You are currently browsing the category archive for the ‘Financial Coaching’ category.
“The past cannot be changed. The future is yet in your power.” – Hugh White
Today I’m blogging from New York City and what better back drop than this to remind ourselves that it’s not what happened in the past that should guide us. This is a place that thrives on what’s going on right now and what is yet to come – the possibilities of tomorrow. Viktor Hugo once said “He, who every morning plans the transactions of the day, and follows the plan carries a thread that will guide him through a labyrinth of the most busy life”
Everyone has a future – choose to plan yours. Think about th following when you start the day today and every day:
“If you could do anything now, with the life you have in front of you, what would it be?”
How do you take into account your WHOLE life situation when trying to live on a budget…? Start with the 12 steps of the budgeting process:
1. Understand income – where is it coming from, when, and how reguarly
2. Understand expenses – where it goes, when, and how much
3. Set goals – long and short term
4. Understand habits – understand how you and your family handle money and COMMUNICATE
5. Get savings and spending mechanisms in place – establish savings accounts, retirement plans, direct deposits, and special credit cardd to manage individual and family “allowances”
6. Plan income – next month and next 12 months
7. Plan obligations – schedule “must expenses”
8. Plans necessities – estimate necessary items like food and utilities
9. Set aside pocket money – decide on a number for each family member and allow ATM withdrawals to that amount.
10. Plan family allowances – family entertainment, home improvement projects etc. Use a separate credit card for these to better track expenses
11. Plan personal allowances – establish an amount each family member can spend, no questions asked
12. Balance and rebalance – make necessary adjustments and cuts to balance your budget
Stay disciplined and committed by rewarding yourself and family members for good performance and progress toward goals set.
The most important part of setting up your budget based on an holistic approach is to realize that life begins NOW. One of the most limiting beliefs that many of us have is that the person we were yesterday is the person we have to be today…This belief keeps us tied to our past mistakes, habits, and limitations. Your present-moment energy is all you need. The past has no power other than the power we give it…
So, don’t let the past dictate your budget. Your life, your Financial life, is a series of present moments to be experienced, one after another. Yes, your past was important because it was needed to get you into the present. But the past is like the wake – the water left behind when a boat travels on the ocean. It forms a shape BEHIND the boat until it disappears into nothingness. Can the wake drive the boat? Of course not! All of the power of the boat comes from the present-moment energy of the engine. Nothing else.
The past has no power other than the power we give…the PRESENT is just that – a “present”, a gift, to us. It may be helpful to get some professional help – check out my website for more information about how a Financial Coach can help you get started!
It’s no surprise, nor a secret, that EQ (Emotional Intelligence) is critical to your success. That’s true to your personal success as well as your professional success, be it in your Relationship, Personal Development, Quality of Life, Well Being, Finances and Career. It’s also interesting to compare us as a nation to our main competitor and trading partner in the world, China. In an Emotional Intelligence Appraisal test sample of 3000 from both public and private sectores in China and USA, American executives averaged 15 EQ points lower (a rather big discrepancy…) than Chinese executives in Self Awareness, Self Management, Social Awareness and Relationship Management.
With 90% of top performers high in EQ, and EQ twice as important as IQ in getting where you want to go in life, who can afford to ignore it?
ThinkLars – Everyone has a future, choose to plan yours.
Spend 20 minutes to find out what’s really important to you. This consultation is FREE and is conducted during a 20 minute telephone or Skype video chatting session at a time convenient for you! What do you value the most? What is important about success to you? Together we will go over my Values Staircase and in 20 minutes you’ll know a lot more about your Values and what really matters to you. After our conversation I will email you your very own Success Road Map. You are under no obligation to buy anything. If you find it helpful to have someone by your side coaching you to focus on what you really want and outlining your goals and actions, we will continue our conversations over the phone, Skype video chatting or in person once a week to plan and review, give you support and guidance in the areas that you want to work on most. Don’t take my word for it—visit the testimonials page and find out for yourself what others say about my services and how it has helped them!
What do you have to lose?
