Why You Should Seek Professional Help With Asset ManagementWritten by James Printon
Everyone needs to maintain their lives. What I mean by that is that we all need to take certain measures to make sure that we have a home, transportation, food, entertainment etc.
One of hardest things for many is asset management. Why is asset management so difficult for many of us? The question has several answers.
First we need certain things to survive, food, shelter, security and companionship. Second we want certain things to brighten up our lives like entertainment, education, and enlightenment.
Lastly we are influenced to acquire more of everything. More electronics, more furniture, more appliances, more cars, more things. We are endlessly sold on idea that what we have is not enough.
Also we are given easy to access credit to buy those things we really have no need for.
When we engage in asset management we are trying to get a handle on our lives. Sometimes we may need professional help with our lives.
We look to a mechanic to fix major things on our car and we ask a doctor when we have a problem more complex than a simple sunburn or a headache; why would we not ask a professional to help us with our financial life? Whatever your profession is you probably understand it better than laymen.
A Budget Doesn’t Limit You, It Gives You FreedomWritten by James Dimmitt
Mention “b” word, as in BUDGET, to a friend and they’ll look at you like you have a third eye growing from middle of your forehead. For most people word budget too often carries negative meanings such as limits, restrictions, living on an allowance, giving things up, no shopping, no fun.
Unfortunately, point they’re missing is that a budget doesn’t limit you but instead gives you freedom. That’s right - FREEDOM. The words “budget” and “freedom” are not mutually exclusive, once you understand what a budget can do for you.
Having and using a budget will give you direction. Your budget is your personal map of how you’re going to move financially from “point A” to “point B” and so on. Would you like to pay off your credit card debt? Buy a new house or car? Save for retirement? If you answered yes to any of these questions, then let me ask you one more - how are you going to do it? What’s your plan?
Let’s take a look at paying off your credit card debt. You’ve decided to lower your debt by adding an extra $20 to your monthly payments. Great idea - as long as you can afford it and you stop using your credit cards. However, you won’t know if you have extra $20 if you don’t know what your monthly expenses are from start. With a budget you may find that you can actually afford more and pay off your debts faster. You’ll have freedom to use your money more wisely and achieve your goal.