The Best Handful of Tips 26 –
The sooner you start, the greater your chance to succeed. Here are some simple tips to help you reach your financial goals. It’s all about planning, hard work and self discipline.
The five best tips to achieve your financial goals
Set long-term financial goals
Review your plans regularly. Write them down and look at them from time to time.
Every year calculate your net worth and make any necessary changes.
Pay off debts as soon as possible
It’s easy to get into debt but hard to get out of it. Pay off your credit cards as soon as possible.
Manage your mortgage repayments carefully.
Develop a risk protection strategy
Cover your risks with life insurance, income protection, trauma cover and health insurance.
Travel insurance is essential when visiting foreign countries.
Get yourself a mentor or a good financial adviser
Make the most of other people’s experiences especially those who have had sound training in investing and accounting.
Build up your investment assets
Aim for a nest-egg for the times when you are not earning.
Spread your risks. “Don’t put all your eggs into one basket.”
Diversify into property, shares and compounding savings.
“Don’t forget its planning, discipline and hard work that is required.”
– Geoffrey Moss
“One of life’s great thrills is paying off that last instalment.”
SOURCE: “Secrets for Success. This book could change your life.” Moss Associates Ltd, New Zealand and Cengage Learning Asia. Also published as an e-book available from Amazon.com.