Keeping up the motivation

It's not just about the money.

Leading a fulfilling life is about much more than making money. Money is a means to an end. The challenge for many is deciding what the "ends" are.

I often get goals like "be financially secure", "be financially independant" etc.

Goal setting is about determining measurable targets that meet the overall objective. Therefore, what does financially secure mean to you - being able to pay the bills comfortably or is it more than that.

I often discuss the concept of Maslow's Heirarchy of needs with my clients.

It is bascially this, most important needs to most preferred needs:

Physiological needs - Hunger, Thirst
Safety Needs - Security and Protection
Social Needs - Sense of Belonging, the need to be needed, contributing to society and Love
Esteem Needs - Self Esteem, Recognition and Status
Self Actualisation - Self Fulfillment, inner peace etc

The issue for many in Australia is that the first and second level are covered at basic levels, therefore then it gets into the more "touchy / feelly" areas of life that aren't as easy to quantify. There's the keeping up with the Jones's which doesn't necessarily bring you happiness it might just load on added pressure to overwork and underplay.

I challenge you to take a contemplative hour and consider what is really important to you, try to quantify it and then determine a pathway to achieving it.

Regards

Damian Ebzery B.Bus M.Bus (Prof Acc) AFPA ASA

The shame file

In speaking to a number of financial planning clients lately I have found that one of their biggests issues on entering into an advice relationship is laying out their financial and related situation for us to assess and make recommendations on.

What we find is that most people seek advice when they are in some sort of bind, rarely just because they want to do better and achieve more. Therefore, this generally means that they are "owning up" to their situation there are pride and related pshychological issues to be dealt with.

I implore potential advice seekers to not be ashamed or afraid of being honest and saying "we want to do better". Whether in business, at work or personally our egos can often hinder us reaching our true potential in life. We can always learn something new to assist us in doing better.

The only dumb question is the one not asked.

Seize the day, achieve more out of life.

Regards

Damian Ebzery B,Bus M.Bus (Prof Acc) AFPA ASA