The general reaction in most people to the words “financial planning” usually ranges between a combination of eyes glazing over and complete confusion as to where to start. Many are living week to week and as long as the bills get paid, life rolls on.
If you feel that you may be in this situation and you know you should be doing more than what you are to take control of your finances but don’t know where to start, I have two simple tips for you. Before we get to them, if you are thinking that you have such a tight budget that this advice doesn’t apply to you, please read on, as this especially applies to you.
Firstly, it’s the start of a new financial year. Financial years run July 1 to June 30 each year. Why not put a reoccurring appointment in your phone calendar to set some financial goals each year. No matter how simple they are, any goal will be better than none. It may be to eliminate your credit card debt, it may be to save for something that you really want, it may be to make sure you are getting the best rates on your home loan. Just do it once a year as a minimum. But how do you implement these goals? Read on.
The second piece of advice is to go and buy a roadmap to your financial success. This roadmap is a very easy to read book that I think is the best financial planning (don’t glaze over!) book you will ever read. I have given it to any staff member who wanted one and the reaction has been amazing. The book is called “The Barefoot Investor” by Scott Pape. Scott has changed thousands of lives through his practical advice. Many follow his newspaper column but he also has a large online community that he communicates with on a weekly basis via email and Facebook. He is about saving you money, as much as investing it. I highly recommend it, it will be the best $29.95 you will ever spend.
To give you a further incentive, as I truly believe that it will change your life, if you cut out this article and take it into Great Escape Books in Aireys Inlet (my wife Nicole runs this business) they will give you a 15% discount. So this doesn’t look like a blatant promotion for our bookshop, if you are really struggling to the point of not being able to afford to buy one, please contact me and I will be happy to buy one for you.
You have now run out of excuses to take control of your financial future. Just do it, it will make you feel amazing.