Welcome To The Course, Mastering Money The S.M.A.R.T Way Without Working Any Harder!
Lesson #1
Introduction
And Course Overview
Do you
struggle with money?
Do you
worry about money?
Do you
have arguments with your partner over money issues?
Do you
have loans or credit card debt and struggle to keep up the payments?
If you
have answered “yes” to any of the above questions, this is definitely
the course for you.
How To Master
Your Money The S.M.A.R.T Way
Congratulations on taking the first step to taking back control of
your finances and life!
My name is Charles Kelly, and I am the author of three books and
the creator of the Money Tips podcast which has over 200 episodes. As a
qualified financial adviser, I spent 25 years working for banks, insurance
companies and running my own business, as well as investing in property and the
stock market.
This course is about personal finance and money, not
global economics. It’s about managing your internal economy, or what I call
your ‘U’conomy’, rather than worrying about what’s going on in the
external world of global markets, national debt, recessions and the daily
crisis you see on the news.
Focus on your economy and what you can control.
In every town, there are people who are doing well and there are
those who are struggling – even when they are in the same business.
During recessions and depressions, boom or bust, people build
fortunes, while others fail.
It’s not about the economy, the government or where you live.
It’s about you!
It’s about what you do and what’s going on in your head that
really counts.
We live in the most prosperous time in 7,000 years of recorded
history. There has never been a better time to learn, start a business, build a
career and live the life you truly deserve.
The things you learn and habits you form in this course will
change your life and last a lifetime – if you follow the action steps.
By the end of this course, you will have learned how to Master
Your Money and become S.M.A.R.T Money Manager. Using this simple management
system will help you to:
·
Spend wisely and avoid debt
·
Manage and respect your money
·
Accumulate wealth over time
·
Review your finances on a regular basis
·
Track your income and expenditure
SMART
Money System
Have you ever said “I don’t know where it all goes”?
Millions
of people who live their lives in poverty and debt. People go to work for
forty, fifty, and even sixty-hours a week and bring home a pay cheque. After
all that effort, by they have paid their bills, debt repayments and the family
is fed, there is nothing left.
This pattern
of behaviour can go on for years or a lifetime unless the habit is broken.
Inbuilt behavioural patterns can only be interrupted by an awakening, attending
a course or reading a book, or by a traumatic lifechanging event, such as
bankruptcy, bailiffs towing away your car or repossessing your home.
Sometimes,
we need to reach rock bottom in order to break a harmful addictive habit.
Spending money you don’t have on toys using expensive debt can be just as
damaging as a gambling addiction. When the reality of bad debt finally catches
up, it can destroy your life and the lives of those around you.
“Fast
credit” should be called “fast debt”.
Credit card companies and banks,
feed you the candy of easy credit like a drug dealer.
They send you letters offering
credit limits you cannot afford, and increase them when you reach those limits!
You can juggle your debts with
interest free (but not fee free) offers or consolidate your bills into “one
easy payment” instead of a lot of small ones, but all this does is delay the
inevitable. You need a lifestyle change starting with your spending.
“A penny saved is a penny earned”.
Benjamin Franklin
It’s
not how much you’ve got, but how you use it.
Don’t
make the mistake of believing that it’s all about how much you earn. In my
years working as a financial adviser, I met hundreds of clients earning huge
salaries who were still broke and overdrawn every month.
When I
worked for a leading bank, one of our customers was a trader in the City of
London. He was earning at least ten times the average income, plus he received
an extremely generous quarterly bonus of around £40,000. Unbelievably, his
account was so overdrawn by the end of each quarter that all of his bonus was
needed to clear it. That was in addition to the various ‘gold’ credit card
debts and personal loans for luxury goods.
Banks
love customers who spend and borrow, as long as they keep up the repayments.
They are not too keen on customers who pay off their credit card balance in
full each month or repay their mortgages early by accelerating the payments.
I
also had many clients earning modest salaries who lived a good life, yet also
saved a regular percentage of their income into pensions and savings. Some
bought investment properties with their spare cash or built-up substantial
stock and share portfolios. Managing and investing their money was their hobby.
One
particular lovely couple comes to mind.
I was
amazed to discover that they had saved over a quarter of a million pounds in
cash and stocks and shares. They paid off their mortgage early and helped their
Son buy his first house.
They
were the typical ‘millionaires next door’ with combined assets, when you
include the value of their final salary pension schemes, of more than a million
pounds, But you would never guess it because they did not act like the
stereotypical “millionaire”.
Best
of all, they were happy and looked a lot less stressed than my city
trader client who always seemed to be under pressure. Unlike the trader, they
were in control of their finances.
Control
of finances is part of control of life.
Being
in control and giving back are also key factors in feeling happy.
These
are exactly the type of people I meet at Rotary Clubs, church groups or those
helping out with community and charity work in their spare time. Giving back is
not just virtuous, it also contributes to your own emotional wellbeing. I’m
sure that it is no coincidence that everyone I know who has money, gives back
their time and money. Which came first?
I
explore giving back and the studies into ‘millionaires next door’, in more
depth my book, Yes Money Can Buy You Happiness.
|
MONEY TIP Keep a spreadsheet, or use one of the many app’s, to record how
much comes in from salary or investments and exactly where the money goes.
You’ll be amazed at the results. If you found this Money Tip useful, check out my blog at www.moneytipsdaily.com |
Action Steps
Starting
today, make it your business to become a SMART MONEY MANAGER and you
will start to see your fortunes turn around and you will find peace of mind. In
fact, 99% of your money worries will evaporate, because the root of everyone’s
financial worries can be traced to the following 5 SMART rules.
SMART MONEY MANAGERS:
S.
Spend wisely and avoid expensive consumer debt
M.
Manage and respect their money, making informed investment decisions.
A.
Accumulate wealth over time taking the long-term perspective
R.
Review their finances on a regular basis and make appropriate changes
T.
Track their income and expenditure on a daily or weekly basis
Thank you for
listening. In the next lesson, we will go into spending wisely and how to avoid
expensive consumer debt.
If
you enjoyed this and found it helpful, please like and share with your friends
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Would
you like to learn how to become financially free without working any harder and
spending your life exchanging your time for money watch this free on demand training now to learn how to become financially
free without working any harder.
As
a thank you, I will give a special free gift which can help transform your
finances when you attend the online training.
Click on this
link to watch the free training now https://bit.ly/3wLWqx2
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