All posts by Heather

Lifestyle

What is Important to you?

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Make all financial decisions based on what is important to you, not simply because you want to make more money.  Why?  What will more money mean?  Why are you making that purchase or the investment?  What will it mean to you in your life today and in the future?

Because: If you are not focused on what you truly want, then it’s too easy to make decisions that “feel good in the moment,” but aren’t really supporting your long-term vision.  It’s too easy to make decisions because you have a sense that you “should” do something; or to make decisions because you feel guilty about what you have or have not done with your money in the past.

Financial Tips

Physics and money

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You know the principle: something in motion will stay in motion until it meets with resistance. Well, we also know that the most effort is exerted in getting something into motion.

This principle applies to finance as well as physics. The hardest part is to get a habit, strategy or plan into motion. However, once you’ve started, there is a period of time when things will almost coast along provided you can make it past the initial stages to reach momentum. When you do, your plan, strategy or habit will continue until met with resistance, which might be self-made or created by something beyond your means.
A good question to consider is what is it financially that you know you ‘should’ do, but just don’t seem to be able to get started?
And, if you are doing something financially that is taking you toward your goals, what can you do to minimize the impact of resistance?

Financial Tips

One thing after another… 

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Have you noticed how life doesn’t stand still, no matter how hard we might wish it would? We go from day to day, month to month and season to season. The days get shorter in the fall and, for some reason, the money seems to get smaller too as there are often more expenses in the fall – at least there are when you are working, and especially if you have any kids or students heading back to school.

It’s easy to get caught up in being busy and to jump from task to task without taking time to reflect and plan. Yet, this is the best time to do that. Why? Because when you are busy, it is the best time to mentally take stock of where you are, where you’re going and what needs to be done along the way. Pick up the phone and make an appointment to review your finances if you need to… the Christmas season and the new year is just around the corner.
And, as you’re doing your reviews, make sure you stay focused on the task at hand and what’s important to you. It is far too easy to get side-tracked because something seems important and necessary at the time, but perhaps really needs to be reviewed. Stay focused on one thing at a time. Make plans and stick to them. Get help and you will be accountable to your results. One thing is for sure, whether you think so or not, you are moving forward -hopefully in the direction you want.

Financial Tips

Its not what you spend but how you spend

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So much of dealing with money and building a solid foundation of skills and knowledge begins with how you spend money – not just what you spend it on as so many people claim. With that in mind, remember that spending money can make you wealthy. Fear and scarcity and ad hoc, trial and error finance will keep you broke. Here is the history of Retail Black Friday.

And, if you are participating – start with rule number 1: use cash for your purchases even if it means having to take a cash advance on a credit card, or making a payment in advance to your credit card.

Uncategorized

Financial holiday activities

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We would like to take this opportunity to wish you a very Merry Christmas and Happy New Year!! We would also like to send you off inspired and excited about the weeks and year ahead.

While you are enjoying yourself with friends and family over the next couple weeks, there a few powerful things you can do to build your financial foundation:
•   Acknowledge all the good you currently have in your life from the simplest of pleasures such as your ability to communicate freely to the more complex like your expertise, professional relationships and opportunities.
•   Be aware of what inspires you: beautiful things, entertaining, being entertained, giving gifts, receiving gifts, planning activities, quiet and peaceful reflection, none of these things, or all of these things.
•   Consider where you are today and where you would like to be this time next month, next year, and 10 years from now.
•   Document your feelings, your frustrations, inspirations, ideas and the finances associated with these things. If you are inspired to give many gifts to people you know as well as to volunteer your time for others in need, then: how much money will it take for you to be able to freely buy the gifts you want for those you love? And, how much time will it take to do the things you want to do next year? And, if that means time off work, what is the cost to do that.
•   Everything you do this season, do it thoughtfully and begin to connect your feelings, activities, current reality and your dreams to the dollars and cents required to maintain and create your life the way you want to live it. When you know how much money it will take to live the way you want to live, then you have the basis of creating and following a plan.

Financial Tips, Lifestyle

Don’t procrastinate about loss protection

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As we all would prefer to never lose anything, loss is a fact of life and one that needs our attention in terms of how it affects our lives financially. From a financial perspective, consider the following categories of potential loss:

•   Material loss (stuff)
•   Personal loss (death, divorce or moving away)
•   Health loss (sickness or injury)
•   Financial loss (investment, fraud or income)
Within each category, there are obviously many different ways that we are affected. The common theme though is the impact loss has on us from an emotional perspective. Whenever there is a significant emotional upset in your life, there will be a negative impact on your ability to make decisions and function effectively. And this is where a solid financial foundation will help you prepare for the inevitable losses that are part of life.
We know that no one wants to face loss, which is why procrastination seems like an easier option. This is the same fear and emotional response to avoiding setting goals: you are faced with the reality of where you are compared to where you could be. From a risk management perspective, this means you have to come face to face with the reality that risks are present in your life. From a goal setting perspective, you have to come face to face with your current situation compared to where you would like to be, and both situations are like the ‘yawning chasm’ that seems daunting and overwhelming.
When you can recognize this emotional block, you can take charge. And, it is in these decisions to build your foundation to prepare for the future that the losses are minimized and the rewards become real.

Financial Tips

Here we are again – HO HO HO

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Here we are again – HO HO HO… Year end, a time for celebration, reflection and giving. And, along with the giving, some spending money and time with people you love.

It’s easy to get caught up in the busyness and forget priorities. Because so much of the Christmas Season is connected to finance, we thought we would start this month off with a special Fast Action Tip for not only surviving, but also thriving through the holidays making a difference in your life and the lives of others.
Your tip is to slow down. Yep: stop, look, listen. There are many beautiful sights and many beautiful activities. Pay attention to what’s going on around you, the people, the music, the messages, the packages, the hurriedness and the feelings you have as you carry out your everyday activities.
How will this help you survive and thrive, and how do you slow down? Make lists of your activities, your purchases and your priorities each day. That way, you have a road map to start with. Then, at the end of the day, review your lists, add your spending and cross reference your priorities with your time. Now you have a system in place to measure and manage your progress, which are tools used in business. You are carrying out your day-to-day business in a controlled confident manner that will give you a foundation for making decisions that support your true priorities and values.

Financial Goals

Are you sabotaging your own success? 

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Are you sabotaging your own success? Yes. Seriously. Everyone wants to, and should be, rewarded for their efforts. When it comes to money, you work hard for it and want to make sure you are making wise decisions that will provide you with rewards that give you a sense of accomplishment and well-being. Unfortunately, what happens is that throughout our life we make decisions, have experiences and learn ways to make decisions that might not be supportive of positive results. If you have lost money, for example, you likely learn to be more cautious or sceptical, perhaps even fearful in your future decisions. Your justification would be that you don’t want to get hurt again. This same process can happen if you have ever lost a job and your sense of self-worth is injured. Throughout life, we all have experiences that either reinforce a positive outcome, fearful intimidation, or scepticism. These attitudes affect the way we interact with our money and with other people. Ultimately, your attitudes are shaped, and how you think determines what you say, what you do, and therefore the results you get.

Because we are talking about how you think, we are really talking about what you believe. So, the questions you have to slowly become aware of are about what limitations you are putting on your decisions. Are you saying things like, “that’s not realistic”, or “I can’t”, or “if I had…”.
When you look at your situation, do you think it is impossible or will take a miracle to turn things around? If so, then will you do things, learn things, talk to people, ask questions, etc. to create a miracle? Or, will you let impossible determine your results. These small decisions do not have to be complicated, they can be as simple as deciding to consolidate your investments so you have a portfolio rather than a collection of individual investments; or securing a line of credit with the equity in your home to enable you to purchase other investments; or increasing your monthly cost of insurance so your family’s assets are protected while you start a new business; or maybe it is deciding that investing in a vacation with your spouse using a credit card is a good investment in your marriage even though it will then require six months to pay for afterwards.
We are not saying go into debt, max out your credit, or spend and invest frivolously. We are saying become aware of what you want, why and, at the same time, recognize that what you believe is what will eventually become your reality. Then take steps to work with your professional team to implement a plan to experience the best, not sacrifice for the least!! Your financial professional can do much more than simply recommend products and strategies, they can help you implement plans to get you results you didn’t otherwise think were possible – but – you have to first believe there are ways to overcome impossible situations and experience miracles.

Financial Tips

Press on… hold or fold? 

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Press on… hold or fold? In investment circles, this is known as buy, sell or hold. In business, it would be quit, restructure or carry on. With credit, it is more likely give up (file bankruptcy or formal credit plan), refinance or live with it.

Any way you look at it though, the world of money frequently has 3 choices: stay the course, rearrange things, or quit and start over. This week, we’d like to encourage you to consider exploring options when you are faced with financial decisions.

Lifestyle

How you look at money is how you see life

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How you look at money is how you see life. If you see money as scarce, that scarcity mentality will be reflected in other areas of your life such as eating, spending (or not) and time. If you see money as an obstacle, it will likely be difficult in one way or another. If, instead, you see money as exciting, interesting or as a tool to living life, your approach will be very different.

Mastering the tool of money first requires you to understand that is just that, a tool not unlike any other household tool that we use on a regular basis. Using a fork, for example, we learn to master at a young age because of its usefulness for eating. A pitchfork for gardening, however, might never be used unless you take up gardening. And, if you do garden, you will quickly realize that a pitchfork is far more useful for digging a larger garden than a smaller hand fork. You will also ascertain that a garden fork serves an entirely different purpose than a fork you eat with even though they look very similar.
Using this analogy, you can easily see that if you’re looking at a large garden bed that needs the soil turned over it would be a long, tedious task to use a smaller potting fork to prepare the soil. You turn over the soil in a garden to prepare it for planting and to facilitate growth. You use an appropriate tool to prepare for the change necessary for the new growth. The secret to successful gardening is to first prepare the soil beginning by selecting an appropriate tool.
The key to successful finance is to recognize your perspective, and understand that you can plant seeds that, with nurturing, grow into a beautiful garden. But, before you do, you must realize that at some point you’re going to have to dig into the dirt of your current thinking that has created the current situation, then use an appropriate tool to plant and grow your garden before you can harvest the crop.

Okay, so if money is almost as important as oxygen for survival in our society, then what does it really mean when you hear people say, or perhaps you say yourself, that you don’t like money? If anything to do with money issues creates stress for you, or every time something to do with money comes up that you would rather avoid, then stop and ask why? Consider some of the following questions to determine if your values, beliefs and priorities around money are serving you in your life or holding you back from what’s really important for you:
•   What don’t you like about money?
•   Why don’t you like dealing with money?
•   What about money causes you stress?
•   Why does money cause you stress?
•   What do you associate with money?
•   What do you like about money?
•   What does money mean in your life?