FOR YOU TO DO
FOR YOU TO DO
Here are three exercises to get you started. The first will help you assess where you are today.
The second will help you resolve a problem and introduce you to the coach’s main tool – the insightful question.
The third will help you define and energise your life.
LITTLE TASKS WITH A BIG IMPACT
Simply pick one a week and have a go. Often only small things to do, they can potentially have a big impact on your life and money.
Give them a go!
This week: Decide a start date for your life and financial plan. This could be Jan 1 or your birthday; The start of the tax year, your business year start or the start of the academic year might work better for you.
This week: Live in the moment. Practice mindfulness, a practice which brings us to the here and now, living for the real moment, not the past, or the future.
This week: Create your own lifetime cash flow document. You can construct your own using Numbers or Excel. Alternatively subscribe to Living Money’s lifetime cashflow app.
This week: Try to use debit cards rather than credit cards. If you use credit cards, stick within your spending plans.
This week: Plan to repay the most expensive debt first, then deal with less expensive debt.
This week: Think about your attitude to risk. Decide how much risk you are comfortable with as you plan your portfolio.
This week: Develop a spending plan, which will tell you how much of your income needs to be moved to your spending account each month.
This week: How much time are you spending on things that really matter to you? Record how you spend your time this week, see where your time really goes.
This week: Look at your own financial situation and identify sources of income for later life, assessing the risks to those sources and the potential returns.
This week: Find a drawer, box or cupboard, one that is out of the way, ignored and which you know to be full of ‘stuff’ not looked at for years. Aim to empty it by making a decision about every object. Decide to use it (so put it somewhere accessible and useable), recycle it, give it away, sell it or dispose of it.
This week: Take the guilt away from saying ‘no’ to every charitable request. Based on your values and aspirations, decide which charitable organisations you want to be involved with, and say a guilt free ‘no’ to the others.
This week: Clinging on to beliefs from the past will make sure that freedom always eludes us. Find time to relax and let go of these falsehoods.
This week: Create space in your life, and factor in some time, to take the first steps in the planning process.
This week: Research long-term savings options. Highlight the ones that will support your lifetime goals.
This week: Act, put pen to paper and write down a first draft of your life goals. Refine, expand, add detail over subsequent weeks.
This week: Go out for a long walk. Think about what is really important in your life.
This week: Your portfolio of financial products is there to support you in your life goals; if they don’t, change them or adapt them.
This week: : Each time you renew your plan, you can narrow the range.
This week: Sitting down and not doing it, the opposite of what we think we should be doing, can be immensely rewarding.
This week: Therefore reviewing and renewal is important. Life changes, plan a review.
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