Micro Finance – The Way To Plan Your Finances

March 27th, 2017 | by Ryan
Micro Finance – The Way To Plan Your Finances

Planning is a quintessential part of life, everything that you do need planning, whether it is as trivial as your diet or as serious as your number of children. Without planning you are nothing, your life will cease to have any direction without planning. Your finances are a major part of your life and one of the most important things that you need to plan, because that forms the basis of everything else in your life.

Without money you will definitely not be able to survive and hence planning you finances become a mandatory thing. The better you plan your finances the more relaxed you are and able to provide for your family and yourself all the basic necessities of life as well as some luxury. Financial planning does not understand any class, hence just as the rich have their financial plans so do the poor too need to do, even though their finances might be very limited.

Micro Finance – The Way To Plan Your Finances

The needy and unfortunate people are hence being helped by the Joe Johnson Mercy Foundation of Tampa, Florida, to come out of their disastrous situation. The down trodden are being uplifted with the provision of micro finance that this non-profit organization is making available to them. The Mercy Foundation believes in empowering the unfortunate and underprivileged which is why they give out small loans to the budding business entrepreneurs of the lower classes, who are denied any kind of financial assistance by the traditional institutions.

The system of micro finance encompasses the giving out of small loans that the borrower uses as capital to begin a business or expand an already existing business that they might be having. Once the business is all set and rolling the borrower is then required to return the loan little by little. This helps in maintaining their self respect as they do not feel that they have set up their business at the mercy of someone else. They become self sufficient business entrepreneurs and repay the loan amount, while at the same time learn how to save money for themselves.

This system helps change the life style of the weaker people and makes them stronger in every sense of the word. Having to repay the loan in small installments, the borrower becomes aware of the need to plan his finances so that he is able to repay. This proves, that having a proper financial plan helps in you in:

  1. Developing a practical framework for the successful running of the business.
  2. To be able to achieve the goals like repaying the loan as fast as possible
  3. To ensure financial stability and
  4. To be ready to meet any unforeseen challenge or risk that may come up in the future.

Thus, in a way the Joe Johnson Mercy Foundation has become a ‘Messiah’ to the destitute and needy people of the society. They are untiringly working towards this kind of upliftment of the poor in several parts of the world which includes Asia, Africa as well as Latin America.