Finance Wanted.

By Donald Yates

Is the love of money really the root of all evil?

Today belongs to the paycheck but tomorrow belongs to the prudent investor. Even as a person starts out in life, the end looms in the distance. It is everyday cost that determines positioning in future years. You must implement long term planning as a resolve to how you will spend your last years.

What does long term planning consist of?

1. Budgeting
2. Long term plan
3. Securing assets
4. long term commitment

These four factors are the basis for securing a financial free future. The fact is, you pay for today but you must finance your future. If you buy a home a car or any big ticket idem, you must make installments. Life is the same, it can be secured only by making installments. Unless you hit the lottery or inherit a great sum of money, you must buy your future by making pre determined payments. The future is bought in increments, one step at a time.

Plan For Tomorrow

Some factors are given, like monthly overhead, and predicted life span. Daily overhead cost are a given. You know and can expect the same cost from day to day, plus cost of providing services, increases. Considering the ten percent you hold out for your future you must stay within your allotted income.

Given any unseen events, you will probably live around eighty five years. If you are twenty five now and let's say you work twenty five years . . . that gives you thirty years you need to finance. You are essentially buying twenty five years of lifestyle. Because of the cost involved, you must use financing to achieve your objective. That's ok, it's common practice and one that can be mastered with a little determination.

The Mission Statement

First let's start with a mission statement. A mission statement is only a decoration of intent. It is a statement pertaining to your reason for doing. It answers the question, why. It also brings into light the facts of the situation. If you are married it must be a joint activity. Your spouse must be in agreement with the desired results and also agree to work jointly to achieve it.

Second, how are you going to do it? Financing twenty five years of life while maintaining a desired lifestyle is a daunting task to say the least. Unless you are a financial planner, you should seek the advise of one. Your life is your experience, I know that sounds a little obvious but you would be surprised how many people don't give it a second thought. An advertisement, I hate, is one where the couples TV goes bad. He runs down to the local supplier, and the music is playing with singers singing, "I want it all and I want it now." Of course that advertisement is from a credit card company.

Make a Budget

Make a budget and stick to it. Examine your lifestyle and determine if you can afford it. I know, no one wants to give up what they have been used to and you don't have to either. Through careful planning you can be prepared for what ever happens in the future. Do not use credit cards to finance today's desires. Filling today's desires will leave your future broken and in disarray. In fact, credit cards are one of the worst types of financing you can use. Their interest and other charges makes them a poor choice of use. If you need something, barring an emergency, make payments to yourself until you can pay cash. True, you must use the credit card occasionally, to keep your credit rating up. Use the card and pay it off within thirty days.

Be faithful to your budget. Stay on track and soon you will see results. There are a lot of good budget planers around. Go to your local office supply store and I am sure they will have one. The thing is, a budget is only as good as your commitment to it.

Develop a Life Plan

Third map it out. Like any adventure, you must have a map of where you are going. Perhaps you may have to take a second job or change jobs to accomplish your objective. Don't let today's things get in the way of tomorrows living. What happens it you aren't making enough to pay for your future? What kind of installments do you have to make? Either adjust your expatiations, or make more money. It's really that simple. If your job is not providing you with the capital you need, perhaps you should consider becoming part time or full time self employed. I know that sounds a little intimidating but it is not impossible.

How can you increase you earnings? One way is more education, certification or licensing. If you are a professional, you can increase your value by reaching a higher level of potential. Non professional people, can also increase their value to their employer by learning everything there is about their job. Attend seminars, conferences, any thing that would put you at an advantage. Always remember, your life is at stake.

Commit to your Plan

Now it comes down to commitment. Not many people can commit to anything. Marriage, family, job, relationships, there is little or no commitment anymore. People have become too self orientated and see commitment as a distraction to self fulfillment. Don't fall into this trap, free yourself and live a life of enjoyment and accomplishment.

Finance is and must be considered if you are to live an abundance life. Use the ten percent factor to secure your future and give you peace of mind.

Live an Abundant Life

It is your life , how will you experience it? will you be in constant need of money and constant pressure from finance companies, or will you be prudent and plan your financial future? Plan to be every ting you were meant to be. With a little foresight, finance will be no problem and your life . . . will be not only on track, but more pleasurable.

Next, Health, Wealth and the pursuit of Health

Happy Trails

Donald Yates, Former Director of Business and Leadership Development for Imperial Research, is now retired but continues to assist young people in engaging life through self discovery, Life course planning, intuitiveness and fulfillment. Learn how you can build a powerful organization of your own. To learn more, visit http://www.clean4profit.com
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