We might suggest that for many that it means hope. Hope that your personal financial position improves.
However as Peter a contemporary on Sky Business says ‘Hope is not a strategy’.
Campbell has taken a business approach to his first 100 days. I.e. he has a list of actionable tasks with a timeframe in mind. That is for the new government to achieve in Queensland.
Barry O’Farrell said on Sky News just today after his first year that in the past in NSW ‘Budgets have been suggestions’.
That must change for all governments & that was one of several messages that the electorate sent to all governments with this recent QLD result.
As in a favourite programme SHA maybe the first call will be to order a fleet of miniskips. Will the result change your financial position today.
It will but only if you take a can do attitude can do a similar business approach.
Marion only told us today of her major concern that of leaving the house all paid off to her kids if her hypertension gets her.
When her debt is around ½ million & we suspect bigger then it won’t be paid off before both retire. Hence Marion is keen to have some ‘peace of mind’ life cover.
We have provided her with some simple goals.
1. Let’s Quit today so that you can afford the cover.
2. Let’s Quit today so that you can enjoy a trip to Paris where you daughter is enjoying today.
3. Let’s see if you are insurable today & achieve a first step.
4. Lets do a will today.
Now that wasn’t difficult. we suggest that only by taking a first step is anything achieved.
We also suggested a How to Quit strategy. you can always call us for that.
We read today that BOQ has lost $91million & needs to raise $450 million in new shares.
Wouldn’t it be nice to have some investable funds to buy shares at a discount.
In fact creating a simple portfolio can be structured to help Marion reduce that huge DEBT faster by having the taxx man subsidise it.
That would be a goal which might be achieved within the timeframe before retirement. However it can’t be today & we suspect ever.
There would be a Can do list for this.
1. Let’s do a budget which is not a suggestion & captures those $ that waft into the air.
2. Lets recall that debt reduction which is another message for governments is also a wealth creation strategy as it improves your net position.
3. Let’s review our mortgage as the lowest rate doesn’t mean you pay it down faster.
4. Let’s do our monthly cashflow HW to monitor our performance & enjoy debt reduction. 5. Let’s not raid our mortgage for the short term wants such as a corvette or a ride on mower or a 2nd new car or house renovations, trip to Lapland …. Yep we have heard everything over 17 years.
6. Do you want to use your super to pay off your Debt? Do you want to live on the pension?
7. Let’s have a 3rd & neutral umpire or financial coach to guide you & financially progress with an initial financial strategy. He will have expectations & that is important.
The BOQ might blame commercial debts for its results but there are almost certainly many private borrowers on their debtors list. This no doubt means separations & the pain that that causes in many cases for life.
We have just returned today from a conference with our daughter’s teachers. Amongst the agenda was ours & their expectations. My daughter volunteered on our return journey that she had completed 5 of her week’s goals. Yes she lists & tracks her goals each week.
Can you do & will you do that with your financial position. I.e. list your goals & then keep track.
It’s a business Can do approach.
Another message for governments & repeated by Barry O’Farrell was that we wanted less & smaller government. We wanted governments out of the way. We want less from them so as we can take more responsibility for ourselves. As the NAB could say ‘Less take & less give away’.
Are you prepared to make a small step forward to your independence.
As always prevention is better than cure & the earlier the better.
Barry O’Farrell also pointed out that NSW Work Cover is 4 billion short.
Would it be wise to be independent of Work Cover? When we read"& Mortgage arrears rise in Q4, expected to worsen as Christmas debts hit’ then let’s explore a different solution.
As another election message was trust then what do you do.
We suggest why not have a no commitment free lunch with us Monday to Saturday here to help you to make that decision.
We could discuss our subsidised debt reduction PCMS*or our Debt Zapper or ‘peace of mind’ or other financial strategies.
There is a menu there.
A first step is contact us on 07 3848 1088 or email us or book on our websites.
Maybe there is a solution to your financial problem.
John McAuliffe
