How can you improve someone’s day?

 

Isn’t just thinking nice thoughts good enough?

It is generally easy enough to think nice thoughts about other people (it is actually easiest to criticise, but that is a topic for another day).

You may have noticed over the years, that very few people are telepathic, they cannot read our minds.  If the FBI cannot find a source of telepathic people to be agents, it is unlikely that the people we  meet day to day will have such skills. Continue reading “How can you improve someone’s day?”

How to cope with the stress of money

How bad can the stress of money get?

Aside from low esteem, lack of self worth, depression, PTSD and suffering from workplace bullying, another key factor which led my friend Del to die by suicide in 2013 was the stress of the financial future.  Worried that his illness could cost him his job, he could see no way forwards, no way to protect and provide for his family, and no outlook which seemed possible.  Tragically, I only knew of this after he died.

Who is there to help?

Had Del sought professional financial help instead of suffering quietly, allowing the stories of worry to spin out of control, without doubt we could have found a way to change his perspective, and work together to build a way forward.  Instead, he came up with his own financial plan, to protect his family’s financial future by choosing to die by suicide, relieving his own suffering and in his eyes, helping them.

Picking up the pieces, and working with Del’s wife Nel, we have been able to help, to give her purpose, and to bring a little sparkle back into her eyes at times, and that is the most worthwhile aspect of being a financial life planner.

Where-ever you are,  here are 6 stressful money situations highlighted by Business Insider which may seem difficult to avoid, yet are never the end of the road – there is always a way forwards …

How to deal with a financial emergency 

If you do not have capital saved, make sure you have an emergency credit card to fall back on.  This is a temporary solution, but will give you enough time to seek proper advice, and make a plan to move forwards.

Worrying about buying a home

Here is a stress-pit of worry.  How much should you borrow? Should you borrow as much as possible? Should you use all your savings? What protection should you have?

The questions are endless, yet can be answered if some proper planning and modelling is carried out.

 

How much should I save for retirement?

No two people are the same, there is no magic number which fits everyone.

Only when you know what you would value in retirement, can you start to figure out what you may need money-wise.

This is the importance of financial life planning – an approach which puts your life at the centre of the plan, not the monetary values.  You may be surprised, the qualities in life which you want may not required huge sums of money at all.

 

When should I retire?

Just like above, no two people are the same.

If you have a range of plans and ideas which need you to be fit and healthy, maybe you need to retire sooner.  If you love what you do, but can start to find a great balance between that and leisure, then there may be no reason to rush into it.

Either way, discussing a planning it is essential.

 

How much money should I give my children?

It’s hard to say no, and at the same time, many of us would rather see our children not have to struggle.

Making it too easy may not be a good thing, but saving it all up until you die – that too has it’s own perils.

Whatever you do, by adopting a balanced plan, and sensible approach, you could be able to help your children along, and at the same time, helping them value what they are given.

Above all, don’t deprive yourself of the fun you deserve later in life (but also, don’t aim to be the richest person in the cemetery).

 

How can I help my parents with their finances?

One of the trickiest conversations of all is talking about your parent’s money.

Naturally cagey, they may not want to volunteer the information (and is is hard to not look as if you are interested in an inheritance, particularly if they are unwell). Bring siblings into the conversation, and start the discussions well ahead of time to figure out what sources may be available for long term care funding, and of course, what wishes they have.  In the same way that you want to enjoy your life, they should be focussing on their days being as comfortable as possible, not scrimping and saving and trying to get one over on the local authority by not paying for care (saving the fees, but ending up in a grotty care home).

What to do next?

By proper planning, and discussing these issues with a professional, there is a chance that many of the most stressful money situations can either be avoided, or at least eased.

Please, please do not let them spin out of control stories in your head.  Ask for help, get a reality check, and let someone guide you onwards.

Find someone who speaks your language, who keeps things simple, and are focussed on you.  Financial decisions are hard enough to make at the best of times, never mind when you have huge levels of stress and worry to cope with.

 

 

How bad is commuting for your mental health?

Many of us acknowledge that the journey to work is a real drag, that arduous commute, changing from 1st gear to 2nd, or jammed into a stuffy bus or tube train.  That is no way to make you feel uplifted and positive about the day to come – far from it!

How has commuting changed?

According to research by the University of West of England (analysing 26,000 people over 5 years), not only has the commute time increased by 25%, but 1 in 7 spend more than 2 hours commuting every day – that is 10 hours a week!

What is the impact of commuting on your mental health

An increase in stress and worsening of mental health for workers (not to mention the impact that then has on their families).  There are of course only 24 hours in each day – so choosing how to spend them is a very important task indeed. Continue reading “How bad is commuting for your mental health?”

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”

What is a financial life plan ?

Here is a questions often asked – what is a financial life plan, and why would I need that as opposed to a financial plan?  

More and more consumers are understanding that there is a difference between the old way of financial advice (selling as many products as possible) and financial planning (where recommendations are able to demonstrate that they are relevant and appropriate for the long term).

So where is Financial Life Planning different? Continue reading “What is a financial life plan ?”

Is the financial advice experience negative or positive?

A question I have been mulling over – ‘is financial advice negative or positive’ – or is it aimed to create negative feelings, then solve them with overly positive predictions or scenarios, or actually, should it be to create positive feelings, then stay sensibly grounded, aware of what could happen (negative scenarios)? Continue reading “Is the financial advice experience negative or positive?”

Can you recognise the vicious cycle of money worries?

There is a vicious cycle combining money and mental health  – quite simply, worrying (about money in this case) makes mental health worse, and poor mental health, makes managing (money in this instance) harder.

Although we are taking money as the example here, the example can be extended to many areas – just substitute money for ‘work’, ‘relationships’, ‘health’  and many more.  In particular though, the money cycle is one which can have a self-destructive path which is far more challenging to escape from. Continue reading “Can you recognise the vicious cycle of money worries?”