I am not quite sure where the year went but here we are again, less than a month away from Christmas. While Christmas is a wonderful time to relax, celebrate and spend time with the family it can also bring with it a whole lot of financial stress and uncertainty.
Just after we were married, my wife Lianne and I were fortunate enough to spend some time with a financial advice group. They helped us shape our thinking regarding our finances and our future. Like all young couples, we wanted to be able to travel, buy a home, have a family, for Lianne to be a stay at home Mum, send the kids to good schools and to be debt free as early in life as possible. We knew that being debt free would afford us so many more options in life but to achieve it we would have to be purposeful in the way we managed our finances.
As a financial advisor, clients are always thinking of ways to save money and pay off debt. One of the most common questions I get asked are, “Should we consider fixing the interest rates on our home loan?”
At Grandma’s Jars we are passionate about helping people take control of their personal finances and get out of debt. We have seen first hand the impact that debt has on people lives when it gets out of hand. Debt causes financial stress and is a burden that robs us off tomorrow’s cash flow making it harder to save and get ahead financially.
I’ll admit it, as a financial adviser and budget coach I do tend to manage my finances on the conservative side. I don’t mind taking risks but I take calculated risks. By calculated I mean that when faced with a major financial decision I objectively considered what could go wrong, what I would lose if things did go wrong and weigh this up against what I believe I have to gain.
One of the biggest concerns people have about taking on a budget coach is that they are fearful that when going through learning how to budget, they will be told they can no longer spend on something that is really important to them. Fortunately, this is rarely ever the case. As a personal budget coach at Grandma’s Jars, my primary concern is not so much what you spend your money on, but how much you spend relative to what you earn. The Golden rule of money management simply states – you cannot spend more than you earn. This is the mantra of every good budget coach.