Financial Archives - Page 7 of 14

Inflate Or Pay?

Posted on November 1, 2022

Many observers of governments and markets thought the governments of the world would let their new debts inflate away. The idea being that as everything inflated, the debt would become relatively smaller and therefore more manageable.

However, it looks more like some governments and/or central banks will try to ensure people will pay back all the debts that they didn’t ask to be created. And to do so may involve everyone working at two or three jobs to raise the money, pay the extra tax and pay off the debts.

If you haven’t thought about how the next 1, 2, 3 or even 5 years are about to play out, you had better consider some of the options for our future. Listen to a few doomsayers and optimists for contrast. Then get yourself set up in November because March may be too late.

Action Financial Reframe your thoughts

Asking For Payment

Posted on October 31, 2022

It’s important to pay for products and services we buy. We agree a price, use the product or service and then pay for it.

Equally, when we provide the product or service, we should be confident and ask for the sale or payment. We should ask with the expectation of prompt payment just as we would pay promptly if we were on they other side of the trade.

We would feel like a thief if we did not pay for something we acquired. Just as we would feel like we had something stolen from us if we delivered and we’re not paid.

Sometimes people forget to pay. So we must remind them. For their sake, and our own. And do it right away. It can get embarrassing if we have to chase someone down the street for payment. It’s awkward on both sides. Don’t let that happen.

Most people are honest and willing to pay. When you don’t remind them to pay, they could feel like a lesser person when they do remember. Make sure you give them every opportunity to feel good about buying, and paying for, your product or service, by asking for payment.

Action Financial Progress Property Think About It

Wake Up!

Posted on October 30, 2022

Are you financially fit? Are you hoping, dreaming, avoiding or planning, when it comes to your financial future?

You’ll probably end up broke if you hope, dream or avoid. And if you plan, have you stress tested it with challenges and been accurate with your current, realistic course?

You can do more than you think, so start imagining and planning. Yes you need effort and sometimes it will be hard, uncomfortable or even frustrating. But it’s better to have those challenges in your 20’s to 50’s than your 60’s and up.

It can feel hard, uncertain and confusing to get started organising your finances. But if you don’t, you could end up broke or in an undesirable (non) retirement situation.

Yet, if you start now, you can take control of your future, learn some basics and have a wonderful retirement, while still passing on a solid inheritance to the kids or your favourite charity.

Start today! It’s time to wake up! Do it yourself or get in touch and I can give you some pointers. Regardless, pay attention and set up your life to win! I’m cheering for you. ✅

Action Financial Think About It Time

Risk On, Risk Off.

Posted on October 13, 2022

Being financially aware is one important aspect of life. Like it or not, money is critical to your everyday life. Try getting through a week without buying anything or using anything you have bought. No transport. No food. And no clothes.

You can’t even do a zoom call for work. It wouldn’t be right using the electricity, even if it’s just a little amount. Because it all needs to be paid for with money.

So call your mortgage broker and your financial advisor and assess these higher rates and what you can do about them today. Play out some scenarios. Pay an early repayment charge if it makes financial sense so you can lock into a lower rate today, rather than a 3% higher rate next May.

Unless something breaks and threatens to pull down the entire financial system, we may be looking at a 5% base rate for 5 years or more.

Learn about finances for the next three months. What you learn may save you £75,000 over the next 5 years. Isn’t that worth spending 5 hours on this weekend?

Financial Health & Fitness Progress Think About It Time

In 20 Years

Posted on October 9, 2022

What do you want your life to be like? Where do you want to be? Physically? Financially? Relationships? Work? Career? Hobbies? Family? Health? Fitness?

Take your current age and add 20 years. If you’re 43, add 20 and visualise your life at 63. List out what your life is like. Write it down. Note the clothes you’re wearing, your fitness, how relaxed you are, where you live (sea, mountain, warm, cool), how you spend your days and how delighted you are with life.

Think about your future. Visualise the dream. Add in all the detail. Make it very real and clear to see, not just the idle, transitory thought.

If you want that life in 20 years, what will you need to adjust to get there? Save and invest more of your income? Change some habits? Learn to delegate better and feel good about it? Outsource?

Make these changes now and work on the changes through till Christmas. Then sacrifice and discipline into 2023 so that by the end of that year, you are well on your way to that dream life. Then keep improving every year for 19 more years. I know you’ll make. You can achieve anything that you want bad enough. Especially in 20 years. Go!

Action Financial Property Reframe your thoughts Time

Fix Your Mortgage Today!

Posted on September 29, 2022

Imagine paying £20k/$20k more interest in 2023 than you did in 2022!! This can happen if you haven’t been paying attention or don’t take immediate action.

Many mortgage rates have gone up 3% over the past 12 months. So with a £700,000 mortgage, on a £1 million house, you will pay £21,000 more interest next year. Your rates may have gone from 2% to 5% or £14,000 per annum to £35,000 per annum.

Now if you fixed that for five years, that would be £105,000 less in your pocket and more in your bank’s pocket. Yikes! I bet you could have had nice plans for that kind of money.

You can’t do anything about the rate changes up until now. However, if rates go up 3% more by summer next year, but you lock in now, you could save yourself a further £21,000 per year and £105,0000 over five years. You know it makes sense!!

Get your pen and paper out. Call your bank or broker and run the numbers. Get a fixed rate if it makes sense. This time next year you’ll be so glad you did. Do it now!

Action Financial Health & Fitness Reframe your thoughts

Remember To Smile

Posted on September 15, 2022

This one thing will win you more friends, interviews, promotions, sales and romantic relationships than just about anything else you could think of.

Smiling is fun, contagious, exciting, uplifting and joyful. Is hard not to smile if someone smiles at you. So if you train yourself to be the first to smile, you’ll get people smiling back.

Since our body state helps inform our mental state, if your body is holding a smile, you are more likely to be happy inside too.

So remember to smile, all the time, every day. Not just in photos.

Action Financial Think About It Time

What Will Be Your Legacy?

Posted on September 13, 2022

Events define people. Actions speak louder than words. And, what people broadly say about you when you are not in the room is your defining brand (for that group of people).

Have you given it any thought? What would you love your legacy to be? Will it be raising a wonderful family? Reaching certain heights in your job, career or business? Will it involve charity work or a specific level of philanthropy?

It is never too late to consider this concept, nor too late to take some actions to bring you closer to the legacy you would like to have or leave. Time will continue to march on though. So you best get on with your thoughts, plans and actions so that you can complete your legacy in your lifetime.

Action Financial Health & Fitness Progress Reframe your thoughts Think About It Time Weight

Delight Versus Settling

Posted on August 22, 2022

Are you 100% delighted with every part of your life? Or have you simply settled with where you are at? This is a tricky mental game.

If you say you are fine – you have probably settled. Fine is just that – fine. It is not amazing, delighted or “filled with joy”. And yet you can move much closer to those if you would just admit you wanted more or better in different parts of your life.

But that is where the tricky is. You might be afraid to admit you want more. This can be, in part, because if you admit you want better, you would feel silly not aiming for better. The reasons for this could be many but I would suggest it is mainly because it would involve some change in your life. Changing would be uncomfortable. And what if you failed?

Wanting something better is an admission things aren’t as you wish they were. And it would involve doing things differently. So you squash down your dreams, desires and goals. You say things are fine and hope no one presses you on it. How many years do you want to live like that? One? Five? 26?

Stop settling from today. Start aiming for brilliant, amazing, delighted, or even “so pleased”. It could be your weight or fitness, your income, savings and investments or relationship with your spouse, parent, sibling or children.

You can have level 10 across all areas of your life. First, be honest with yourself. Then set some new targets with some sensible timelines and get working on the life you would love to live rather than settling for one that is simply fine.

Action Financial Health & Fitness Reframe your thoughts Time

Set Goals With Milestones

Posted on August 5, 2022

I did that this morning and it worked great! I was at a cottage and wanted to kayak to one end of the lake. So I set my goal and estimated time. Then I had some mini goals, or milestones, which I set.

In addition to these, I gave myself some MTO goals. This made it easy to bail out of the Outrageous goal, if I didn’t have the time or energy to succeed with it, but still feel good that I had surpassed my minimum goal or even target goal.

Each milestone I passed gave me more energy to complete the reducing remaining amount. I celebrated each one which kept me positive and determined, despite the intense sun, sore hands and arms and aching bottom.

Despite the headwind and frequent foot high waves, I pushed through and did the whole circuit.

It was a gorgeous, sunny day with fabulous warmth (28C). Blue skies were peppered with occasional clouds, one was even fish shaped.

If you would like to learn more about how to achieve more in your life, pick up my new book, Achieve Anything, which is now out on Audible – A brilliant way to hear all the great content.

You’ll even learn more about MTO, goal and milestone setting and celebrating. Pick up your copy today! Click the link below or go to Audible to get it now.

https://www.audible.com/pd/B0B6QCBGWS/?source_code=AUDFPWS0223189MWT-BK-ACX0-315791&ref=acx_bty_BK_ACX0_315791_rh_us