Know Where You Are Starting From - And Where You Are Going
Author: Lynnette Butler
Wealth is created not by accident, but by using strategies. In order to create wealth for YOU the first thing you need to do is take stock of where you are at NOW.
A financial check-up will take stock of your assets and liabilities, and your income and out-goings "what you have v's what you owe" and "what you earn v's what you spend"
In order to move ahead financially, you need to increase the difference between the two. This can be done by either reducing what you owe/spend OR increasing what you have/earn. This often requires a budget - and no - it is not a swear word! EVERY successful organisation operates with a budget - it is the ONLY way to prevent wasteful spending. Large corporates have financial plans - why wouldn't a household or an individual??
"failure to plan, has the same outcome as planning to fail"
Once you have established your start position, you need to set realistic and reasonable goals, and map your way to them. You will find a 'wealth' of information in books and seminars that will help you decide the way that is right for you to build wealth - or you can pay a professional to help you tailor your own plan. Professionals come in many guises - from financial planners, to sharebrokers, to property professionals, or you can use a coach or mentor, who gains only by direct income, rather than commission from the purchases you make.
One of the most important things to remember is to get your foundations right. Ensure that you have control on your spending, then build some cash reserves, and put risk management strategies in place, before seeking to invest.
A WOFF is an important part of YOUR wealth planning. Lynnette Butler will help you determine your 'Ground Zero' - your start point, and assist you to set reasonable and realistic financial goals. Valued at $200, for a limited time only, Lynnette is offering a FREE WOFF for all visitors to propertyshoppe.co.nz. If you need further help, Lynnette offers Wealth Coaching - a series of consultations over a 12 week period, for a fee of $750 - payable in 3x monthly installments of $250 if you wish, Contact Lynnette NOW!
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