Success FINANCE
6
Decide Where You’re Going
Everyone knows using a map and a GPS are invaluable tools when travelling to a new destination. They can save us time, money and pure frustration. Achieving our ďŹ nancial goals is no different. A simple recipe is needed: s $ECIDE WHAT YOU WANT TO ACHIEVE s $ETERMINE YOUR TIME FRAME s 3URROUND YOURSELF WITH PEOPLE WHO WILL GIVE you sensible pertinent advice. This seems like common sense but, unfortunately, as the saying goes: common sense isn’t that common! Ultimately you have to decide what you want from your money. Then you have to commit to making the coin work for you. This involves developing an awareness of your money personality, how your mind works and then changing the frequencies. There’s a huge connection between your personality, feelings, mind workings and behaviours. Money Secrets 101 shows you how you can manage yourself in order to manage your money and your ďŹ nancial future and, on the basis you’re intending to have a future, you may as well make it the best you can.
7
Achieve Your Money Goals Quicker
If you’re determined to achieve your money goals, you should be exceptionally mindful of gaining control of your coin. These tips will help you do just that: s ,IVE BELOW THE LINE 4RULY ASK YOURSELF IF what you’re spending money on is satisfying a need or a want. Most things, by the way, fall into the ‘want’ category. s !VOID THE PLASTIC )T S NOT THAT FANTASTIC WHEN the credit card bill arrives at the end of the month and you have to repay the debt. s !VOID THE LIFESTYLE CREEP *UST BECAUSE YOU VE got a raise and are earning more than you’ve ever earned, doesn’t mean you have to splurge on new gadgets or acquire expensive toys. Afuence isn’t cool. s 7ATCH THE @FRIENDS EFFECT /CCASIONALLY paying for someone is a nice gesture, but when you’re paying more than your fair share for girlfriends and men, wise up. You aren’t a bank and shouldn’t be treated like one.
Remember, the best way to predict your financial future is to create it yourself. Get moving.
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8
Avoiding the Clash Over the Cash
If you’re single you can do what you like with your money. You have no one to answer to or work in with. Plusses and minuses abound. If you’re a couple, you’re in a different boat. Ask any couple what they argue about and they’ll tell you kids, sex and money. I’m taking the Fifth Amendment on the ďŹ rst and second of these topics, but I’ll give you some pointers about the third.
Arguing with a nearest and dearest over money is rarely productive. It leads to lots of stress and relationship break-ups. It can even create secretive behaviour. Studies have shown ďŹ nancial inďŹ delity is far more rampant than sexual inďŹ delity. To avoid the clashes, try this: s !CKNOWLEDGE IT S PRETTY NORMAL TO HAVE different ideas about money. After all, we have different money personalities. s #HOOSE YOUR TIME TO HAVE A CALM DISCUSSION where you at least try to agree on money goals. s "E HONEST AND UPFRONT WITH YOUR PARTNER about the gold, and require the same in return. s 7ORK OUT HOW YOU WANT TO DEAL WITH MONEY as individuals and as a couple. Try out one of the money systems for couples I’ve mentioned in Money Secrets 101. s 7ORK OUT YOUR MONEY ROLES )F ONE OF you is going to pay all the bills, ensure the other is involved by communicating what is happening and when. That way you’ll both have a joint appreciation of where the dollars are going and the stress of managing isn’t put all on one partner’s shoulders.
9
No One Will Care As Much About Your Money As You Should
Regardless of your relationship status, know the truth in this heading. Once you understand the truth, you’ll appreciate the need to take responsibility for each ďŹ nancial decision you make rather than letting other people make choices for you – that’s plain donkey dumb. Self-responsibility is key to ďŹ scal empowerment. Here are four rules to live by: 1. Ask questions about what you are being/ have been charged. People make mistakes when billing customers. Even if an error hasn’t occurred, the answers to your questions could help you make cost-cutting decisions. 2. Meticulously check all accounts, invoices and receipts to establish they are correct. It’s
amazing how many mistakes occur that go unnoticed and cost you your hard-earned dollars. Likewise, fraud is easier to detect if you have your eyes wide open. 3. If you’re tired or feeling pressured, never ever make a ďŹ nancial decision. Generally, decision making is impaired when you’re in this state, leading to poor money outcomes. 4. Listen to your gut. This has permitted human beings to evolve and survive the ages. If in doubt, get a second opinion. Getting to grips with our money situation, achieving our ďŹ nancial goals and enjoying a life of relative ďŹ nancial stability and freedom is not something that happens overnight. It is however a possible state to attain providing we are willing to gather information, make informed decisions and practice smart ďŹ nancial behaviours. For most of us, it’s an excursion. The sooner we start our personal journey, the quicker we’ll ďŹ nish and arrive in that stress free place known as â€˜ďŹ nancial comfortability’.