Saturday, May 28, 2022
HomeFinanceSeven Principles to remove Money Confusion

Seven Principles to remove Money Confusion


In this ever-changing economy, it’s good to know that there are real people out their that want to help provide evidence based information about the current state of the play. The questions always are: why didn’t we do this earlier? or why should we set time aside to speak to speak to a real financial strategists?

One of the most annoying feelings is when you feel confused about money. You know you should be doing better and making money work for you, but you’re not sure where to start. The feeling of confusion grows as you see things that you want, places you want to go, the dream home you want to buy. Between listening to others around you and being bombarded via the media and social media, what you are you supposed to do?

As you fall asleep, questions taunt you….
– Is my money working for me?
– How do I prepare for retirement?
– Whose financial advice am I to believe?
– Why doesn’t my debt go down?
– Everyone is screaming at me to buy, buy, buy or telling me what to do!
– How do I get control of what I want?

Money confusion is the worst!
Yet, in the practice of Neurolinguistic Programming (NLP), the feeling of confusion is often a signal that you have learned something new and are struggling to process it in your mind. Confusion is a lack of understanding of how to apply basic financial principles to new experiences.

We reached out to Barry Wilkinson from Statewide Wealth Group for some guidance and it was outlined that the way to get back to the basics, is to get back to the foundation principles. Barry provided the following seven principles that may help you feel a little more in control.

1. Spending is emotional.
There are feelings and emotions behind the way you spend, and spending money emotionally could come back to bite you. Having a plan for spending and living within the plan gives you a feeling of confidence, control and financial peace.

2. When you track your money you control it.
Nothing is worse than feeling like you aren’t in control of your own finances. Why don’t you set time aside each month to look at your accounts. Schedule it in your  calendar and make it a habit

3. When you power down your debt, you power up your fortune.
Getting out of debt is like removing a two-ton weight from your shoulders. When you live this principle you can make fantastic progress toward your financial dreams, and this allows you to make the most of the financial opportunities available.

4. Know the rules of money management.
You will feel good having a basis on which to maintain your financial independence and determine the best options for your money. Understanding the rules lets you minimise fear.  And always align yourself with people you trust in the financial industry, just like you do with your doctor/dentist.

5. Always look at the big picture.
While the little actions move you towards big progress, it’s important to keep you eye on the big picture. Setting your goals and dreams helps you know where you want to go and how to get there – and lets you celebrate those achievements whey they’re reached. We recommend setting 1-3 year goals. It will give you a wonderful feeling to have a plan for your future and the power to work the plan, entitling you to financial hope, growth and opportunity.

6. Organising your finances enables the creation of additional wealth.
An organised approach to finances eliminates the uncertainty about how to structure your estate and helps you maintain it, worry-free. Set time aside each year to sit with your financial planner/accountant/mortgage broker to discuss your finances. If any (or all) of these steps seems like too big a task, contact your financial advisors (financial planner / accountant / mortgage broker) to get the guidance you need to get started.


We encourage you to like the Your Neighbourhood Facebook page, to be updated on other projects or developments in Brisbane or surrounds.

Source: Information, Drawings and Images
All article information is sourced and available for review from referenced locations.
Information: Statewide Wealth Group
Images: Statewide Wealth Group and Unsplash

Liked Your Neighbourhood ?

(Visited 242 times, 1 visits today)

Sourced: Your Neighbourhood

Website: www.yourneighbourhood.com.au

Source Link

RELATED ARTICLES
- Advertisment -

Most Popular

[td_block_social_counter]
- Advertisment -

INTERESTING ARTICLES

- Advertisment -

LATEST ARTICLES

- Advertisment -