It’s been said that failing to plan is planning to fail — especially with respect to personal finances. And although you may be prepared, one of the biggest mistakes any household CEO can make is to abandon their financial plan during extended periods of good or bad fortune. Why? Because, for those who lack the discipline to stay the course, raw emotion may erroneously trump the sound reasoning that was previously used to build their strategic plan.
The bottom line: Having a plan is one thing — but unless you stick to it, you may as well have no plan at all.
Photo Credit: Christopher Michel