Holidays can very often prompt a desire for life changes ranging from a commitment to changing bad habits to major changes such as a career change, geographic relocation or change in relationship status. No doubt these changes stem from the opportunities holidays give to reflect on life and happiness. Turning the desire for change into reality is not always easy. After all, there are bills to pay and responsibilities to others to be considered. A few weeks back at work is usually enough for the dreams to fade and resignation to set in. Successfully making a fresh start in life requires a few essential steps. Start by being really clear about how you want your life to be. A useful technique for getting clarity is to tap into your imagination and write a page of notes describing a typical day in your new life as if you are living it now. Making a new life means having the courage to let go of the past. To make a fundamental change you may need to sell your house or your business, give up your job and your salary, and perhaps let go of friendships. These changes can involve significant financial and emotional risk. Cover off the financial risks of change by preparing a detailed budget. Consider strategies for additional sources of income or for raising cash through selling assets or borrowing. Have a backup plan to cover areas of risk, and set limits on how much you are willing to risk so that if things don’t turn out as planned, you have sufficient resources to try a different approach. During the transition, stay focussed on your vision. Imagine yourself living the life of your dreams because your imagination will produce the energy and creativity you need to bring it into reality.
The latest Government budget had something for everyone but while most households will be a few dollars a week better off, there are some clear winners and losers. In the winners’ corner are businesses, those on high incomes, and savers. The biggest losers are property investors who have built large portfolios financed partly by tax rebates.