5 Strategies To Adopt This Financial Year

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We know you’ve read these types of articles before; a list of general tips that you will never action – so we’re not going to do that. Instead, we’re going to cut the nonsense and avoid hypothetical solutions, by giving you strategies you can put into place right now. Strategies you can and will stick to.

As you read through each strategy, we recommend planning the time and day you will action them. You can either jot down notes in your diary, set an alarm on your phone, or enter a calendar reminder. Either way, ensure you schedule a suitable time to action your plan of attack.


5 Strategies To Adopt This Financial Year

  1. Set your main short-term goal

Do you remember the regret you felt last financial year, the realisation of not reaching your goals? If so, begin to ask yourself now, what is the ultimate goal I want to achieve this financial year? Is it a savings target? Is it to acquire a certain number of clients? Is it to fund your child’s tuition and to afford that luxury holiday?

The secret is to identify one main goal for the year and truly focus on it. You may have several goals which you would like to achieve, however, when you spread yourself too thin, the reality is little to nothing gets done. Once you have reached your first goal, then you can move on to the next.

Have you written your short-term goal down? Do it now.


  1. Find your A-team

You may manage your business (and general life) well, but no one can get you maximum results quite like the experts. It’s important to find a trusted team of advisors who will help you reach your goals, who keep up with industry updates and take care of aspects of your life/business while you focus on other things. This includes finding the right financial advisor, accountant, solicitor and business partners. Find the professionals who understand you, your business and your goals.

When are you going to call your advisory team? 9am tomorrow? Next Monday? Put that calendar reminder in.


  1. Learn where your money goes

If you have a good advisory team to guide you, this step should already be in place. However, we can all do a little better at personally managing our money and planning for the future.

Keep note of everything you spend for an entire fortnight. At the end of the fortnight, identify where there could be pull backs in expenses, or in some cases, where you could be putting a little more money into. You will notice patterns and habits you have picked up over time:

  • Are expensive mid-week lunches letting you down?
  • Are you being too strict and not allowing yourself some guilt-free spending from time to time?
  • Do you take care of essentials first?
  • Are you a savvy shopper?
  • Could you switch to a more cost-effective health insurance plan?

Start your fortnightly expense list NOW. Take out your phone and jot down everything you have spent today while it’s still fresh in your head.


  1. Identify your long-term goals

Earlier we told you to set a short term goal you want to achieve this financial year. Now it’s time to look further into the future; where do you see yourself in 5-10 years? Have you paid off your mortgage? Have you bought a retirement holiday home? Do you have financial freedom? Goal setting and clarification always delivers the best results, so make your objectives attainable, specific and timely.

Now your long-term goal has been have identified, put a small, routinely, automated action in place that will gradually move you closer to achieving that goal. Whether that be a weekly automated transaction to your savings account, a monthly reminder to review your business objectives, or paying a little extra toward your mortgage every six months. Keeping this action automated means you won’t forget or drop this habit. Each time you will be taking small steps to achieving that long-term goal now.


  1. Understand your finances

This is something many of us are guilty of. Even if you have a team of professional advisors in place to assist you with your finances, you may not understand the extent of their processes, or how and why they do things the way they do.

While it’s great you have taken the initiative to get your professional A-team in place, it’s important to get involved, take their advice on board and discuss any questions or ideas you may have. The more engrossed you are in their suggestions and direction, the better financial position you will find yourself in.

Forget the reminder – if you have time to read this article, you have time to write up a quick email and book in an appointment with your advisory team now.

Dane Jansen
Dane is a Managing Partner/Responsible Manager at Positive Dynamics. He embraces his leadership skills to provide guidance to his clients giving them the confidence and conviction to achieve financial success.
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