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The best mind-set for Saving & Investing
August 5, 2016
Are your investments working hard enough?
October 5, 2016

Structure your financial success


They say that 63% of Americans are literally one pay check away from being out on the street, by lacking an emergency fund for unexpected expenses such as a car breakdown. In South Africa, that number is probably much higher – especially if you’re one of those people who never have any money left at the end of the month to squirrel away for a rainy day. The good news is that we are here to help you with a plan of attack to gain back control of your money.

But …if only…I just can’t – let’s deal with the objections first

The notion of building an investment portfolio can feel like a pipe dream for many. You may think: “how the heck am I supposed to save for a retirement when I’m literally trying to make ends meet? I don’t earn enough. My wife doesn’t work. I’m in way too much debt. I can’t find the job of my dreams”. And so on and so forth. We know, it’s hard. Because hey, you can’t save if you have no money to save, right? But we believe there are always ways to unearth money in your budget through the choices you make.

Life deals us many blows and a financial misfortune can be one of the hardest to face. But with the help of a seasoned financial advisor, you can create your very own personal financial fitness plan. One that is tailor-made to your income and family circumstances.

The 4 steps to gaining back control

Like we said in our last investment boot camp article, success depends on your attitude. With a structured plan in place, you can make significant changes. Let’s get started with these 4 steps:

Structure your financial success


1. Planning:

Firstly, we’ll take a long hard look at your finances and decide together what your goals are, whether it’s paying off credit and store cards, consolidating your debt or making clever cutbacks to find more disposable income to invest in your future.


Structure your financial success


2. Implement your plan:

To make changes to your spending, it’s the easiest to reverse engineer a plan of attack, in other words to work backwards from your goal. Together we will decide what is achievable, what exactly is required to free you from debt, which unnecessary expenses can be annihilated and so on. Yes, you guessed it, you’ll need to create a detailed budget, or relook your existing budget. You might have to make some tough choices here but just think of the rewards! Just like you can’t do one jog a week and expect a six-pack, or continue to eat a slab of chocolate every night for a Kate Moss physique, you can’t keep spending in the same manner and expect things to change.


Structure your financial success


3. Annual review:

As with any fitness regime, it’s a good idea to check in on your progress and see how you’re doing. Where can you flex your savings muscles some more? What are your weak spots?




Structure your financial success



4. Improve:

Finally, decide where you can improve. Maybe you can tighten the belt even further on food or entertainment? Maybe you need to review your kids’ extra-murals? Or now that you have your credit card spending under control, what’s your next savings goal?

We hope that simply by reading about this structured approach, you feel more in control of your money already. We can help you on that new journey of transforming the way you spend and save. Keep following our investment boot camp or set up a chat with Ivan today. Just call 021 434 8065 or drop us a line at ivan@gfb.co.za and come in for a coffee and a free wealth coaching session.

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Structure your financial success

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Structure your financial success

Ivan Ginsberg is a private financial advisor situated in Cape Town. He specializes in aligning both personal and business financial needs to a structured and bespoke financial plan including all aspects of investment planning, estate planning, retirement planning, health insurance, as well as business risk mitigation through business insurance and employee benefits. He subscribes to a strict Code of Ethics.

Contact us: 021 434 8065
Write us: ivan@gfb.co.za

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