Money, Money, Money

Money, Money, Money

Whether you're thinking ABBA or Donald Trump right now, it's time to ask yourself - "Am I a consumer or an investor?"

As PM John Howard launches himself into the final leg of his election campaign he's urging Australian's to throw off the "cultural inhibition" of fearing success, saying that "growth is good; we should believe in it, we should aspire to it".

Prada or Gucci?

Absolutely Johnny, I couldn't agree more. However, when we aspire to success what does that mean for us in monetary terms, on a personal level? Are you thinking about the Porsche you want to buy, or the new pair of Manolo Blahnik's? (those are shoes for the boys out there!). Or are you deciding where to buy an investment property or which bank to transfer your business to to take advantage of their low interest rates?

The reality is that we can't rely on winning the Lotto to give us the financial success and freedom that we dream of. We need to plan, and we need to change our mindset from being a consumer, to an investor.

Dollar Dazzlers

Follow these quick and easy steps to becoming financially responsible:-

* Winning the Lotto is NOT a realistic goal. Set yourself some financial goals today - think about your salary, your savings, your property and share portfolio - what does financial freedom look like to you? You need to know here you're heading in order to get there.

* Live within your financial means - only spend money you have and ditch the credit card

* Get a good accountant and claim all the legal tax deductions you can

* Contribute to a savings account - transfer a set amount every payday into your account & don't touch it!

* Keep a spend-diary - write down EVERYTHING you spend for 1 month. You'll be amazed at where your money goes to and will soon realise how much more you could be saving!

* Ask for discounts - I saved hundreds recently in Bing Lee! Don't assume you have to pay the ticket price - just ask, you've got nothing to lose and DOLLARS to gain.

* Sell your junk - de-clutter and sell your old 'toot' on EBay - then SAVE the money you make!

For more information on getting into a Millionaire's Mindset contact us today at Outshine Consulting on +61 2 9571 1684 or info@outshineconsulting.com