Financial stress is increasing. 85% of the workforce are now worrying about money and their personal finances. The banks are tightening their borrowing criteria so financial bailout and consolidation of current debt is becoming increasingly difficult. More than 60% of Australians are now experiencing financial stress.
What are the triggers of financial stress?
- Bad debt
- Home loan
- Supporting family
- Business debt
Minimizing Financial Stress
How Do We Influence Financial Behavioral Change For Customers?
FMG Wealth Strategists are coaching clients and influencing financial behavioral change in a layered approach over FIVE areas.
- Owning your own tomorrow (- not having the bank own you).
- Preparing for debt & getting out of debt sooner. Whether that be home loan, credit card debt, personal debts etc.
- Building savings and investments – Strategically and with a specific achievable plan.
- Preparation for supporting your family – extra costs and responsibilities. Child care, school fees, etc.
- Preparing for retirement – the big picture plan.
We see that being an influencer in financial behavioral change is one of our most important roles in helping people manage their finances. Now and in the future.
Do you need help making informed decisions to take control of your future?
Who do you turn to to assist you to make informed decisions in taking control of YOUR future?
Are you lacking financial confidence?
Avoiding major financial decisions?
Determined to get ahead financially?
Have children and finances starting to bite?
Have and investment property that is costing you too much?
Dreaming about future holidays?
Do you have a retirement number? And how much will be enough?
4 Needs Based Solutions To Help Avoid Financial Stress.
Cashflow is your foundation when influencing financial behavioral change and reaching YOUR goals.
- Wealth building
OUR CUSTOMER FEEDBACK – when people first come to us for advice.
Can’t think about my future till I’m in it.
The future is hard to predict.
When asked about retirement goals, customers usually answer with aspirational goals such as travel & good health.
The future is a big question mark. It’s so hard to know what we’ll need.
I think I’m financially unprepared for retirement.
We’ve been putting it off – we have no idea what our finances will look like for our future.
We want to feel in control
We want to have the power to decide what happens
Financial advice can be hard to trust – or finding the right person
We want independent points of view for our future & finances
We have wealth in our property – will that be enough?
I don’t have much super
Do you relate to any of these?
We think your financial future is a transition – everyone has different goals and objectives. Everyone has different retirement goals. But ONE thing is consistent, time is something we run out of. Planning and implementing the right strategy for you [in your current stage of life] is crucial. As each change in life arises, your goals and objectives change. Regular conversations and adjustment strategies are part of your long term wealth building journey.
How To Take Control NOW?
It’s never too early, but it can be too late. There are independent free tools and applications that you can use for personal financial management. As well as a way to track your goals and progress. Away to easily make adjustments as needed.
Getting debt ready
Robo advice has it’s pitfalls – good planning and independent expert advice is even more crucial today than it’s ever been before.Hidden pitfalls are disguised as easy over the phone insurance and protection policies. Not so easy when it comes to a claim.
Get help and advice early.
I think Steve Jobs may have said it best, Great things in business are never done by one person. They’re done by a team of people.
To have a solid financial future you can’t do it alone.
Even when I started out, a rooky wealth accumulator then, I had professionals to turn to, to assist me along the way. When I was stuck it was empowering for me to know the conversations were centred around my dreams, goals and aspirations.
“It’s so important to have these resources, or this team around you” as Steve said.
Need a solution to get your finances sorted.
For the many of our business owners, entrepreneurs, busy professionals, mums and dads, singles and young families, as well as pre and post retirees, we’re sharing the things we’ve seen that are even more important now – more than ever before. And, it’s not hard if you start now.
Life always brings the unexpected. You need to be able to act, (not react), review and realign quickly so as not to get off track and lose momentum.
We give you access to tools like Money Manager & the Bett3r APP to assist you to easily organise your finances. Gain insights into your ‘REAL’ expense and cashflow profile. Plug in all your assets and liabilities for a real time, consolidated view of your entire financial position. ALL in ONE place!
As time goes on – very soon in fact, mandating expenses will be used for all loans (home, personal & i?? etc loans) in order to prove serviceability. Getting on top of this now puts you in the best position for success. Both personally and for borrowing capacity in the future. Your personal wealth is being redefined. So make the most of the money you have available.
The future will likely be in the nature of a mandatory six month spending proof, 2 years income etc. You can see how important it is to do this now to be financially ready for whatever circumstance arises in the future.
If this type of financial preparation is what you are ready for, contact us here or call (08) 7111 0022
Need help with your goals?
Preparing for debt
Saving for something big
Investing in property
Reducing / extinguishing debt
Needing to refinance or consolidate debts
Managing the most expensive period of life
What will you need in retirement
Preparing to retire
Whatever the situation, ask us how we can help. Your life is here for you, wherever you are at.
Tracking Your Success
Imagine a powerful free tool to setup and track YOUR goals as well as track your spending. Having a standalone cashflow management tool – getting a birds eye view of ALL your finances ALL in ONE place, has you in control.
NOTE: 34% of people are already using these tools. Individual bank apps are only related to accounts held with that financial institution. Millenials and Gen Y’s lead slightly but is becoming a more even spread across all age groups now. What most bank apps don’t do is give you a ‘whole’ view of your complete financial position. An overview of ALL your accounts. Including your super, home loan/s, personal loan/s, credit card/s, shares/ investments – ALL in ONE place.
We offer associate tools and products, education and support in all your financial, cashflow and debt advice needs. So yo can manage your finances more easily.
*Our Coaching Process
We also have services that develops the right Cashflow management style that suits you.
Stage 1. Client engages coach -> coach / adviser explores your needs, goals & objectives -> initial Fact Find and analysis -> recommendation/s.
Stage 1.1 A plan is developed for you.
Stage 2. Ongoing service, review, tracking 3, 6, 9, 12 mth options.