| json_metadata | "{"app":"musing/1.1","appTags":["Life",""],"appCategory":"Life","appTitle":"What are the benefits of planning?","appBody":"<p>The obvious benefit of planning is structured and organised execution of tasks as well as the ability to track tasks in a timely manner. If you are given a task and have to reach an outcome, then you will think about how to implement it. Your mind will be flushed with ideas. However, if you start doing things as they come to your mind, you will not be following the optimum sequence of things. Moreover, while doing a certain thing, you may think of an improvement but you will not be able to focus on that idea, since your mind is distracted by whatever you're doing. Planning helps you collect all your thoughts, bring them to the drawing board, think about the benefits and disadvantages of various stages of the process you are establishing and also discuss the idea for a second opinion. This way, you can also figure out the all the steps and how to execute them sequentially or simultaneously. You spend extra time before starting the execution, but it helps you save time later, that you would have ended up wasting had you done things in a random manner. Additionally, you can track your activity as well. </p>\n<p>A simple example from life can be planning for home purchase. You know what the home costs today, and assume you want to buy it 10 years down the line. if you don't know how much to save each month, you will save random amounts, and may fall short of what you need. Instead, you plan. you figure out what the price of the home will be 10 years down the line, by adding inflation to today's house price. You know how much debt you wish to take, one that you can service given your pay today or 10 years from now. The you will know the equity you need to save up. You know your expenses, you know your income, and therefore you know what you save and how much your savings will grow by the time you need that equity to buy the house. it will be planned. you will also plan for the risks, by taking out the right health and life insurance so that you do not have to dip into your savings if there is a medical emergency. </p>","appDepth":2,"appParentPermlink":"pk7rkd4cw","appParentAuthor":"erikah","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
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