Are You Money Smart?

Understanding money and finances in order to make informed and effective financial decisions is an essential skill in today’s world. I regularly see in the field of insolvency and business recovery the adverse impacts of excessive spending and not having plans and budgets in place. Simply it can lead to financial difficulty if left unchecked. Financial literacy is something that is much talked about, yet not well embraced in many SMEs and family households – this is despite all of the technology and other platforms to assist us!
Money Smart week runs from 1 – 7 September inclusive. More information about it can be obtained from the links below. Check out the “credit quiz” and “budget planner” resources.

Happy planning.

Why now is the time for businesses and individuals to pursue their dream, create, innovate and succeed?

To quote Warren Buffett “Be fearful when everyone is being greedy and be greedy when everyone is being fearful.”
Across the board bankruptcies fell by a massive 25.14% compared to the June 2013 quarter, this drop was only partially offset by a rise in debt agreements leaving the total personal activity recorder over the June 2014 quarter at its lowest level since the June quarter in 1995.

Such a drop in bankruptcy statistics would normally result in calls for joy from the market in general as an indication that the economy is returning to a more optimistic and buoyant state. However, anecdotally it appears that the decrease in bankruptcy numbers also reflects a tightening in banks lending and a decrease in consumer appetite for risk and credit.

We all know about the negatives that come with too much risk and consumer credit, however, little attention is given to the positives, i.e. innovation, creation and motivation. All of which don’t appear to be spectacular despite the fall in insolvency activity as individuals gear their personal economy and spending decisions to avoid problems as opposed to considering the glass half full and taking risks to create wealth and opportunities.

Why I am up?

Because statistics are saying the economy is sitting pretty well but people are still afraid. For example the house price to household income ratios have gone below the 3.5 multiplier and look like decreasing further, insolvencies are down (see above) and economic growth whilst low appears to be stabilizing and everyone around me (not just the insolvency people) are still talking down the economy.


Now is the time to follow your dream because instead of being competition your potential competitors are just sitting on their hands afraid.

Don’t just concentrate on protecting you downside. Focus on the upside, focus on revenue, focus on profit, create, sell, prosper and live your dream!