Category: Family

What should I teach my children about money ?

‘Parenting & finance’, ‘pocket money’, ‘treats’, ‘can I have’, all things which crop up frequently once you have children.

You may think that children only hear and see what we want them to, however, how many times have you listened or watched them playing, and thought ‘oh my – that sounds just like me’ or even more shuddering sometimes ‘wow, they sound just like my parents’.

Where do our children learn their money habits ?

Most of us, and our children may have learned these lessons about money from our role models (Mum and Dad), and so the cycle goes on.   Continue reading “What should I teach my children about money ?” →

How easy is it to save money?

Is saving money just like losing weight?

Well there is a question – and in short, yes – the principle is the same, and here is why…

How do most people go about losing weight?

Generally, people start by getting good idea of how heavy they are, figuring out where they want to get to, and start to monitor their progress. The progress is made by changes to behaviour, an approach of what is consumed, and how much energy is spent.

Is saving and weight loss just about will-power?

A disciplined approach to weight-loss is something many of us recognise, and in a way, is no different to how perhaps you should approach a disciplined structure to money management.

Discipline and structure is how to save

By figuring out how much money is needed to be saved, how the budget needs to be trimmed, or a particular financial focus is needed, you have the equivalent of a weight-loss goal.

Awareness of consumption is important

Follow this up with a mindful and intentional structure and monitoring of expenditure, the spending behaviour may well change (just like by eating apples instead of cakes for example). Less money is consumed (like less food), and perhaps less is spent (or at least spent in a more intentional manner).

Do I need a support group or mentor?

A sustained, monitored and coached approach is of huge benefit for many people with regards their finances in order to avoid the monetary equivalent of yo-yo dieting, yet it doesn’t seem to be widespread.  People happily spend over £4 a day on take away coffee, and another £6 on lunch, yet many would baulk at the idea of paying to be coached around their money.

Do people pay for financial coaching?

A good number of our Serenity clients around the UK, although they have accumulated wealth, may have done so by accident (through an inheritance perhaps, or even having it retained within their business), yet still need significant ongoing support and coaching to retain their understanding and reality of money. This is the value our clients find in our relationship with them – and that is what it is, a relationship with our clients, not their money.

Do I need investments to have financial coaching?

In fact, more and more people are now paying for financial planning, coaching and support and not even having investments in place.  Instead, they see the real value in changing their habits and being supported on a regular basis to keep them moving towards their goals.

That is what matters most – people arriving at their goals, and sustaining them.

Together we can bring some Serenity to your life

 

 

How to keep your routine going when travelling

How do I stop travel distorting my daily routine

It’s not easy building and developing a regular daily routine of eating well, caring for the body and mind, and generally looking after yourself.

Once you have established one however, travel, holidays or being in a different environment seem to take a swipe from the side, pushing you off track. Be it travelling to a different city for work (which if you do often enough, can then develop its own routine – such as finding a yoga session in a sleeper compartment on a train), a two week holiday, or a visit to friends or family, this disruption or disturbance can dramatically cause you to go off track, and potentially jeopardise the regular routine when you return to your normal environment.

How do I keep my routine when others don’t embrace it?

Perhaps the greatest challenge is staying with others who are not aligned with your own routine.

Does it appear unsociable to head off for a run, to lock yourself away to meditate, or to spend that 30 minutes a day focussing on the project you have committed to? Maybe in your own mind it does, but just think about the last time you had a guest to stay, and they took time out to spend some time on a task they are dedicated to (or turned down a slice of chocolate cake). How did that seem to you?

Will people be upset if I do my own thing?

Rather than being offended at your guest’s need for time, it is more likely that you admired their dedication, commitment and desire to move forward, and at the same time, opened up a great discussion about their routine.

Can I inspire others with my routine?

Rather than feel ashamed or uneasy of your regular routine when travelling, embrace the adapted version, be proud of it, explain it to others, and act as their inspiration to move themselves forwards.

 

Pension reviews – the new timeshare scandal

Even those of us in the profession get phone calls offering a free pension review (I have also been told that my investments have underperformed and I am entitled to compensation, my life cover was not advised properly, and my mortgage was not set up on the right rate) recently, I had this call which went like …

“Hello, I am from the pension review service, and we are phoning to give  you a free review of your pension as it is probably underperforming”. Continue reading “Pension reviews – the new timeshare scandal” →

6 Reasons Spending Time With Family is Important

It is all too easy to get caught up in the pursuit of career, work, hobbies, even obsessive about cleaning or just ‘stuff’ in general.  The downside of all of this, is that we miss those who are really the most important to us, those who we can be pretty confident will be there as we take our last breath. Continue reading “6 Reasons Spending Time With Family is Important” →

The cost of missing out on university

Can you imagine the cost of missing out on university ?

Now, I am not talking about a specialist role which needs a degree, but rather (as tends to be common) someone who has no particular direction, but thinks that uni will be a good option for a few years, because all their pals are going there.

The big question here is, are you willing to invest a huge amount of YOUR FUTURE money on the speculation that you may get a better outcome.  Let’s see… Continue reading “The cost of missing out on university” →

The Delicatessen v The Supermarket – where do you shop for your finances?

Think of the delicatessen, the smell of the meats, the allure of the cheeses, pots of olives, some fine pate and wine perhaps, a crusty artisan loaf.  I bet your mouth is watering already at the sights, sounds, aromas and feelings which arise!

The delicatessen, that wonderful experience where you leave with exactly what you wanted, just the right amount, tailored perfectly for your needs.  No waste, good quality, they have taken the time to talk to you, to understand what it is that you really want, making your luncheon or dinner party all the more special.  Your friends are amazed by the quality, you enjoy yourself, primarily, because you have no anxiety about the food on offer, no compromises, and none of the frantic behaviours which plague so many occasions.  What you have, is right for your party, and only your party, it is a bespoke meal, made to your wishes, and what is more, the experience of buying it was rather relaxed and jolly.

This is a far cry from what you may find in supermarkets, where, whilst there may be aisle upon aisle of choice, you have to build the meal yourself, asking yourself does everything really go with everything else? What about the quality? You can’t think, music pumping out, children hanging off shopping trolleys, CDs being sold alongside hedge trimmers, alongside muffins – SO MUCH INFORMATION NOISE. At last you reach the till, and then comes the Gerry Cottle Challenge of trying to juggle all of your shopping into the bags and trolley before the enthusiastic checkout person sends your goods crashing to the floor. Hardly the best way to set up a relaxing chilled our dinner party!

There really is no reason why your financial experiences should not be the same as shopping at the delicatessen as opposed to the supermarket. Continue reading “The Delicatessen v The Supermarket – where do you shop for your finances?” →