From Financial Frustration to Financial Peace of Mind
“My light has been disconnected again Michelle!” I could hear the agony and frustration in my friend’s voice. Wendy’s job title implied she was middle class. Using her exact words, she said, “Mich, I feel like a failed bill juggler and a bad money magician.” Have you ever felt like this? Don’t worry. Here are some tips that helped my friend, Wendy, to journey from financial frustration to financial peace of mind, and are sure to help you too.
1. Determine Your Current Location and Destination: If you know you are journeying from your house to Dunn’s River Falls, automatically you will think about the various routes and choose the best one. If you neither know where you are, nor where you are going, you will remain stuck. The problem is that your powerful brain will not automatically look for alternatives. Wendy’s location was debt of over J$3 million, no savings and mounting bills. Her destination is to own her own home which currently costs $13 million. What’s yours?
2. Determine Your Financial Milestones: To ensure you are on the right road, you have to look out for landmarks . . .your financial milestones along the way. Wendy’s first accomplishment was to work out a payment plan to complete the hire purchase arrangement for her stove. The next major milestone was to reduce her debts. How much debt and/or savings/investment do you want to have in 1 year, 5 years, 10 years?
3. Discover your talents and market them: She made the financial sacrifice and invested in a cake decorating course. This allowed her to transition from doing seasonal Christmas cake to make beautiful wedding cakes all year round!!! What is your special gift? Do you need to invest more in it?
4. Decide on your financial partner: On your financial journey, it is better to rely on the knowledge and experience of an expert to assist you to get to your destination than others who also feel lost. Wendy asked JMMB for directions and sacrificed the time to do her free goal planning session.
This is a real story about my friend, though her name has been changed to preserve her privacy. With this advice in 6 years, she was able to clear off her debt, with the exception of her car loan. Additionally, she was able to send her 2 sons to university to pursue medicine and architecture, using a combination of scholarships and saving. Be like Wendy, and leave financial frustration behind. Please call (876) 998-566 today and start your journey towards financial peace of mind.
Written by Michelle Sinclair-Doyley
Manager, Group Financial Partnership Support & Financial Education, JMMB Group