When you don’t plan ahead, your life and finances suffer

Here are eight points of pain that people might experience due to a lack of planning ...

Change is hard, and often, the first step toward this is the hardest. Such was the case with my friend, Paul.

Paul prided himself on not setting goals or planning ahead. “Life is too short to box yourself in,” he used to quip. “I prefer to take it as it comes and be surprised.”

About three years after he shared this with me, Paul reached out to let me know his spouse was divorcing him. “She said she was tired of always guessing in our relationship, that I was reactive, and that I wasn’t interested in figuring out how to make things work. I thought I was rather free-spirited – but she called it disorganized and chaotic.”

This wasn’t the only trouble Paul was encountering. He was a business owner who had always prided himself on his ability to make money. Sadly, he had not planned for contingencies or for retirement. And shortly after his wife left him, he was diagnosed with cancer.

At one of his lowest points, he turned to me and said, “You know, it just didn’t sound fun to plan. But it certainly isn’t fun, now. Truthfully, even though change is tough, things could have been different if I had just taken that ‘first step.’ ”

My point? Life is difficult. Taking a cavalier attitude by not planning can invite a variety of unnecessary challenges and negative outcomes across different areas of life.

Here are eight points of pain that people might experience due to a lack of planning:

— Increased stress: Without planning, individuals often face unexpected situations and last-minute scrambles to meet deadlines or fulfill commitments, leading to high stress levels. Take a personal stress inventory by asking yourself where and when you experience high levels of stress. Then, ask yourself what steps you need to take to remedy those stress-inducers.

— Poor financial health: A lack of financial planning can result in insufficient savings, unmanaged debt, and inadequate preparation for emergencies, significantly impacting one’s financial stability and future. This is what happened to Paul – don’t let it happen to you. Find a certified financial professional for help.

— Missed opportunities: Failing to plan often means missing out on opportunities, whether it’s career advancements, educational possibilities, or investment options, as individuals may not be prepared to take advantage of them when they arise. If this strikes a chord with you, take a first step toward what you want.

— Lower productivity: Without a clear plan, both individuals and teams at work can become inefficient. They might spend more time figuring out what to do next rather than executing tasks, leading to lower productivity. In fact, just by creating an actionable plan for your next team or family project, the clarity in roles and responsibilities can increase productivity by 30-40%.

— Relationship strain: In both personal and professional relationships, a lack of planning can lead to misunderstandings, unmet expectations, and conflicts, straining or even severing relationships. Again, we see this in the situation with my friend Paul. Sometimes this area of planning can be more subtle. For example, do you struggle with being on time to appointments? Are you challenged with following through on things promised? These behaviors send big messages and unless changed, culminate in a loss of trust and relationship.

— Compromised health: Neglecting to plan for regular health check-ups, exercise, and a balanced diet can lead to poor health outcomes over time, including chronic illnesses and reduced mental health. What health procedure have you been pushing back? What is avoiding this potentially costing you?

— Decreased quality of life: Without plans, life can become a series of reactive decisions rather than proactive choices, leading to a less fulfilling and more chaotic life experience. Do you know where you are going in life? What do you want your future to look like? How do you make decisions for your life? Decide to be intentional and reach out for help, if need be.

— Career stagnation: Individuals who do not set career goals and plan their professional development may find themselves stuck in the same position without advancement, facing stagnation and dissatisfaction. If you are wondering why you haven’t been promoted, do you know what is required? Have you been working on this? Have you had the conversations with your boss to understand what skills and talents you need to bring to the table – and are you working on these?

Planning (or the lack thereof) has a significant impact on all aspects of your life. Don’t be like Paul. Instead, ask yourself where you would like to be and what you would like your life to look like. Then, create a plan to get there – and take that first step.

Patti Cotton is an executive coach to CEOs, business owners, and their teams to help manage complexity and change. You may contact her at Patti@PattiCotton.com.