Tag Archives: personal finance

New Year’s Resolution #3: Reduce Debt

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If 2014 ended with your finances in a precarious position, then perhaps you have pledged to improve your money situation this year. Since many people don’t keep the resolutions they make at the beginning of a year, what can you do to ensure that you realise your 2015 money goals?

It’s best to review all the things you want to achieve with your money, and identify two or three objectives that would dramatically improve your finances. Then you need to carry out some small action every day that will further these goals, and you should see positive growth by year end.

An increasing number of people are currently struggling with debt issues which are crippling their ability to manage their money. If you admit that your borrowing has put your financial future in jeopardy, then reducing or eliminating debt must be one of your important plans for this year. Continue reading New Year’s Resolution #3: Reduce Debt →

Money Resolution #1: Make A Budget

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For many people, the beginning of a new year is the appointed time to get serious and make firm resolutions for positive changes in their lives. It is also customary for some of these people to give up on their self-improvement promises by the time month two or three of the year rolls around.

Very often, the reason that they fail to complete their New Year’s goals is that they did not outline exactly what they were required to do to accomplish them. It makes no sense for you to make nice-sounding resolutions without thinking through the requisite steps to realise them.

Lack of commitment to the hard work required for change to occur is another obstacle to goal achievement. If you wish to reverse an undesired behaviour, you must be willing to do whatever it takes, despite discomfort or inconvenience, to adopt new attitudes and actions. Continue reading Money Resolution #1: Make A Budget →

2015 Money Forecast

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Another year has arrived and I would like to wish all my loyal readers a Happy New Year! For me, 2014 was filled with new beginnings and break-through events. I also encountered delays in completing some goals and learned valuable financial and business lessons from my experiences.

One of the highlights of 2014 was the interaction with my readers. This column has given me an outlet to meet many persons who share my interest in personal finance or need assistance with their money concerns. I look forward to engaging with many more of you as this year progresses.

The wonderful thing about a new year is that it gives us all the opportunity to erase the mistakes and disappointments of the past twelve months and set a more positive agenda for the coming period. The past is history; now is the time to chart your course for a more prosperous future.

Try to visualise 2015 as a new day just before the dawn breaks. As you gaze out into the horizon, what kind of financial ‘weather’ do you foresee that the upcoming period will have in store? Does your money forecast for the New Year feature dark, stormy clouds, or bright, sunny skies? Continue reading 2015 Money Forecast →

Conversations at Christmas Time

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To all my faithful readers, I wish you a blessed and happy Christmas! Just for this day, try to put aside all the concerns and challenges that you may be facing with your finances, and focus on enjoying the food, fellowship and festivity with your family and friends.

If you’re celebrating with your relatives and close companions, consider yourself fortunate. There are many persons whose loved ones are no longer part of their lives, whether through death or separation, who find this time of year particularly depressing and lonely.

There are news reports of disasters – famine, disease, mass murders and kidnappings – that persons all over the world are experiencing at this time. These should help you to put your own problems into perspective when you consider the immense suffering that’s taking place elsewhere.

So eat, drink and be merry! Spend the day making cherished Christmas memories that will last for a lifetime. However, when the holiday frivolity has subsided, your thoughts may return to reflecting on the less pleasant money issues that have been pervasive throughout the year. Continue reading Conversations at Christmas Time →

Holiday Reality Check for Kids

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It’s often been said that the Christmas holiday period is best enjoyed by children (or those who are young at heart!) Most youngsters look forward to a visit from Santa Claus, who travels around the world on one special night, rewarding all the good kids with the presents they wished for.

Many other children, who are old enough to realise that the celebrated tale is just a fantasy, still expect to see their brightly wrapped gifts under the tree on Christmas morning. Going out to a few parties or festive events is also a major part of the seasonal excitement that children really want to enjoy.

For most parents or caregivers, the squeals of delight and enthusiastic hugs that they receive from their satisfied kids help to make the holidays extra special. I believe that there are very few adults who would willingly take away their children’s joy by denying them their heart’s desire at Christmas. Continue reading Holiday Reality Check for Kids →

Twenty-Day Money Challenge

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As the year winds down to a close, this is a good time to reflect on the items on your ‘must-do-in-2014’ list which you may not have accomplished as yet. Although we are heading into the busy holiday season, you still have a few weeks to try to clear up some of your important, unfinished business.

As you may have discovered, making plans and executing them are vastly different undertakings. It is easier to write down what you would like to get done, than to actually do the steps required to carry out your goals. Procrastination, doubt and indecision are usually the main causes of this failure to finish.

Instead of giving up and declaring that it’s too late, aim to make the last twenty days of the year really count. Let’s look at some strategies that can help you to refocus and re-energise yourself, and get moving on this year-end goal challenge which will allow you to head into 2015 on the right footing. Continue reading Twenty-Day Money Challenge →

Knock Until Doors Are Opened

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“For everyone who asks receives; the one who seeks finds; and to the one who knocks, the door will be opened” – Matthew 7:8

Recently, in a crowded supermarket checkout lane, I viewed the trolley in front of me with dismay. It was loaded with groceries for someone’s month-end shopping trip. I didn’t look forward to being stuck for a long time in the supermarket; I was tired and ready to go home.

Although I had more than a handful of items in my own cart, I decided that I had nothing to lose by politely asking the lady in front if she would allow me to cash my goods ahead of her. I don’t normally like to inconvenience someone else who might be in a hurry to leave as well, but it was worth a try.

Happily, the lady was quite gracious in giving me her space. She even offered another person who was behind me the opportunity to exit faster as well. As I gratefully completed my transaction, I thought how often we miss opportunities to get ahead in life, simply because we fail to ask for what we need. Continue reading Knock Until Doors Are Opened →

Seek and You Will Find

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“Ask and it will be given to you; seek and you will find; knock and the door will be opened to you.” — Matthew 7:7

Some persons think that if they have clear financial goals which they would like to accomplish, then they should not experience too many obstacles en route to success. They believe that if they come upon challenges which make the process difficult, then their goals were not destined to be realised.

There will be occasions when no matter how desperately you wish for your dream to come true, it will be highly unlikely to occur. This could be the case if you don’t convert your dream into a smart goal; with specific, measurable, actionable, relevant and time-based objectives that you can apply.

For example, if every month when you pay your landlord, you declare, “One day I’m going to turn the key to my own door,” but you never put plans in place for this desire to become real, then don’t expect a miraculous event to eventually bestow you with the home of your dreams. Continue reading Seek and You Will Find →

Ask and You Will Receive

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Many of the obstacles which prevent people from accomplishing their goals and dreams are not complex issues; they can often be simple problems which are relatively easy to resolve. Sometimes persons create self-made barriers without recognising that they are sabotaging their own success.

When it comes to money, people will find all types of excuses to explain why they cannot break away from their financial pressures, and take steps that will lead them into a more secure financial position. Very often, one small step is all that’s required to get the momentum flowing in the desired direction.

Trying to find solutions to perplexing money problems can be confusing for the average person who doesn’t have any experience in financial matters. Too many people think that because they don’t know the answers, then they are forced to live with their challenges forever. Continue reading Ask and You Will Receive →