Control Your Future Finances

Do you wonder where your money goes each month?

Lots of people have no ideal where they hard earned cash goes, and thats ok if you want to live week to week and don't want to think about what the future holds. However most people do think about their financial future, they want have a better lifestyle, be secure in their old age and have some savings and not be completely dependant on a state pension.

This is Sandra's Story

Sandra is single, 35 year old Personal Assistant for a well-known organisation, and earns over £35,000 a year. She has no debt only her mortgage which she is paying off. Sandra has a good standard of living, she bought whatever she wants when ever she wants and thought she earned enough to live her life style. But Sandra had no ideal really where her monthly salary went. One day she decided to take stock of her life and plan the future which included her financial future.

The first exercise she was to under take was to sort out all her credit card statements and her bank statements for the last 6 months. She listed all her outgoings against her salary under specific headings i.e. food, utilities bills, mortgage, etc. When she finished she was surprised to see how much money she wasted and more importantly, how much she was overspending! Going on this way she was getting her self in debt.

In the past Sandra hadn't though much about her financial matters, as she had a good well paid job and as a Personal Assistant, she was always busy at work and had a good and frantic social life, she really did not have time to sit down and work on her financial affairs, she earned sufficient money for her life style, didn't she?

Sandra now has acknowledged her true financial situation. She has realised that if she lost her job she couldn't afford to survive financially for more than a month, she realises that only she is in charge for her own financial future.

Sandra underwent coaching in financial matters; she was serious about making changes to her life. Before she sat down and wrote down her outgoings she would never had been interested, she was happily going along with her life, but things have to change.  To do this, Sandra went along to an organisation that would look at her finances and advise her on the next step to take. This type of organisation looks at every aspect of your life style and provides an on going education as to how to manage your finances better.

After her fist session with the organisation Sandra was really shocked, as to how much money she was "giving away" to the Tax office, because she was being Taxed at 40%. By making some small changes, she could make some investments that would bring a return over a few years.

Sandra gained enough knowledge to rearrange her finances and make investments that would help to make her financial impendent over the next 3-5 years, it's simple when you know how!

You are responsible for your financial future!

But you need advise from the right professionals, financial planners, or accountants, but you need to be in control there your finances.

Many independently wealthy people and the professional's all agree that you can rely on any one person to sort out your finance, in conjunction with your adviser you have to be proactive.

Know how to Take Control of Your Financial Future

Your starting point is to list your incoming and outgoings, how much you owe on credit cards etc and if you have any savings. Writing in down always brings the situation to a reality.

Once you have done this exercise, you will know if your need to seek professional advise.

How to Get Started

Talk to an accountant on the best way forward. They will advise you on any savings you can make to increase your income.

Talk to people you know who are wealthy, get them to tell you how they did it, and ask lots of questions.

If you are serious read Books, research the Internet, gain as much information has you can, but remember don't believe everything you hear, see and read.

Listen to people who are really "made it" rich, there's lots of people out there who think they have, be very careful who advise you take.

Action Plan

Everyone makes mistakes along the way, but learns from them and moves on; it's the only way to move on.

Being financially secure should be your priority in life, who wants to work long hours to support a life style? Not enjoying some freedom to spend time with family & friends.

Imagine being able to work when you want to, not because you have to?

If financial freedom is something you have an aspiration for in the near future you have to act now.