It's all about spending!

We are financial planners, that’s our job and hopefully it comes as no surprise when we say we take it very seriously.

As you have likely heard us say many times before, we advocate saving money, investing that money, and taking a long-term view when it comes to your financial world. The simple reality is that it’s only with long-term planning that you will be able to achieve the results you need to provide you with an income when you one day stop working and earning an income.

And let’s be totally honest, that’s the goal! One day we all want to be able to wake up with enough money to be able to confidently choose to stop working AND be able to maintain the lifestyle we enjoy.

Sadly, the reality is not that for most Australians. The reality is that most Australians retire poorer than they should and therefore have to reduce their lifestyle at retirement, right at the moment they have all the time in the world.

We imagine you think we’re about to tell you that you have to save every cent you can. We’re certainly not going to do that because at the other end of the spectrum are those people who spend decades of their lives saving and planning for retirement, only to pass away before they get to enjoy their retirement (or shortly after they retire).

We are not endorsing reckless spending or crazy frugality. We think it is important that you know that we are huge advocates of spending money now. What we all need is to balance long-term financial planning with spending money now on having fun, investing in life and experiences that you can share with the people you love. After all, life is for living!

So how do you do that? How do you balance today with tomorrow? You just need a little bit of all the key ingredients.

The most important ingredient is just knowing what money comes in and what money goes out. We know that sounds simplistic, but the most important piece of financial advice we can ever give you is to develop a conscious spending plan and that’s why it’s front and centre in the Money Plan we give you, which you can find (and download) within the Wages to Wealth program.

Note we haven’t called it a savings plan. That’s because it’s not a savings plan. It’s all about spending your money! The key here is spending in a way that ensures you can keep spending through all the stages of your life, not just now.

Here’s the good news… you are the boss of your conscious spending plan. That might sound a little scary, but the only way to find out is to get your hands a little dirty. Having a conscious spending plan is THE MOST IMPORTANT aspect to financial success and yet it’s the part of the recipe that almost everyone chooses to ignore.

Once you are fully conscious of what is happening with your money, it then becomes that much easier to add all the other ingredients of financial success into the mix.

We are confident that if you invest some time into creating awareness as to how you spend your money, then ensure your spending is balanced and focused on what’s most important in your life, you will be well on your way to smart and sensible spending that allows you to live life now whilst planning for later life.

Happy spending!

Cheers,

Dan and Dave