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

 

 

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 ?”

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?”

How to fix a terrible money habit in one month

At our ‘Serenity On Tour’ seminars (which spanned  the UK covering Cornwall, London, Lincoln and North Wales), one of the presenters asked these questions …

  1. How much money do you have on you right now?
  2. How much money did you spend last month?
  3. How much money will you spend next month?

Not many attendees knew the answer to the first question, less to the second, and less again to the third. The point behind the exercise, was that if you do not know what you are going to spend next month, then how on earth will you know what you will spend in retirement? Continue reading “How to fix a terrible money habit in one month”

The last taboo – talking about money…

What is the one thing you feel MOST uncomfortable talking about?

Have a think a moment, then write down a few ideas.

What did you come up with?

Perhaps you had some of these :  politics? religion? death? mental health? regrets? sexual orientation?

How about money? How comfortable would you really feel about talking to others openly about your finances – how much you earn, how much you owe, or how much is in your bank account? Continue reading “The last taboo – talking about money…”

Belief, focus, time management, health and ignorance – that’s all it takes…

You probably have great intentions to move forward with one thing or another, yet doubt creeps in, you get distracted, run out of time, don’t feel up to it, or spend so long gathering information, that the time has passed.

There are 5 key non-negotiable disciplines of high achievers.   Continue reading “Belief, focus, time management, health and ignorance – that’s all it takes…”

Are you a traveller or a tourist through life?

 

Very soon, your thoughts may well start to turn towards their holidays. Are you though a traveller or a tourist?

Travellers tend to enjoy everything, embrace the moment, experience, wonder, not over prepare or over complicate, and focus on enjoying the here and now.

Tourists however, tend to want to tick things off their lists, have to be over prepared, everything planned to perfection, collecting photos for Facebragging and deeply concerned with telling everyone else what a great time they are having – sometimes, to the detriment of their own real enjoyment. Continue reading “Are you a traveller or a tourist through life?”