I want to talk today about a “disease ” that can affect the middle and upper income earners. A disease that will rob you of living debt free. A disease that will rob you of a regular family holiday. A disease that will rob you of an enjoyable retirement. I am talking about the disease of financial complacency
 – it doesn’t usually affect those that are on low incomes because they have to watch every cent that comes into the household but for those of us that live quite comfortably, financial complacency can rob you of  a strong financial future.

So what is financial complacency? Let me give you some examples:

  • Never taking the time to read your bank statements or transaction histories
  • Going to the shop and handing over your card whether it be credit card or debit visa and walking away without having heard the amount that you just spent
  • Wanting a particular item and buying the first one you come across without shopping around
  • Knowing that you could do better with you home loan interest rates and not finding the time to do anything about it
  • Investing in something because all your friends are
  • When your superannuation statement comes through the post or on line , throwing it in a draw or idling it in the cloud without even reading it
  • Spending every cent that comes in

Do some of those sound familiar? I certainly am not standing in judgement because over the years I have been guilty of everyone of those complacent actions or inactions and I point them out because I believe everyone of us have the ability to have a strong financial future but it won’t be achieved unless we are purposeful…….We need to decide what it is we are trying to achieve

  • When do we want to have the mortgage paid off
  • How much do we want to be able to save out of every pay
  • How often do we want to go on holiday
  • How generous with others do we want to be
  • What do we want our retirement to look like
  • Do we want to leave an inheritance for our children, grandchildren

All of these questions should be answered by you and no one else but if you don’t answer them then you are in danger of having a mortgage that goes on forever, never taking a holiday, struggling under the burden of debt and living on a government pension when you retire and having nothing to bless your children and grandchildren with.

Let’s talk about this over the next few weeks:)