Two of the main purposes of a financial plan are to provide direction and meaning to financial decision-making and to clarify and connect all parts of a person’s life programme.
Students fit into the pre-career or foundation phase of the financial life cycle, one of the main objectives being effective money management.
If most students are not at the stage at which they are earning income, why should they learn about financial planning and, in particular, the management of financial resources on which this column will focus?
A good reason is that financial planning contributes to the creation of financially literate individuals who:
• are knowledgeable, educated, and informed on the issues of managing financial resources;
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