Should I pay off my mortgage before I start investing?

Written by Lisa Dudson Rock Your Life Global Sage www.acumen.co.nz

This is a highly debated topic in the financial community, with some people for the idea and others against it. I personally think it depends. That’s not an overly helpful answer so let’s look at why….

From a purely financial or technical perspective you are usually better off paying your mortgage off before you start a savings or investment programme. This is because you pay your mortgage with money you earn after tax. Therefore being better off financially by investing you need to earn a return of approximately 10-12% gross per annum (about 7-8% after tax) depending on your personal tax rate. There are not many investments that will produce this level of return unless you take on a reasonable amount of risk and/or know what you are doing.

Confessions of a shopaholic

Written by Lisa Dudson Rock Your Life Global Sage www.acumen.co.nz

On the weekend I watched the movie Confessions of a Shopaholic which has been out a year or two. I suppose you would call it a chick flick. Although it is a quiet an entertaining comedy it also has a serious side. Its about a women who is addicted to shopping and is heavily in debt. Her life revolves around shopping and trying to keep the debt collectors from the door to the point where she keeps a list of all the excuses she has used to explain why she hasn’t paid so she doesn’t use the same excuse twice.

How do you invest in the sharemarket?

Written by Lisa Dudson Rock Your Life Global Sage www.acumen.co.nz

Investing in the sharemarket can be a great way to get ahead financially.  However like all investment options there are many things to learn and be aware of.

Sharemarkets go through various cycles, periods of strong growth, periods no growth and even some with negative growth. If you are a passive investor the longer you invest the better and ideally you would need to allow a timeframe of at least 5-10 years to ensure you have enough time to average out the market cycles.

Stop thinking about money!

Written by Lisa Dudson Rock Your Life Global Sage www.acumen.co.nz

It’s the easiest way to make it.

Dwelling, worrying, planning, fretting, pacing, exhausting – these are some of the many words that come to mind when some people think about money too much. You plan, then you plan some more, then you think about hypothetical situations, then perhaps you rehash the idea, then you think about it some more – meanwhile, you make no money.

People have a lot of ideas, in fact, everyone has ideas. Everyone has thoughts about money, and what it would take for them to live off internet income, or doing what they love while making money. They calculate how much it would take if they decided to do it… then they recalculate, and think about it some more, meanwhile doing nothing.

How do I make my new years resolutions work?

Written by Lisa Dudson Rock Your Life Global Sage www.moneyblog.co.nz

After having some time off over xmas many of us start thinking about what we want to achieve over the coming year. However as the year moves on our new years resolutions often disappear into the ether, never to be seen again…or until next new years! So how do you increase your success rate?

Control the network, Control everything

So how do you become uber-wealthy?

Maybe it’s not money you are after – maybe its simply power, the ability to get your service out there, maybe its distribution you need, maybe its all for the common good and not about ruling the world. The answer is:

Control the network: Control everything.

This has been the plan of the wealthy for a long long time. You may not realise this but when Hughes De Payan and his nine knights discovered the king making secret under the temple of Jerusalem in 1120 (Previously Solomons Temple) it started a faction of the most powerful people on the planet. In the mid 12th century the Knights Templar had created the first global banking system and technically the first credit card, although it was missing the magnetic swipe part, invented in 1960 by Forrest Parry an IBM engineer.

The Law of Accumulation

Written by Lisa Dudson Rock Your Life Global Sage www.moneyblog.co.nz

Brian Tracey, a US based author and speaker, has always been one of my favourites.  In my opinion, he has written some of the best books on goal setting.  His Law of Accumulation provides some great guidelines for improving your financial situation.

1. Develop Discipline
The achievement of financial independence will require a tremendous number of small efforts on your part. To begin the process of accumulation, you must be disciplined and persistent.  You must keep at it for a long, long time.  Initially, you will see very little change or difference.  But gradually, your efforts will begin to bear fruit.  You will begin to pull ahead of your peers. Your finances will improve and your debts will disappear.  Your bank account will grow and your whole life will improve.

Getting Yourself Financially Fit

Written by Lisa Dudson – www.moneytv.co.nz

What is the first thing I should do when starting to plan my financial future?

In order to plan your financial future and control your finances effectively, the first thing you need to do is establish your starting point.  How do you do that?   You need to work out what your nett worth is.   A Net Worth Statement is a snapshot of your current financial situation, and will give you important clues about where you should concentrate your financial planning efforts.  

Fifteen Ways to Tell if You Have Too Much Debt

Written by Lisa Dudson  www.moneytv.co.nz

Could you survive without your next pay check? If you’re not sure of the answer, you need to assess your budget now. Not being able to survive a missed pay check is just one warning sign you may be heading for financial trouble. Most of us think we’re financially stable, or at least able.

Derived from numerous information sources, you consider the following practices of people dangerously close to financial instability to make sure you’re not heading that way.