Many people find excuses to implement a financial plan early, as they think they are too young or don’t have adequate financial status to start one. But it is not true; actually planning earlier is the best way rather than much later. Financial Plan is a simple way that will help you to accomplish financial freedom and safeguard your future from undermined and determined problems. Undermined problems can be anything from accidents, conflicts, assets damage, etc and determined problems like business conflicts, retirement, investment, health issues and more. To deviate from this kind of problems you need to be financially stable and this can be achieved only with the financial plan.
Source: Creating a Financial Plan