While this module should be considered only after a solid foundation has been laid (with risk management, debt repayment, and cash flow) there are reasons to consider these planning programs on their own accord.

Short term savings when looking to achieve short term goals can help keep someone from going into debt while navigating their financial journey.  Taking a trip, buying a car, saving for a child’s education, can be achieved through appropriate planning to reduce or eliminate losing money unnecessarily.

Long term savings are more ‘permanent’ in nature but also require proper planning to be achieved as effectively as possible.  Waiting until later to plan for things like retirement can make achieving success more difficult.