Financial Foundation

In the past I didn't focus on money, as long as I had enough to get by that was it.  I had no interest in it. Strange as it is one of the foundations of modern living, and that is just the way it is. Sometimes in life we have these moments when after ignoring something important for so long we experience a painful insight and that was me and my thousands of pounds worth of debt I had accrued that I needed to wise up and sort out. 

Of-course I had no idea how that was going to happen! On my way out of debt, I made mistakes and learned from them, I kept going though that was probably the single best thing I did at the time as I didn't have the knowledge I have now. That knowledge would have made it much easier on me. 

Back then I never thought in my wildest dreams I would spend time supporting people with money issues. What I have learned is that we need to be financially literate but that is not the whole story. A huge part of the problem is negative mind-set and bad habits that cause us to make bad decisions. And there are also situations that are out of our control that put us into debt too. So there is no judgement here.

Learning how to manage our money, exploring our mind-set and habits can put us on to a better path and create a solid financial foundation. It is not necessarily about the size of your income, though that helps, as long as there are good habits in place. You can still make positive changes on a small budget. So the point of this, don’t let your money situation put you off doing something about debt, saving for your future and know that once systems are in place you can get on with what you want to do in life. 

And who knows you may even get to enjoy your relationship with money!  Seriously.  Learn to have fun with money and also get results over time and invest in yourself and your future.  The earlier in life you start the better .  Make it part of your overall goal to live your best life.

In the meantime get an emergency fund started and pay into it every week or month .  Make it automatic, on the day you get paid, even a small amount over time, will make a big difference.  Be consistent.  And don't touch it unless there is an emergency.  What is an emergency fund? Check it out at Money Advice  Service:

https://www.moneyadviceservice.org.uk/en/articles/emergency-savings-how-much-is-enough

Saving into an emergency fund will give you flexibility when the unexpected happens and sets up a positive saving habit and combined with tackling consumer debt are good financial foundations.

Call us now if you want to learn more about creating and maintaining a solid financial foundation email info@bgr8training.co.uk or click here