Small Steps to Financial Success

Read More

Small StepsSmall Steps to Financial Success

It’s great to have big, audacious goals to achieve. Perhaps you want to retire early, become financially free, or become a multi-millionaire. To achieve big goals, you have do things differently than you have done them before. However, finding the confidence to take a big leap out of your comfort zone is not easy. Big goals can seem unachievable at first, as well as scary, so a good plan is to take small steps initially rather than a giant leap. Small steps successfully achieved give you a sense of making progress while building your confidence to make changes.

Clarify your starting point

You can’t achieve a goal without knowing where you are starting from. It’s no different than taking a road trip. If your destination is Whitianga, the route you take, and the time you take to get there, will be different depending on whether you are starting out in Auckland, Wellington or Christchurch. Take stock of your current situation including your assets, debts and income and then develop your strategy.

Make one small change at a time

Set up a regular payment into a savings account, even if it is just a small amount. Review your KiwiSaver fund. Investigate ways to increase your income. Research investment opportunities. Doing something every day to take you towards your goals can add up to big progress over time.

Track your progress

What gets measured gets done! A simple way to achieve your goals is to create an image you can use to mark your progress. For example, if you want to reduce debt, draw a flower with a number of petals each of which represents a unit of debt ($100, $1,000 or $10,000). As you pay off each unit of debt, colour in a petal so you finish with a beautiful flower.

Related Articles

Economy
Liz Koh

Budget Winners and Losers

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.

Read More »

Top Up or Miss Out

The end of June is an important date for KiwiSaver members. The financial year for KiwiSaver runs from 1 July 2009 to 30 June 2010 and if you have contributed at least $1,040 to KiwiSaver during that time, you will be eligible for the full amount of Government tax credit to be paid into your KiwiSaver account in July.

Read More »

Responsible Investing

There is a worldwide trend for investors to want to make a positive contribution to the world by investing in companies that are socially and environmentally responsible. If you are passionate about the effects of climate change, the scarcity of food and water, and social or environmental policies in general, then you will no doubt wish to ensure that the companies in which you invest are going about their business in a manner that is consistent with your views.

Read More »

Helping You Live your retirement To the Max

Keep in touch

Fill in your details and we’ll get back to you in no time.