Financial Success Group | A question for you
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A question for you

08 Jul A question for you

This is my personalised plate and when I’m stopped at an intersection, I always get smiles from strangers once they’ve worked it out.

license_plate

Have you got it? Because I would like to ask you that question… Which is: Why be at work?

Have you thought about this recently?

My challenge to you is to put a positive spin on it, as opposed to the ones we usually hear. Instead of bemoaning your commitment to the daily grindstone, I encourage you to adopt the philosophy that says: “I am not working to pay for yesterday’s lifestyle. I am working to enjoy today and build my lifestyle for tomorrow.” It’s about a flipping of perspective, where instead of saying or thinking ‘I’m paying off my holiday from last year’, you are saying or thinking ‘I’m saving for that holiday I will have next month’.

This is just one example of the issue we all face, committing a small percentage of tomorrow’s income to pay for the lifestyle choices we enjoyed yesterday.

Before we know it, we look back and find all those small percentages add up to most of our household income and then we wonder why we don’t get ahead. It’s an unfortunate scenario when we are so firmly planted on the treadmill of a life of having to work to keep our head above water. So, why do we do it?

We live in a world that bombards us with advertising and reasons to buy now and pay later. Plus we get that ‘feel good’ factor, those endorphins released, when we’re enjoying the pleasure of that new purchase.

Is now the time to say enough is enough? It’s not as hard as you think to start reducing those commitments and creating some financial wealth by spending less and saving (investing) more. Start creating a budget to ensure your household outgoings are less than your income. There may be a few sacrifices, but it’s worth it.

Another philosophy that I prescribe to and would encourage you to think about is: “It is not what you earn that matters, it’s what you get to keep!!”

Sadly, only 5% of New Zealanders will reach retirement and be financially independent and the rest will either still be working (because they need to), or be reliant on National Superannuation. Which group are you planning to be in?

This information is of a general nature and is not deemed a ‘Personalised Advice Service’ as defined by the Financial Adviser Act (FAA) 2008.

Barry Day

Authorised Financial Adviser – FSP 76241

A copy of my latest Disclosure Statement is available free of charge on request.