Financial Goals

Here are a few tips from Paul Clitheroe, in his book "Making Money". He writes 10 steps to financial security are:

1. Have a plan -- Write down you goals, objctives, your budget, your current financial position, and other important facts. Note - You will only achieve your objectives by spending less than you earn.
2. Budget and take control of your money. It's not what you earn that matters -- it's how much you spend.
3. Save little -- Save often. It's the commitment to regular savings that makes the difference.
4. Avoid punting and silly risks -- If it looks too good to be true -- it is.
5. Don't plan to save cash -- have savings automatically locked away before you spend them.
6. Plan to own a home debt free.
7. Super is good -- invest in it. As part of a long term plan, super makes sense.
8. Minimize tax -- legally! Don't illegally evade tax. And, tax should not drive your decisions. Focus on investment returns rather than on tax benefits.
9. Protect assets -- insure yourself as well as your home, contents, car and other valuables.
10. Take advice if you need it. Work in partnership with a good financial advisor for assistance, but remember ultimately it's your money, and you are responsible.

Paul Clitheroe's book is an easy read and covers some great basic tips around money. There is a lot more information to each of the points briefly mentioned above. Other recommended books for the financial area are: "Rich Dad, Poor Dad" by Robert Kiyosaki; "Born Rich" by Bob Proctor; "Think and Grow Rich" by Napoleon Hill.

Written by Barbara Anderson.

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