Of these, retirement planning is probably most important priority; because we have to spend a significant portion of our life when we don't have any income coming in.

THE TEN MOST COMMON MISTAKES PEOPLE MAKE IN MANAGING THEIR MONEY:

I believe this is reason why so many people have a needless struggle with their finances.

1.poor debt management through excessive borrowing - not being able to live "within your means". 2. failure to monitor their financial position. 3. lack of motivation (desire) to take action. 4. lack of foresight in looking ahead. N.B: 5. failure to set financial plans for future. Most people don't plan to fail, but fail to plan. 6. lack of knowledge. Financial ignorance can prove expensive. 7. inadequate protection against unforeseen events (life and general insurance), such as death, disability and physical losses. 8. procrastination in taking remedial action. And most importantly, 9. lack of discipline in saving habits. and

10. poor investments: you either pay too much tax on them or inflation eats into your return, or both...so that you money actually goes backwards. Even worse, you could lose all your money if company to whom you gave your money goes 'broke'.

KNOWLEDGE:

>From above we can see that some basic financial knowledge is vital for all people to survive in financial 'jungle' that is today's world. Gaining financial knowledge takes time, effort and discipline. You are manager of your finances, so make a PLAN to reach your financial GOALS. Then implement it.

ACTION is key word. Good luck

Craig Lock

Aim high, dream high.

If you aim for tree tops, you might not get off ground...

so why not aim for stars.

Good luck

Craig Lock*

* Craig Lock has been involved in personal finance field for too many years. Craig has studied and written extensively on money matters: articles, brochures for financial institutions and books. He is now an author of five published books... with another twelve being published and marketed on Internet.

For valuable money information to help you make and save your hard-earned money, get out of debt, learn how to invest, retire early, and take control of your finances, see:

The Million Dollar Money Tree http://www.nzenterprise.com/money/

THE EVERYPERSON'S GUIDE TO SIMPLE MONEY MANAGEMENT Brochure available for $5 e-mail clock@xtra.co.nz

If you have knowledge, let others light their candle at it" - Margaret Fuller

Best Wishes from First City to see Sun in "Godzone" ("little" New Zealand)

Craig Lock