February is our highest month for new enquiries - you’re settled back into the groove and the kids are back at school. Often people have changed their work situation, but are spending all their current income. How will these changes impact their new earnings?
If you are spending everything, is it possible to make that shift and take a cut in income?
Whether you’re self-employed or taking a cut in income, you’ve got to get your financial house in order.
A lot of people spend everything they earn, often not because they have to, but because they either haven’t had a reason not to. For most people, 10-15 per cent of what they earn is just wastage, but they need a way to find that wastage.
When asking clients how much they fritter, maybe 10 per cent get it right.
A lot say they don’t know, but in fact it’s around $20,000 a year. There’s still a real disconnect between what they are spending, what actually makes them happy and what the overall effect is.
Money does buy you happiness to an extent, but dependence on it can buy misery. It means you have to stay in a situation you don’t like whether its work or a relationship.
If you are contemplating a career change, which may not pay as much or you want to start working for yourself, you need to get a financial warrant of fitness.
Make 2018 a year that counts.
We’re at the start - you don’t want to have regrets at the end wishing you’d done something at the start.