All tagged financial planning

Do you know your F you number?

Everywhere I look at the moment, I seem to find a business guru showing entrepreneurs how to “scale up” or “grow” or “plan your exit” and all those popular buzz terms.

I have a different phrase that needs to be addressed by a business owner - “Do you actually know your F you number”

Why don't I want to deal with my money?

I have spent a long time pondering this question for a while:

“Why don’t I want to deal with my money”

It is a really important question to me as I deal with people’s finances for a living.

What do I mean?

I don’t like looking at my online banking.  I don’t enjoy reading paper statements of what I have spent and I certainly don’t like dealing with financial services in general from banks to the insurance companies that hike my prices for being loyal (yes that one grinds on me).

I know some people enjoy looking at their bank statement and investments every day, but I am not one of them.  This particular blog is probably not for you if that is the case.

Blog - 5 reasons you shouldn't hire a financial planner in 2017

A financial planner will dig into your financial life.  They will want to know what drives the decisions you make and what keeps you up at night and if you have a partner they will want to know this from both of you. Without this conversation a true financial planner doesn’t feel they can do their job effectively so they will ask difficult questions and try to understand what it actually is that you want to achieve.

Advice - How to plan your income

I will let you into a secret. Money is designed to make you fail. Very clever people realised many moons ago that people don’t like to deal with their money and personal finances.  

The banks realised that if they sold you a really attractive 0% credit card, the chances are that you are not going to pay off the balance and get charged a fairly high rate of interest when the “teaser rate” ends.  Teaser rates are by nature meant to tease you in and then a game begins.  They are basically backing themselves that they will beat you, mainly due to people’s inertia or lack of control over money.