By : Joy Lang

What most of us wish to aspire to, is financial freedom and reach a comfort zone, for which each and every one of us, can be proud. Doing this involve's greater restraint's on one's self, than sometimes can be imagined and a discipline which one cannot deviate from. From the time we are born, until out teen's, we all tend to think that money comes from somewhere but we don't have to earn it at that point in time, as mostly, there is parental support, which in turn, we take for granted, somehow Mum or Dad would give in and our cophers would flow until the next time around. Then we grow up and somehow need to earn and manage those earning's, which by the way, is hard because Mum and Dad did that for us, until now.

So, now we have left college or university and life is sweet but all of a sudden, we don't have as much time on our hand's as we always did. Why? Because now we need to work, to support our future. From this point on just what is our future? Still reasonably young and having to work, has now become part of , if not all of our weekly routine. Now's the end of the week and I am going to relax and guess what, spend my money. What a great weekend but, it's Monday and I don't have much money left, to get me through to payday, I can't ask Mum or Dad for some money, or can I, or rather should I? At this point in time, we are designing or should be designing, what is a financial path for our future. But do we? In most case's not until much later, when all of a sudden, we have what is the beginning of, just what Mum and Dad had to do to survive. Hmm!!! how could I have done that to them? This is not new to us and until the end of time, I doubt, that much will change, and Mum and Dad were always there for us, just as you will be for your children and so it begins again. But, it's most important, as to how you approach and adopt, to managing your finance's.

Inevitably most of us will marry the one we love and we are then confronted with the single, if not most important purchase , any of us will ever make, or manage, a home. This incurs for most, the saving of a deposit, then a

mortgage or two, to have something we can call home . Then there is everything we need for the home, like furnishing's, a vehicle to commute in and of course insurance's , important repayment's, day to day living and now we want children, so we can be a family. Again, nothing new about this! It's all in the way we handle our finance's. Sitting down at a round table and planning your spending approach, not to mention your saving's approach, is a step in the right direction. Discipline is needed, to follow your plans and if this is maintained throughout, a sense of pride and self satisfaction takes place within one's self, that well earn' sense of achievement.

It is important to pay your commitment's on time, however hard it may be at that point, you may well have to go without something at that point but this reward's you later, when the financial industry say's your welcome to borrow again from us and this time we will offer you more, should you need it. Self satisfaction, a sense of pride and achievement . You must have a direction in which you wish to follow, to achieve financial freedom and for most of us, that come's at retirement, not unfortunately, when we have just begun work. But, should you be astute enough in those early day's, that to can happen sooner.

Remember be astute even frugal ( Sparing, Thrifty) with your monies' and aim to achieve the following;

• Plan and save, get into the habit of that money not being in your hands but in your possession somewhere safe.

• Set your goal's and see them through. ( Self control, self satisfaction.)

• Plan your future and with each financial incremental improvement throughout life be a forward thinker and frugal in approach.

• Never say “That will be fine, we will change our plan's and tomorrow's another day.” Set your plans aside and prepare for failure.

• Use credit wisely and honour your commitment at all time's. Never allow your principal's to be put asunder never waiver from that commitment. If you do, then contact your lender ASAP and explain your situation and in most case's, they will help.

• Read everything (Twice) before signing, take your time.

• Plan your comfort zone .

• Teach your family the value of financial planning early and encourage them to respect this approach.

• Be honest with yourself and avoid letting yourself down let alone your family.

• Always, always, be sure of what you are capable of managing, never stretch the plastic so to speak.

• Compare banks / finance company's remember it is to your advantage to save money. Be frugal.

Never under estimate your powers of deduction and play it safe. Remember you “ Count Money and Weigh Potatoes'.”

I have two daughter's and have been married for 41 years to a Vietnam Veteran and I have a varied financial management background, starting with “Woolworth's Australia” and completing my work journey as head of account's for “Brickwork's Australia” or commonly known as “Austral Brick's”.  My studies' have included accounting, financial management, budgeting, payroll and recently stock market, option's, warrant's and future's. I now live happily in retirement on the Eastern Seaboard of Australia, within NSW. Joy is the Webmaster of Article's from-downunder

Thank You and Best Wishe's.

Regards

Joy

 

 

Article 2