ways information gets into our subconscious mind. Emotion is very difficult to control. The subconscious mind is the part of our mind that controls our behavior. The implicit forces which hold people back from having financial plan are:

(a) the lure of capitalism;

(b) influence of people around you;

(c ) luxirious lifestyle;

(d) lack of financial education;

(e) status-quo, and;

(f) over-sustaining grown-up children.


In my next posts, I will explain how each of these factors or forces affect financial planning.