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A man is NOT a financial plan

Yes, I’m being serious

Today, we’re talking about a subject that is dear to my heart – A man is not a financial plan. I’m not going to get all feminist, I promise.

The title can be easily “A lady is not a Financial Plan” but hey, it doesn’t sound as good!!

So many people that come into our world talk about when everything falls apart, they are financially ruined.

In today’s episode, we discuss three key topics:

  1. Finding your financial even-keel
  2. Fireproofing your finances
  3. Why long term budgeting is nearly impossible to maintain (as are our diets)

  1. A financial even-keel

We want to help you stabilise you finances so that if anything happens to you, your partner, or if your relationship breaks down, then you are still financially stable and you don’t need to start from scratch.

If you are in a partnership with someone, then do this process together. If you are not in a relationship, then find a friend who is in a similar situation to you and let’s get started. It is so much easier if you have a support network.

  1. Fireproofing your finances

I’m using this an analogy. Say, for example, you experience a fire that burns your entire house down, ruins all your possessions and thus puts you in an insecure financial position. Maybe you don’t have enough insurance, for example, or it is simply financially detrimental to you.

The process we are referring to ensures that no matter what happens to you, you will be financially stable and, you won’t need to rely on somebody else.

  1. Long-term budgeting is hard to maintain.

Just think about the amount of times you may have dieted, for example. I know for myself that I’m always trying to find a way that I can eat what I want yet stay a healthy weight and not put on weight. Maybe I should stop eating cheese (SW: nooooooo!!), but I love so do not want to do that.

How many times have you been on a diet that is super, super strict, yet you do very well until you fall off the band-wagon and then; Bang! Five extra kilograms appear onto your hips from nowhere!

This is what I am talking about, long-term budgeting is really hard work. So you need to find strategies where you don’t have to think about it, yet it is already working for you.

Putting financial strategies into place – The Barefoot Investor

Those are three very important points. So how are we going to help you put them in place. I would love to say it will happen overnight, but unfortunately it won’t.

I would love to introduce you to the book; “The Barefoot Investor” by Scott Pape. I have to tell you that I love what Mr Pape has to say. The first part of the book involves you having to do something every week for a five-week period and thereafter once a month.

If you follow the strategies in this book, then you should be well and truly on your way to having a fireproof financial plan. And it doesn’t have to be rocket science. We have clients at Catalyst Plus who have been using this plan for over five years. One client decided to take six months holidays, leaving her team to look after her business. Since she’s returned, she has been regenerating her business, growing it significantly. Throughout this entire period, she hasn’t been concerned about her finances.

You can find the barefoot investor at Big W for approximately $20 or you can purchase it on-line at Booktopia. Alternatively, you can come by the Catalyst Plus office, say Hello and purchase a copy off us. I can guarantee this book will be the best sub $30 investment you can ever make. And it should keep you going for the rest of your financial life.

I hope this week’s episode – A man is not a financial plan – was helpful to you. Have a great week, keep making more possible and we’ll see you in our next episode of Catalyst Plus TV.

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