Having worked in the finance industry all my life, I’ve often witnessed people looking to find the next “big thing” to invest in, with a view to making a quick buck.

That type of thinking has always made me wonder whether those who look externally for the miracle pot of gold ever take the time to pause and critically self- analyse their current financial position.

As an example, how many of us take the time each month to critique their own credit card statement when it arrives in the mail, comparing what they “wanted” to spend against what they “needed” to spend.

• Do you leave the credit card statement envelope sitting unopened on the kitchen bench or the study desk?
•  Has your bank signed you up for electronic statements, & you now don’t bother to look at them online?
•  Do you wait for the late payment reminder notice before you make the minimum monthly payment?   
• Have you ever received a threat of disconnection notice from one of your utilities providers?

Clearly I could go on and on with examples, but I think the list above is enough for now for the point to be clear - Burying your head in the sand is NOT an effective strategy.  

If you continue to struggle with effectively managing your finances, doing the same thing over and over is not the way forward.
 
……Let me use the analogy of a child’s sporting team with my explanation here. We don’t expect that the first time our daughters run onto the netball court, or our sons take to the football field that they will have an innate understanding of the game.

We expect that they will be led on the journey of learning the game by someone who has an understanding and passion for the game, and who has the will and the skills to effectively pass their knowledge on to our children.

Why should it be different when it comes to effectively managing your finances? Why be looking externally for the next “big thing” to invest in?

Invest in yourself! Invest in some coaching that will assist you to better understand the effective day to day use of your own money.
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To learn more visit www.empowermm.com.au or contact leigh@empowermm.com.au.

It’s only 9 weeks until Christmas.

Traditionally Christmas is a time of year when we love to catch up with family and friends and reflect on what those close connections mean to us.

Unfortunately it seems more and more prevalent in the world of rampant commercialism that we now live in, contemporary society measures Christmas in terms of the level of retail spending at the pre and post-Christmas sales.
I have absolutely no wish to be seen as the Christmas Grinch, and as with most of us I get great pleasure out of witnessing the joy some presents under the tree brings to my own kids on Christmas morning.

However, what I think has been lost in the relentless nature of modern marketing is the capacity for people to recognise their spending limits, and then feeling ok (not pressured by society) about choosing to spend within their means.

Buying something at the post-Christmas sales because it was 50% off is not a reason in itself to buy something that you don’t really need. I would argue that if you didn’t need a certain item the week before Christmas than you probably don’t need it the week after Christmas.

Furthermore, no matter the price paid an item isn’t cheap if you are still paying for it 6,12,24 or 36 months after you first bought it. Unfortunately too many of us fall in to the trap of using credit for Christmas shopping. The residual debt of a Christmas and post-Christmas shopping binge is often one of the key factors in people experiencing cash flow and budgeting issues into the New Year.

Using credit for Christmas shopping, combined with the expense of a summer holiday, followed up by back to school expenses in January/February, followed by rates bills in February is often the catalyst for people getting the feeling of being overburdened by their financial load.

As with most things in life the key is planning.

I mentioned earlier in the article I have no wish to be seen as the Christmas Grinch. Creating a manageable budget, and understanding the difference between a need and a want is the key not only to a happy Christmas, but the key to financial peace of mind throughout the rest of each year.   

Empower Money Management can help with creating a manageable budget, and provide you with ongoing coaching to assist achieving financial peace of mind.
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Contact Leigh today www.empowermm.com.au; leigh@empowermm.com.au

I’m sure we have all heard the saying “the definition of insanity is doing the same thing over and over again and expecting a different result”.

I have spent my working lifetime in the finance industry, and unfortunately I’ve seen first- hand countless examples of people getting caught on the financial treadmill. Typically people will live pay to pay fretting about paying the usual monthly bills, or worrying about how they will manage when the school fees or rates bill are due. For some, they worry about saving enough money for a short summer holiday with the kids. Others worry about how they will ever save a deposit to buy their first home.

Many times over the past 30 years I’ve seen and heard people voice these concerns; however the “system” does nothing to help. The “system” actively conspires against people, and just keeps you on the treadmill.
I’ve thought for a long time that there has to be a better way.

There needs to be proactive ways of helping people take control of their financial situation. As with most things in life the way to better outcomes is through the development of better methods of education.

My finance coaching service has been born from my belief that there has to be a better way forward for people looking to take control of their finances.

Through coaching, I can help build your understanding of your own financial capacity. As my vision states;
 
“Empowering people to make sound financial decisions on their own behalf, and enjoying the financial peace of mind that flows from good decision making”.
 
Welcome to Empower Money Management.

I’d love to help you navigate your way to financial peace of mind.

Please take the time to explore my website or get in contact via phone or my Facebook page if you also believe that there can be a better way.