Sunday 30 October 2016

Are We Close to a Cure? Hope for Diabetes Patients with Latest Treatments

The advances in medicine and health has given diabetes patients hope that they may be close to cure the disease as a range of the latest treatments helps people struggling with diabetes better manage it. In such a short time solutions have been found to some of the most pressing problems diabetics deal with on a daily basis.


Joe Martino from collective-evolution.com reports that scientists have discovered that Bitter Melon, a type of fruit that grows well in Asia, Africa and the Caribbean, has been shown to be effective in managing blood sugar. The effect is not as strong as treating diabetics with Metformin, however, the active compounds in Bitter Melon that is responsible has not been isolated.


Trial participants in a 2011 study, published in the Journal of Ethnopharmacology, took 2000mg of Bitter Melon each day and results indicate it was effective in managing spikes in blood sugar and overall management of the disease.


The express.co.uk reports scientists have discovered a potential cure for both types of diabetes. It may be possible, writes health reporter Mark Reynolds, to take a pill which scientists claim can potentially cure diabetes. The pill works by changing the point of blood glucose management from the pancreas to the patient’s intestines.


Leading research author, Professor John March and his colleagues at Cornell University in New York engineered a strain of a common gut flora, Lactobacillus, to release a peptide. This peptide is a hormone that stimulates release of insulin into the bloodstream in response to eating food.


Professor March was upbeat about the prospects of the developments for diabetics saying that diabetics may “…just take the pill and wouldn’t have to do anything else to control their diabetes.” Though, he did note that it would be likely that the new treatment would be used in tandem with other medical interventions.


Diabetes sufferers experience high-levels of blood glucose levels, which can be dangerous as the disease is linked to obesity, hypertension, cardiovascular disease, stroke, blindness and limb amputations. Very high levels of blood glucose can also cause sufferers to fall into a diabetic coma which can be deadly.


In type I diabetes the pancreas doesn’t produce any insulin or too little insulin to assist the glucose in the blood to enter the cells where energy will be used in cellular activity. Type I diabetics require synthetic insulin to help their body process sugars.


Type II diabetes occurs where the insulin the body produces doesn’t work properly. This causes what is known as insulin resistance. The cells may also stop responding to insulin. As a result sufferers can experience severe fatigue and may not be able to reduce weight through diet and exercise as their metabolism fails to work properly. Excess body weight can often be a clue that someone may have Type II diabetes.


A probiotic pill may face fewer hurdles in being approved for use by drug authorities.


“One of the things that’s useful about probiotics,” says Professor March, “is that they’re generally regarded as safe.” The US Food and Drug Administration (FDA) may not require the same level of testing before approving probiotics for use in the treatment of diabetes.


“They’re already available, people already take them, and they haven’t had any adverse side effects.” Said Professor March. There are further animal trials ahead for the new pill. If they are successful, says March, it may become available for human use.


Diabetics struggling with their disease may soon have hope to break free of their condition.


You are looking for more information on healthy living and healthy finance, then go to Living Health Shack on FaceBook and click “Like” on the page.



Are We Close to a Cure? Hope for Diabetes Patients with Latest Treatments

Are We Close to a Cure? Hope for Diabetes Patients with Latest Treatments

The advances in medicine and health has given diabetes patients hope that they may be close to cure the disease as a range of the latest treatments helps people struggling with diabetes better manage it. In such a short time solutions have been found to some of the most pressing problems diabetics deal with on a daily basis.


Joe Martino from collective-evolution.com reports that scientists have discovered that Bitter Melon, a type of fruit that grows well in Asia, Africa and the Caribbean, has been shown to be effective in managing blood sugar. The effect is not as strong as treating diabetics with Metformin, however, the active compounds in Bitter Melon that is responsible has not been isolated.


Trial participants in a 2011 study, published in the Journal of Ethnopharmacology, took 2000mg of Bitter Melon each day and results indicate it was effective in managing spikes in blood sugar and overall management of the disease.


The express.co.uk reports scientists have discovered a potential cure for both types of diabetes. It may be possible, writes health reporter Mark Reynolds, to take a pill which scientists claim can potentially cure diabetes. The pill works by changing the point of blood glucose management from the pancreas to the patient’s intestines.


Leading research author, Professor John March and his colleagues at Cornell University in New York engineered a strain of a common gut flora, Lactobacillus, to release a peptide. This peptide is a hormone that stimulates release of insulin into the bloodstream in response to eating food.


Professor March was upbeat about the prospects of the developments for diabetics saying that diabetics may “…just take the pill and wouldn’t have to do anything else to control their diabetes.” Though, he did note that it would be likely that the new treatment would be used in tandem with other medical interventions.


Diabetes sufferers experience high-levels of blood glucose levels, which can be dangerous as the disease is linked to obesity, hypertension, cardiovascular disease, stroke, blindness and limb amputations. Very high levels of blood glucose can also cause sufferers to fall into a diabetic coma which can be deadly.


In type I diabetes the pancreas doesn’t produce any insulin or too little insulin to assist the glucose in the blood to enter the cells where energy will be used in cellular activity. Type I diabetics require synthetic insulin to help their body process sugars.


Type II diabetes occurs where the insulin the body produces doesn’t work properly. This causes what is known as insulin resistance. The cells may also stop responding to insulin. As a result sufferers can experience severe fatigue and may not be able to reduce weight through diet and exercise as their metabolism fails to work properly. Excess body weight can often be a clue that someone may have Type II diabetes.


A probiotic pill may face fewer hurdles in being approved for use by drug authorities.


“One of the things that’s useful about probiotics,” says Professor March, “is that they’re generally regarded as safe.” The US Food and Drug Administration (FDA) may not require the same level of testing before approving probiotics for use in the treatment of diabetes.


“They’re already available, people already take them, and they haven’t had any adverse side effects.” Said Professor March. There are further animal trials ahead for the new pill. If they are successful, says March, it may become available for human use.


Diabetics struggling with their disease may soon have hope to break free of their condition.


You are looking for more information on healthy living and healthy finance, then go to Living Health Shack on FaceBook and click “Like” on the page.



Are We Close to a Cure? Hope for Diabetes Patients with Latest Treatments

Saturday 29 October 2016

Are Sweet Potatoes Good for Diabetics?

It is an age-old nutrition debate; are sweet potatoes good for diabetics or are they as troublesome for blood sugar control as ordinary white potato varieties? It is an important debate because diabetics need firm answers – the sooner, the better. It is crucial that diabetics understand as early as possible after they are diagnosed exactly what foods are safe to eat and what they must stay clear of.


A diabetes diagnosis often means eliminating or cutting back your consumption of many of your favourite foods. Many foods with high carbohydrate content, such as many desserts, large amounts of pasta, breads, sugary breakfast cereals and soft drinks, can send your blood sugar levels sky-high after only a few minutes from having eaten them.


The big problem with this is that over time perpetually high blood sugar levels can damage your small blood vessels and lead to heart diseases, blindness, kidney diseases, and stroke. In some serious cases diabetics may even face limbs needing to be amputated.


The good news is that diabetics can include a variety of carbohydrates that are digested more slowly, such as the ones found in non-starchy vegetables, fresh fruits, nuts and sweet potatoes to stay healthier with their condition.


In particular, the advice around eating potatoes, whether regular potatoes or sweet potatoes, has not always been clear with some dieticians arguing that diabetics should stay clear of both. Other dieticians argue that sweet potatoes are fine for diabetics and regular potato varieties should be consumed in limited proportions.


The situation is not as clear as many diabetics would like, only adding to the confusion and distress they may already be experiencing after being diagnosed. However, there are important distinctions that can make your decision about eating potatoes a little easier.


Sweet Potatoes and White Potatoes are from Different Plant Species


Both Sweet Potato and White Potato are tubers, a type of plant that stores energy in tubular root systems. There are many of these types of plants. Carrots, swedes, turnips, yams, sweet potato and white potato are the most commonly known examples of vegetables that come from plants with these tubular root systems.


Sweet Potato and White Potato are rich in energy as a result. They make a great side dish and can be enjoyed mashed, boiled, steamed, baked and fried. They both originate from Central and South America where they have been cultivated for thousands of years.


Krista Scott-Dixon and Brian St. Pierre from Precision Nutrition note some of these key differences in their article, “Sweet vs. regular potatoes: Which potatoes are really healthier?”


“Botanically,” they write, “potatoes and sweet potatoes are completely unrelated.”


Potatoes (Solanum tuberosum) are from the Solanaceae family of plants. They are related to plants like tomatoes, peppers, eggplants and the inedible, deadly, nightshade. The stems and leaves of these plants can’t be eaten as they are poisonous. If potatoes have over-ripened they will start to turn green and, for the same reason, shouldn’t be eaten.


But as Scott-Dixon and St. Pierre note, Sweet Potato (Ipomoea Batatas) is from the totally different family of plants called Convolvulaceae. Like Solanum Tuberosum it is also a tuber, however, that is where the similarity ends. Sweet Potato plants can also be used in cooking, especially the leaves which are very nutritious.


Ordinary potatoes, whether you have them baked, mashed, boiled, steamed, or fried as french fries or potato chips, have a much higher glycaemic index, which means that their carbohydrates are more-quickly turned into sugar, which can lead to elevated blood sugar levels. In contrast, Sweet Potatoes have a much lower glycaemic index value, meaning they will not lead to a rise in blood sugar levels as long as they are consumed in moderation.


If you would like to swap potatoes with sweet potatoes, not only will you have a delicious and nutritious alternative, but, you would be lowering your overall carbohydrate intake. Adding to their status as a healthy option, Sweet Potatoes have a high dietary fibre contribution which actually aides in keeping blood sugar and cholesterol in-check.


You can now enjoy a tasty option totally guilt free.


You are looking for more information on healthy living and healthy finance, then go to Living Health Shack on FaceBook and click “Like” on the page.



Are Sweet Potatoes Good for Diabetics?

Are Sweet Potatoes Good for Diabetics?

It is an age-old nutrition debate; are sweet potatoes good for diabetics or are they as troublesome for blood sugar control as ordinary white potato varieties? It is an important debate because diabetics need firm answers – the sooner, the better. It is crucial that diabetics understand as early as possible after they are diagnosed exactly what foods are safe to eat and what they must stay clear of.


A diabetes diagnosis often means eliminating or cutting back your consumption of many of your favourite foods. Many foods with high carbohydrate content, such as many desserts, large amounts of pasta, breads, sugary breakfast cereals and soft drinks, can send your blood sugar levels sky-high after only a few minutes from having eaten them.


The big problem with this is that over time perpetually high blood sugar levels can damage your small blood vessels and lead to heart diseases, blindness, kidney diseases, and stroke. In some serious cases diabetics may even face limbs needing to be amputated.


The good news is that diabetics can include a variety of carbohydrates that are digested more slowly, such as the ones found in non-starchy vegetables, fresh fruits, nuts and sweet potatoes to stay healthier with their condition.


In particular, the advice around eating potatoes, whether regular potatoes or sweet potatoes, has not always been clear with some dieticians arguing that diabetics should stay clear of both. Other dieticians argue that sweet potatoes are fine for diabetics and regular potato varieties should be consumed in limited proportions.


The situation is not as clear as many diabetics would like, only adding to the confusion and distress they may already be experiencing after being diagnosed. However, there are important distinctions that can make your decision about eating potatoes a little easier.


Sweet Potatoes and White Potatoes are from Different Plant Species


Both Sweet Potato and White Potato are tubers, a type of plant that stores energy in tubular root systems. There are many of these types of plants. Carrots, swedes, turnips, yams, sweet potato and white potato are the most commonly known examples of vegetables that come from plants with these tubular root systems.


Sweet Potato and White Potato are rich in energy as a result. They make a great side dish and can be enjoyed mashed, boiled, steamed, baked and fried. They both originate from Central and South America where they have been cultivated for thousands of years.


Krista Scott-Dixon and Brian St. Pierre from Precision Nutrition note some of these key differences in their article, “Sweet vs. regular potatoes: Which potatoes are really healthier?”


“Botanically,” they write, “potatoes and sweet potatoes are completely unrelated.”


Potatoes (Solanum tuberosum) are from the Solanaceae family of plants. They are related to plants like tomatoes, peppers, eggplants and the inedible, deadly, nightshade. The stems and leaves of these plants can’t be eaten as they are poisonous. If potatoes have over-ripened they will start to turn green and, for the same reason, shouldn’t be eaten.


But as Scott-Dixon and St. Pierre note, Sweet Potato (Ipomoea Batatas) is from the totally different family of plants called Convolvulaceae. Like Solanum Tuberosum it is also a tuber, however, that is where the similarity ends. Sweet Potato plants can also be used in cooking, especially the leaves which are very nutritious.


Ordinary potatoes, whether you have them baked, mashed, boiled, steamed, or fried as french fries or potato chips, have a much higher glycaemic index, which means that their carbohydrates are more-quickly turned into sugar, which can lead to elevated blood sugar levels. In contrast, Sweet Potatoes have a much lower glycaemic index value, meaning they will not lead to a rise in blood sugar levels as long as they are consumed in moderation.


If you would like to swap potatoes with sweet potatoes, not only will you have a delicious and nutritious alternative, but, you would be lowering your overall carbohydrate intake. Adding to their status as a healthy option, Sweet Potatoes have a high dietary fibre contribution which actually aides in keeping blood sugar and cholesterol in-check.


You can now enjoy a tasty option totally guilt free.


You are looking for more information on healthy living and healthy finance, then go to Living Health Shack on FaceBook and click “Like” on the page.



Are Sweet Potatoes Good for Diabetics?

Friday 28 October 2016

Are Bananas Bad for Diabetics? Bananas, More Friend than Foe

There is so much misinformation out there it can be hard to know the truth about what foods are bad for you if you are diabetic, especially when it comes to eating fresh fruit like bananas. Diabetics are told they need to swap processed refined carbohydrates for fresh fruit and vegetables; however, many dieticians recommend diabetics don’t consume fruits high in natural carbohydrates.


Bananas are one such fresh fruit that has attracted a lot of attention because they can have higher levels of carbohydrates. These are in form of fructose, which is a natural form of sugar and easier for the body to process. However, the effect on blood sugar is not uniformly bad.


As the American Diabetes Association (ADA) highlights, whether or not bananas are bad for diabetics comes down to how sensitive a diabetic is to natural carbohydrates. Some diabetics are highly sensitive to any carbohydrates whether natural or refined. Other diabetics may react to refined carbohydrates very badly but will not experience the same reaction to natural carbohydrates in fresh fruits such as bananas.


The ADA recommends that diabetics can still consume bananas, but they caution diabetics to plan their meals to account for the carbohydrates so that overall carbohydrate consumption is safe, and, they also suggest that diabetics become familiar with how much carbohydrate is in bananas.


The level of natural sugars in bananas is not uniform. The amount of carbohydrates in bananas depends on the size of the fruit you are consuming. The ADA points out that a large banana of around 9 inches (approximately 24 centimetres) may have up to 35 grams of carbohydrate. Dried banana, in the form of banana chips, can have up to 150 calories per 1 cup serving. This is as much as many confectionary foods like, chocolate bars, potato chips and cake.


Small bananas, though, are relatively safer for diabetics to eat as they may have as little as 18.5 grams of carbohydrate. This is more in line with other fruits and some vegetables.


The American Diabetes Association’s list of banana size and carbohydrates comparison looks like this:


  • Extra Small Bananas – 6 inches long or less – have approximately 18.5 grams of carbohydrate;

  • Small Bananas – between 6 and 7 inches long – contain around 23 grams of carbohydrate;

  • Medium Bananas – between 7 and 8 inches long – have around 27 grams of carbohydrate;

  • Large Bananas – between 8 and 9 inches long – contain approximately 31 grams of carbohydrate; and

  • Very Large Bananas – over 9 inches in length – include 35 grams or more in carbohydrate.

Bananas are a good choice for food to snack on, or to add to a meal, like fruit salad or on top of breakfast cereal. They are full of fibre which is great for diabetics as it helps to digest and control blood sugar, harmful cholesterol and aids in promoting healthy bowel function.


Bananas are also rich in many vitamins such as; vitamin C, potassium, B vitamins like thiamine, riboflavin, niacin, vitamin B-6 and folate, vitamin E and beta carotene which is a pre-cursor to vitamin A. Bananas are one of the most-nutritious natural foods available and are excellent for all people to include in their diet, especially diabetics who need many of the vitamins bananas come with. The B vitamins, vitamin E and beta carotene have a vital role to play in keeping blood, the nervous system, skin and body tissue and the cellular repair functions of the body working properly for good health.


So, if you are a diabetic and your condition is well-managed with your blood sugar levels under control, there is no reason why bananas can’t be a part of your overall healthy eating plan. They are a good diabetes-friendly snack.


You are looking for more information on healthy living and healthy finance, then go to Living Health Shack on FaceBook and click “Like” on the page.



Are Bananas Bad for Diabetics? Bananas, More Friend than Foe

Are Bananas Bad for Diabetics? Bananas, More Friend than Foe

There is so much misinformation out there it can be hard to know the truth about what foods are bad for you if you are diabetic, especially when it comes to eating fresh fruit like bananas. Diabetics are told they need to swap processed refined carbohydrates for fresh fruit and vegetables; however, many dieticians recommend diabetics don’t consume fruits high in natural carbohydrates.


Bananas are one such fresh fruit that has attracted a lot of attention because they can have higher levels of carbohydrates. These are in form of fructose, which is a natural form of sugar and easier for the body to process. However, the effect on blood sugar is not uniformly bad.


As the American Diabetes Association (ADA) highlights, whether or not bananas are bad for diabetics comes down to how sensitive a diabetic is to natural carbohydrates. Some diabetics are highly sensitive to any carbohydrates whether natural or refined. Other diabetics may react to refined carbohydrates very badly but will not experience the same reaction to natural carbohydrates in fresh fruits such as bananas.


The ADA recommends that diabetics can still consume bananas, but they caution diabetics to plan their meals to account for the carbohydrates so that overall carbohydrate consumption is safe, and, they also suggest that diabetics become familiar with how much carbohydrate is in bananas.


The level of natural sugars in bananas is not uniform. The amount of carbohydrates in bananas depends on the size of the fruit you are consuming. The ADA points out that a large banana of around 9 inches (approximately 24 centimetres) may have up to 35 grams of carbohydrate. Dried banana, in the form of banana chips, can have up to 150 calories per 1 cup serving. This is as much as many confectionary foods like, chocolate bars, potato chips and cake.


Small bananas, though, are relatively safer for diabetics to eat as they may have as little as 18.5 grams of carbohydrate. This is more in line with other fruits and some vegetables.


The American Diabetes Association’s list of banana size and carbohydrates comparison looks like this:


  • Extra Small Bananas – 6 inches long or less – have approximately 18.5 grams of carbohydrate;

  • Small Bananas – between 6 and 7 inches long – contain around 23 grams of carbohydrate;

  • Medium Bananas – between 7 and 8 inches long – have around 27 grams of carbohydrate;

  • Large Bananas – between 8 and 9 inches long – contain approximately 31 grams of carbohydrate; and

  • Very Large Bananas – over 9 inches in length – include 35 grams or more in carbohydrate.

Bananas are a good choice for food to snack on, or to add to a meal, like fruit salad or on top of breakfast cereal. They are full of fibre which is great for diabetics as it helps to digest and control blood sugar, harmful cholesterol and aids in promoting healthy bowel function.


Bananas are also rich in many vitamins such as; vitamin C, potassium, B vitamins like thiamine, riboflavin, niacin, vitamin B-6 and folate, vitamin E and beta carotene which is a pre-cursor to vitamin A. Bananas are one of the most-nutritious natural foods available and are excellent for all people to include in their diet, especially diabetics who need many of the vitamins bananas come with. The B vitamins, vitamin E and beta carotene have a vital role to play in keeping blood, the nervous system, skin and body tissue and the cellular repair functions of the body working properly for good health.


So, if you are a diabetic and your condition is well-managed with your blood sugar levels under control, there is no reason why bananas can’t be a part of your overall healthy eating plan. They are a good diabetes-friendly snack.


You are looking for more information on healthy living and healthy finance, then go to Living Health Shack on FaceBook and click “Like” on the page.



Are Bananas Bad for Diabetics? Bananas, More Friend than Foe

Achieve Financial Independence with Better Budgeting – 7 Tips on How to Avoid the Budgeting Blues

A key way in which people try to achieve more financial independence is through gaining more control over their personal finances through financial planning and creating a livable working budget. Many people tune out when they hear the word ‘budget’; this is similar to the response when people hear the word ‘diet’.


The comparison is not that absurd. Creating and sticking to a budget is the personal finance equivalent of dieting. Like dieting, budgeting is about creating new habits that lead to better, more sustainable ways of living.


How to Budget without Pain


Budgeting is an extremely important part of being a responsible, wise, user of the resources you are entrusted with – whether you believe you are getting enough economic resources or not.


Your budget establishes the operating principles for your financial life. It involves trade-offs and changing your behavior; essentially your habits with money will be changed and replaced by better ones.


Here are 7 tips to help you avoid the budgeting blues. You will no longer have to endure a fear response when you hear the word ‘budget’.


Tip #1 – Budget by the month


Ideally the best way to start your budget is by tracking your financial life on a monthly basis. This period of one month allows for the ups and downs that occur over the month. Monthly tracking helps to smooth out the weekly volatility that is often a part of how we live.


Tip #2 – Record your spending in separate categories


Normally, you won’t be spending all of your income in one area. Typically, your spending will be divided between your mortgage or rent, electricity, water, rates, tolls and parking, public transport fares, groceries, medicine, etcetera.


In order to get a better picture of where your money is going record every purchase you make in its relevant spending category. So, for example, groceries will be recorded in a separate category to rent; your electricity bill will be recorded in a separate category to entertainment and dining-out.


Later you will analyze your spending looking for patterns which will inform your decisions about what needs to change in the way you spend your money.


Tip #3 – Organize your debts


Your repayments on your debts will be recorded in a spending category, most-likely called something like ‘Debt Repayment’ or something that is more descriptive like ‘Car Repayment’, ‘Mortgage’ or ‘Computer Repayment’.


Even though you are recording repayments so you can track your spending, organizing your debts in a hierarchy from highest balance to lowest balance will allow you to attack each debt in order to extinguish it as fast as you possibly can.


Make sure you keep all records including statements and correspondence from creditors. File it away in a place you can easily get to. Revisit that folder every month. Give each debt a separate folder so you don’t mix-up creditors.


On a ruled A4 or Foolscap piece of paper write the statement date, the ending balance on the statement and any late payment penalty fees. Staple or past this paper to the inside of the folder. This will help you track your balance. In some circumstances any account fees (including penalty fees) and interest may be tax deductible. So, it makes perfect sense to track them


Tip #4 – Keep every receipt you receive and file it away


Keep all receipts for purchases – no matter how small or large. You will use these receipts to reconcile your bank statements at the end of each month. ‘Reconciling’ involves making sure all funds exiting your bank account matches all of your receipts for purchases. They should balance. If they don’t balance you will want to find out why.


Tip #5 – Identify your problem spending areas


Now that you have all of your receipts you will begin to analyze them. Having set limits for your spending in your budget you will highlight those areas where you went over budget? Do you really need $5 take-away coffee twice a day, five days a week? Perhaps you could make it a once per week treat as a reward for sticking to your budget instead of buying coffee every day.


Likewise, decide to cut back on areas you don’t really need to be spending anything on. Instead of dining-out, for example, stay home and cook a healthy, home-cooked meal yourself. Not only will it save you money but it will be more nutritious for you anyway.


The important thing to understand is that every dollar adds-up. Your goal is to have a bulging bank account at the end of the year, rather than an empty one.


Tip #6 – Shop around to save money on your bills


There are so many ways to reduce spending, but one of the best ways involves shopping around for your service providers. Advertising is everywhere promoting good deals to get you to switch electricity providers, gas providers, health insurance policies, and telephone and internet service providers.  Take an opportunity to review your providers to ensure you’re getting the best deal. If you are paying too much consider switching.


Tip #7 – Prioritize your financial goals


Rank your financial goals in line with what is most important to you. This could include; saving for a down-payment on a new home, or starting a share portfolio, purchasing an investment property, or it could be something more modest such as saving for a family holiday.


Working out which goals are most important, and where your other financial goals rank in relation to it, will help in designing a budget which will serve to direct funds to each and every goal you commit to.


With your financial house starting to look like it’s in good shape it is worthwhile mentioning that you don’t have to live a hard life devoid of any fun. That would run counter to you achieving an overall, healthy, balanced life.


Be kind to yourself. Allow yourself special treats now and then so you don’t feel like your finances are weighing you down. You will be more likely to stick to your financial plans if you can still find room to live a happy, enjoyable life.


Building a better budget is the best way to achieve a healthier financial life, reducing the stress that comes with being out-of-control financially, and having something to look forward to into the future.



Achieve Financial Independence with Better Budgeting – 7 Tips on How to Avoid the Budgeting Blues

Achieve Financial Independence with Better Budgeting – 7 Tips on How to Avoid the Budgeting Blues

A key way in which people try to achieve more financial independence is through gaining more control over their personal finances through financial planning and creating a livable working budget. Many people tune out when they hear the word ‘budget’; this is similar to the response when people hear the word ‘diet’.


The comparison is not that absurd. Creating and sticking to a budget is the personal finance equivalent of dieting. Like dieting, budgeting is about creating new habits that lead to better, more sustainable ways of living.


How to Budget without Pain


Budgeting is an extremely important part of being a responsible, wise, user of the resources you are entrusted with – whether you believe you are getting enough economic resources or not.


Your budget establishes the operating principles for your financial life. It involves trade-offs and changing your behavior; essentially your habits with money will be changed and replaced by better ones.


Here are 7 tips to help you avoid the budgeting blues. You will no longer have to endure a fear response when you hear the word ‘budget’.


Tip #1 – Budget by the month


Ideally the best way to start your budget is by tracking your financial life on a monthly basis. This period of one month allows for the ups and downs that occur over the month. Monthly tracking helps to smooth out the weekly volatility that is often a part of how we live.


Tip #2 – Record your spending in separate categories


Normally, you won’t be spending all of your income in one area. Typically, your spending will be divided between your mortgage or rent, electricity, water, rates, tolls and parking, public transport fares, groceries, medicine, etcetera.


In order to get a better picture of where your money is going record every purchase you make in its relevant spending category. So, for example, groceries will be recorded in a separate category to rent; your electricity bill will be recorded in a separate category to entertainment and dining-out.


Later you will analyze your spending looking for patterns which will inform your decisions about what needs to change in the way you spend your money.


Tip #3 – Organize your debts


Your repayments on your debts will be recorded in a spending category, most-likely called something like ‘Debt Repayment’ or something that is more descriptive like ‘Car Repayment’, ‘Mortgage’ or ‘Computer Repayment’.


Even though you are recording repayments so you can track your spending, organizing your debts in a hierarchy from highest balance to lowest balance will allow you to attack each debt in order to extinguish it as fast as you possibly can.


Make sure you keep all records including statements and correspondence from creditors. File it away in a place you can easily get to. Revisit that folder every month. Give each debt a separate folder so you don’t mix-up creditors.


On a ruled A4 or Foolscap piece of paper write the statement date, the ending balance on the statement and any late payment penalty fees. Staple or past this paper to the inside of the folder. This will help you track your balance. In some circumstances any account fees (including penalty fees) and interest may be tax deductible. So, it makes perfect sense to track them


Tip #4 – Keep every receipt you receive and file it away


Keep all receipts for purchases – no matter how small or large. You will use these receipts to reconcile your bank statements at the end of each month. ‘Reconciling’ involves making sure all funds exiting your bank account matches all of your receipts for purchases. They should balance. If they don’t balance you will want to find out why.


Tip #5 – Identify your problem spending areas


Now that you have all of your receipts you will begin to analyze them. Having set limits for your spending in your budget you will highlight those areas where you went over budget? Do you really need $5 take-away coffee twice a day, five days a week? Perhaps you could make it a once per week treat as a reward for sticking to your budget instead of buying coffee every day.


Likewise, decide to cut back on areas you don’t really need to be spending anything on. Instead of dining-out, for example, stay home and cook a healthy, home-cooked meal yourself. Not only will it save you money but it will be more nutritious for you anyway.


The important thing to understand is that every dollar adds-up. Your goal is to have a bulging bank account at the end of the year, rather than an empty one.


Tip #6 – Shop around to save money on your bills


There are so many ways to reduce spending, but one of the best ways involves shopping around for your service providers. Advertising is everywhere promoting good deals to get you to switch electricity providers, gas providers, health insurance policies, and telephone and internet service providers.  Take an opportunity to review your providers to ensure you’re getting the best deal. If you are paying too much consider switching.


Tip #7 – Prioritize your financial goals


Rank your financial goals in line with what is most important to you. This could include; saving for a down-payment on a new home, or starting a share portfolio, purchasing an investment property, or it could be something more modest such as saving for a family holiday.


Working out which goals are most important, and where your other financial goals rank in relation to it, will help in designing a budget which will serve to direct funds to each and every goal you commit to.


With your financial house starting to look like it’s in good shape it is worthwhile mentioning that you don’t have to live a hard life devoid of any fun. That would run counter to you achieving an overall, healthy, balanced life.


Be kind to yourself. Allow yourself special treats now and then so you don’t feel like your finances are weighing you down. You will be more likely to stick to your financial plans if you can still find room to live a happy, enjoyable life.


Building a better budget is the best way to achieve a healthier financial life, reducing the stress that comes with being out-of-control financially, and having something to look forward to into the future.



Achieve Financial Independence with Better Budgeting – 7 Tips on How to Avoid the Budgeting Blues

Tuesday 11 October 2016

7 Tips On How To Achieve Financial Freedom

As the world continues to recover from the Global Financial Crises, with many people having lost significant income as well as wealth, here are 7 tips of importance in learning how to achieve Financial Freedom. Recovery has been a difficult process and across the world worry about a second, related, financial crisis has many people concerned.


You don’t have to wait for trouble to strike before doing something to protect you and your family. The key is in trying to become financially free. The following 7 tips will give you some ideas that you can use immediately to get some order to your financial chaos – or at least mediocrity.


Tip #1: Habits Matter – Create Good Ones


One of the first things to realize about overcoming entrenched problems is that they didn’t get there by accident. Over a long period of time – possibly years – you may have fallen into bad habits. You likely weren’t even aware that bad habits were overtaking your life.


Bad habits can grow like weeds in your life. Before you realize it you may have a bad habit in almost every area of your life. You stop exercising, eat the wrong food, spend too much time partying, over-spend and stop tracking your budget.


Start good habits now.


Get a good night’s rest so you wake-up with energy and a good, positive attitude for the following day’s work. Eat good wholesome food; plenty of fruit and vegetables and lean meat. Drink a minimum of 8-10 glasses of water per day.


Stop smoking. Reduce alcohol consumption. Stop negative thinking.  Learn to focus your thoughts. Practice creative visualization. Meditate. Pray.


Thoughts are powerful. They can create or destroy. If you are in the habit of thinking negatively do something about it because it can impede you from achieving everything you want in life, including your goal to be financially free.


Begin the habit now to track every incoming and outgoing dollar every day. If you don’t respect the honour of having the resources you are entrusted with now, how can you be a good steward of even more resources?


Tip #2: Little Things Matter – Be Aware of the Small Things


Sometimes it is not even the big decisions we mess up. Failing to pay enough attention to the small things that eat into our bottom line is equally as bad. You may be stuck in a habit of buying the things you always buy, when the best approach is to always shop for value.


The family groceries shop is one area that most people can save a ton of money. By all means buy brands if they are the absolute cheapest or the very best value for money. As soon as you realize that brand name shopping comes at a price you will either find the extra to pay for more expensive brands by somehow increasing your income, or if that proves too difficult, you will cut your grocery budget to suit the lifestyle you can actually afford.


The average family spends around $11,000 per year on groceries. With some intelligent choices and discipline it is possible to save each week and give your family a Christmas that’s already paid for thanks to your new clever shopping habits.


It doesn’t hurt to take some pressure off yourself by reducing your living expenses.


Tip #3: Don’t Make Big Decisions Quickly


We all like shiny new toys to show-off to our neighbours, family and friends. It is liberating to have that ‘something’ we have always wanted and felt we never could get. Sales assistants are always so positive about our ability to pay for it too, often reducing payments to a ridiculously small equivalent. For example, they may say, “You can pay for this new television over the next 5 years for less than the price of a cup of coffee each day.”


That kind of statement gets you more excited and on an emotional high. The sales assistant has taken away the guilt by explaining you can afford it. This may be a huge revelation to you since the last time you looked at your budget you were short every quarter for your power bill, but now some genius at an electronics retailer has found you an imaginary source of funds.


It sounds humorous, but it is very true. Once we are emotionally invested in going ahead with a big purchase we have been putting off for a long time it is hard to pull back when we need to. This is especially true when we are encouraged by people who don’t really have our welfare at heart.


Salespeople are so highly trained these days, often being experts in the psychology of how people buy. They know they are more likely to have you sign-up while you are there. If you leave they know there is very little chance of seeing you back. On top of your emotional investment in going ahead salespeople are experts at piling on the pressure to get you to buy. You will hear them say things like, “That price is only available today as they sale ends today,” or, “That price is a one-off!”


This is likely to push you into making a quick decision on-the-spot. That’s the worst kind of decision to make and usually ends-up costing you a whole bundle of cash. Worse than that, you and your family can find yourselves struggling for years because of one quick decision on a big purchase.


Tip #4: Save for Big Ticket Consumer Purchases


Instead of buying a big ticket consumer purchase like a new lounge suite, television, or even a car using credit, save for your purchase instead. Many of you are probably now shaking your head and thinking, “It can’t be done!”


If that’s true can you really afford it? Or, is using credit so embedded into our culture now that to think of buying non-appreciating assets like bedding, furniture, electronic goods and cars using any other type of funding too socially unacceptable.


Think about that! Who is paying for it? You, right? So, if you’re paying for it shouldn’t you be able to do so on terms which are most favourable to you. Those terms would not involve using credit.


The best thing about saving and purchasing, rather than buying now and paying for it out of future earnings that you can’t yet determine, is the great sense of satisfaction when you finally do buy something you have been diligently putting money away for, for a long time. You know you really have earned it!!


If you’re thinking you can’t do this for a car purchase you may be wrong.


The average buying cycle for a car, for example, is approximately 5 years. Saving $100 per week for sixty months (5 years) will give you over $25,000 with which to buy a car. If you placed that into an interest-bearing account before you needed to use it you would be in an even better position.


It is possible to get around needing to use credit.


Tip # 5: Don’t Try and Keep Up with the Jones’s


This is probably the worst way to go out in a financial suicide. You see your neighbour with a brand new car so the Green-Eyed Monster tells you to upgrade your car too. Or maybe you have friends who recently built an extension to their house, so you want to keep up with them and add to your home now too.


Before you embark on something that’s going to really cost you, just stop and think, “Do I really need to be doing this?” Or, ask yourself an even more searching question: “Why am I doing this?” It doesn’t hurt to closely examine your motives for buying things you may not really need.


Jealousy and competitiveness can also often lead us to make irrational decisions. If you really knew the true cost your neighbour pays to have that shiny new object in the driveway, you honestly wouldn’t want it.


I’m not talking just about the cost of buying it, paying it off, servicing it, and registering and insuring it. There other costs we don’t get to see, but are no less real and harmful to people.


For instance, more than 60% of divorces are caused by financial problems. Instead of death do us part, it’s more like until mortgage repossession do us part. This is a tragically real social problem that is getting worse. Too often children are collateral damage to adults who couldn’t show restraint.


Extra pressure on your family budget can lead to quarrels with your spouse. With both of you feeling less secure with the budget pressure of an unnecessary large expenditure with future recurring costs, it is not unusual for couples to feel stressed-out.


If the Jones’s have bought something they can’t really afford be glad you are not them!


Tip #6: Keep Fit and Healthy


Quite apart from tip #1 (habits) this tip for achieving financial freedom goes further.


We are sometimes so busy we don’t even notice our health becoming a problem. As we work harder and harder, giving more time to the office and less to home life and much-needed downtime, we lay the foundations for ill-health.


Failure to get adequate rest can take an enormous toll on the body. Over time this can predispose us to high blood pressure and risk of stroke, diabetes, weight gain, insulin resistance, sleep disorders, memory problems, and bacterial and viral infections. By failing to rest properly you are inviting health problems into your life.


Unexpected health issues have a nasty habit of turning up when you are least able to deal with them. This can really cost you!


Imagine needing to be away from work because you physically can’t work. You lose your pay, your lifestyle, and too often your house and everything else. It happens more often than you think.


The best cure for this situation is prevention. If you pay attention to living healthy and having regular check-ups, you can stay vital and productive throughout your middle and senior years. This can have the best effect on your finances of anything else you can do.


Tip #7: Budget and Track Everything


Now that you have the rest of your life managed, it’s time to turn some attention to money management – or more appropriately, money measurement.


An old saying tells us that “We can’t manage something if we can’t measure it.”


This tip is all about measuring and tracking your finances. EVERY ASPECT.


Approach this well and you will know at any moment where your money is at. You will know with pinpoint accuracy where you are heading. You will discover those things that need changing because they will be staring you in the face.


The best way is to find some software or other tools to help you create and manage your budget. There is a ton of budgeting software out there. The basic criteria it needs to meet to be useful for you is: it must allow you to create a budget; then it should allow you to record EVERY transaction and categorize them; ideally it should have an expenditure tracking capability so you can compare actual expenditure to budgeted expenditure; it should allow you to record and track asset valuations; plus, it will be helpful if it has a net worth calculator and debt reduction planner. Bill scheduling and reminders will also help you.


If you can’t get your hands on something like this is for now it will be just fine if you make a start with your budget by using a spreadsheet. On one tab you could have a cashbook with a running balance showing you where your bank balance is now. Other tabs may track asset values, bill payment schedules, a debt reduction plan, and a comparison table with your actual versus budgeted spending.


A good habit to get into is to file everything appropriately. Many times debt counsellors visit to help people with their goals to get out of debt and better handle their finances only to find people don’t have or can’t find documents. Very often just properly filing and making notes of the correspondence you receive is all you may need to do to be better organized and on top of your finances.


Know when the due date is for every bill you pay and track and record your bill payments. Many businesses charge late fees and penalties. This is one category of expenditure that will never be in your budget, so, will often be a real drag on you meeting your financial goals. Have the attitude that you won’t even give them a chance and be on time with every payment.


Plan to save. Set-up an automatic transfer to a separate bank account you don’t touch for day-to-day items. You may even arrange with your pay officer to send an amount of money each week to a second bank account. Whichever way you choose to do it, make sure you are saving money every pay cycle.


Have goals that drive you to keep your budget performing for you. Often targeting a savings amount is one way to keep you on-target. Net worth targets and debt reduction goals can also enliven what is, for many people, a boring subject.


You are looking for more information on healthy living and healthy finance, then go to Living Health Shack on FaceBook and click “Like” on the page.



7 Tips On How To Achieve Financial Freedom

7 Tips On How To Achieve Financial Freedom

As the world continues to recover from the Global Financial Crises, with many people having lost significant income as well as wealth, here are 7 tips of importance in learning how to achieve Financial Freedom. Recovery has been a difficult process and across the world worry about a second, related, financial crisis has many people concerned.


You don’t have to wait for trouble to strike before doing something to protect you and your family. The key is in trying to become financially free. The following 7 tips will give you some ideas that you can use immediately to get some order to your financial chaos – or at least mediocrity.


Tip #1: Habits Matter – Create Good Ones


One of the first things to realize about overcoming entrenched problems is that they didn’t get there by accident. Over a long period of time – possibly years – you may have fallen into bad habits. You likely weren’t even aware that bad habits were overtaking your life.


Bad habits can grow like weeds in your life. Before you realize it you may have a bad habit in almost every area of your life. You stop exercising, eat the wrong food, spend too much time partying, over-spend and stop tracking your budget.


Start good habits now.


Get a good night’s rest so you wake-up with energy and a good, positive attitude for the following day’s work. Eat good wholesome food; plenty of fruit and vegetables and lean meat. Drink a minimum of 8-10 glasses of water per day.


Stop smoking. Reduce alcohol consumption. Stop negative thinking.  Learn to focus your thoughts. Practice creative visualization. Meditate. Pray.


Thoughts are powerful. They can create or destroy. If you are in the habit of thinking negatively do something about it because it can impede you from achieving everything you want in life, including your goal to be financially free.


Begin the habit now to track every incoming and outgoing dollar every day. If you don’t respect the honour of having the resources you are entrusted with now, how can you be a good steward of even more resources?


Tip #2: Little Things Matter – Be Aware of the Small Things


Sometimes it is not even the big decisions we mess up. Failing to pay enough attention to the small things that eat into our bottom line is equally as bad. You may be stuck in a habit of buying the things you always buy, when the best approach is to always shop for value.


The family groceries shop is one area that most people can save a ton of money. By all means buy brands if they are the absolute cheapest or the very best value for money. As soon as you realize that brand name shopping comes at a price you will either find the extra to pay for more expensive brands by somehow increasing your income, or if that proves too difficult, you will cut your grocery budget to suit the lifestyle you can actually afford.


The average family spends around $11,000 per year on groceries. With some intelligent choices and discipline it is possible to save each week and give your family a Christmas that’s already paid for thanks to your new clever shopping habits.


It doesn’t hurt to take some pressure off yourself by reducing your living expenses.


Tip #3: Don’t Make Big Decisions Quickly


We all like shiny new toys to show-off to our neighbours, family and friends. It is liberating to have that ‘something’ we have always wanted and felt we never could get. Sales assistants are always so positive about our ability to pay for it too, often reducing payments to a ridiculously small equivalent. For example, they may say, “You can pay for this new television over the next 5 years for less than the price of a cup of coffee each day.”


That kind of statement gets you more excited and on an emotional high. The sales assistant has taken away the guilt by explaining you can afford it. This may be a huge revelation to you since the last time you looked at your budget you were short every quarter for your power bill, but now some genius at an electronics retailer has found you an imaginary source of funds.


It sounds humorous, but it is very true. Once we are emotionally invested in going ahead with a big purchase we have been putting off for a long time it is hard to pull back when we need to. This is especially true when we are encouraged by people who don’t really have our welfare at heart.


Salespeople are so highly trained these days, often being experts in the psychology of how people buy. They know they are more likely to have you sign-up while you are there. If you leave they know there is very little chance of seeing you back. On top of your emotional investment in going ahead salespeople are experts at piling on the pressure to get you to buy. You will hear them say things like, “That price is only available today as they sale ends today,” or, “That price is a one-off!”


This is likely to push you into making a quick decision on-the-spot. That’s the worst kind of decision to make and usually ends-up costing you a whole bundle of cash. Worse than that, you and your family can find yourselves struggling for years because of one quick decision on a big purchase.


Tip #4: Save for Big Ticket Consumer Purchases


Instead of buying a big ticket consumer purchase like a new lounge suite, television, or even a car using credit, save for your purchase instead. Many of you are probably now shaking your head and thinking, “It can’t be done!”


If that’s true can you really afford it? Or, is using credit so embedded into our culture now that to think of buying non-appreciating assets like bedding, furniture, electronic goods and cars using any other type of funding too socially unacceptable.


Think about that! Who is paying for it? You, right? So, if you’re paying for it shouldn’t you be able to do so on terms which are most favourable to you. Those terms would not involve using credit.


The best thing about saving and purchasing, rather than buying now and paying for it out of future earnings that you can’t yet determine, is the great sense of satisfaction when you finally do buy something you have been diligently putting money away for, for a long time. You know you really have earned it!!


If you’re thinking you can’t do this for a car purchase you may be wrong.


The average buying cycle for a car, for example, is approximately 5 years. Saving $100 per week for sixty months (5 years) will give you over $25,000 with which to buy a car. If you placed that into an interest-bearing account before you needed to use it you would be in an even better position.


It is possible to get around needing to use credit.


Tip # 5: Don’t Try and Keep Up with the Jones’s


This is probably the worst way to go out in a financial suicide. You see your neighbour with a brand new car so the Green-Eyed Monster tells you to upgrade your car too. Or maybe you have friends who recently built an extension to their house, so you want to keep up with them and add to your home now too.


Before you embark on something that’s going to really cost you, just stop and think, “Do I really need to be doing this?” Or, ask yourself an even more searching question: “Why am I doing this?” It doesn’t hurt to closely examine your motives for buying things you may not really need.


Jealousy and competitiveness can also often lead us to make irrational decisions. If you really knew the true cost your neighbour pays to have that shiny new object in the driveway, you honestly wouldn’t want it.


I’m not talking just about the cost of buying it, paying it off, servicing it, and registering and insuring it. There other costs we don’t get to see, but are no less real and harmful to people.


For instance, more than 60% of divorces are caused by financial problems. Instead of death do us part, it’s more like until mortgage repossession do us part. This is a tragically real social problem that is getting worse. Too often children are collateral damage to adults who couldn’t show restraint.


Extra pressure on your family budget can lead to quarrels with your spouse. With both of you feeling less secure with the budget pressure of an unnecessary large expenditure with future recurring costs, it is not unusual for couples to feel stressed-out.


If the Jones’s have bought something they can’t really afford be glad you are not them!


Tip #6: Keep Fit and Healthy


Quite apart from tip #1 (habits) this tip for achieving financial freedom goes further.


We are sometimes so busy we don’t even notice our health becoming a problem. As we work harder and harder, giving more time to the office and less to home life and much-needed downtime, we lay the foundations for ill-health.


Failure to get adequate rest can take an enormous toll on the body. Over time this can predispose us to high blood pressure and risk of stroke, diabetes, weight gain, insulin resistance, sleep disorders, memory problems, and bacterial and viral infections. By failing to rest properly you are inviting health problems into your life.


Unexpected health issues have a nasty habit of turning up when you are least able to deal with them. This can really cost you!


Imagine needing to be away from work because you physically can’t work. You lose your pay, your lifestyle, and too often your house and everything else. It happens more often than you think.


The best cure for this situation is prevention. If you pay attention to living healthy and having regular check-ups, you can stay vital and productive throughout your middle and senior years. This can have the best effect on your finances of anything else you can do.


Tip #7: Budget and Track Everything


Now that you have the rest of your life managed, it’s time to turn some attention to money management – or more appropriately, money measurement.


An old saying tells us that “We can’t manage something if we can’t measure it.”


This tip is all about measuring and tracking your finances. EVERY ASPECT.


Approach this well and you will know at any moment where your money is at. You will know with pinpoint accuracy where you are heading. You will discover those things that need changing because they will be staring you in the face.


The best way is to find some software or other tools to help you create and manage your budget. There is a ton of budgeting software out there. The basic criteria it needs to meet to be useful for you is: it must allow you to create a budget; then it should allow you to record EVERY transaction and categorize them; ideally it should have an expenditure tracking capability so you can compare actual expenditure to budgeted expenditure; it should allow you to record and track asset valuations; plus, it will be helpful if it has a net worth calculator and debt reduction planner. Bill scheduling and reminders will also help you.


If you can’t get your hands on something like this is for now it will be just fine if you make a start with your budget by using a spreadsheet. On one tab you could have a cashbook with a running balance showing you where your bank balance is now. Other tabs may track asset values, bill payment schedules, a debt reduction plan, and a comparison table with your actual versus budgeted spending.


A good habit to get into is to file everything appropriately. Many times debt counsellors visit to help people with their goals to get out of debt and better handle their finances only to find people don’t have or can’t find documents. Very often just properly filing and making notes of the correspondence you receive is all you may need to do to be better organized and on top of your finances.


Know when the due date is for every bill you pay and track and record your bill payments. Many businesses charge late fees and penalties. This is one category of expenditure that will never be in your budget, so, will often be a real drag on you meeting your financial goals. Have the attitude that you won’t even give them a chance and be on time with every payment.


Plan to save. Set-up an automatic transfer to a separate bank account you don’t touch for day-to-day items. You may even arrange with your pay officer to send an amount of money each week to a second bank account. Whichever way you choose to do it, make sure you are saving money every pay cycle.


Have goals that drive you to keep your budget performing for you. Often targeting a savings amount is one way to keep you on-target. Net worth targets and debt reduction goals can also enliven what is, for many people, a boring subject.


You are looking for more information on healthy living and healthy finance, then go to Living Health Shack on FaceBook and click “Like” on the page.



7 Tips On How To Achieve Financial Freedom

Sunday 2 October 2016

Your First Steps To Achieving Financial Independence

We’ve all heard about it; on television current affairs programs and in esteemed finance magazines such as Money, but, how exactly, do start our first steps about achieving financial independence?


We live in unusual times. A unique set of challenges faces the West which many societies have been totally unprepared for. Over the past 30 years there has been a discernible retreat by the state from activities we all thought were the job of government. This is posing difficulties for societies around the globe as there is apparently nothing, in many cases, to fill the vacuum left by retreating government economic policies.


In particular, governments around the world have been disassembling the welfare state, selling off hospitals, closing public schools, limiting free access to healthcare and education, and in many cases abandoning people who need help because there is no longer ‘political support’ for intervening.


The shock in all of this is that many people signed-up to a model of society which was predicated on an interventionist state that would supply education, healthcare and welfare. Having worked for 40 years they have reached the end of their working life to discover there is no pension – or it is too little to live on – and there is no access to healthcare should they need treatment for a serious condition quickly.


The idea behind privatization, deregulation, reducing government spending, and introducing a user-pays system of access to healthcare, education and welfare, is to spark an explosion of economic activity that is so large, all-encompassing and profound, that no one is left behind and all have access to so much wealth and income that the state needn’t bother getting involved.


For most it simply doesn’t work that way. It is a utopian ideal beyond the reach of all but an absolute minority.


In recent decades there has been a consumer-led push to increase the financial literacy of people from the bottom-up; urging people to start to learn how to effectively manage their own resources. The ultimate goal of this has been to help people to learn how to be self-sufficient.


Financial Independence has become a term that has taken over public opinion. It is short-hand for being able to manage one’s own financial life. Knowing how to budget, how to buy smart, and how to plan for all incoming flows of money and outgoing expenses over a lifetime, is core knowledge to be able to really get a financial head-start in life.


There are, firstly, two aspects to Financial Independence that a person needs to address. The most commonly dealt with part is expense control and reduction. This is done through setting a rigorous budget that has targets for income, all classes and categories of expenditure, and savings. As someone becomes more financially stable the budget will also collect information and statistics on the purchases of assets for investment and the flows in and out of the budget for these.


A large part of budgeting is all about expense reduction and debt reduction. Debt reduction is where a person systematically organizes their financial affairs in order to eliminate debt from their life as quickly as possible. This is the ‘Debt Snowball’ that Dave Ramsey, author of Total Money Makeover, has popularized, and which has inspired many fan videos like this one.


What is so inspiring about seeing people like Jackie and Chris (from the above linked video) tackle their finances and wrestle their debt down to manageable levels is being a witness to ordinary, everyday people actually succeeding. It can be done!


The other aspect of Financial Independence is the end result. Achieving Financial Independence is where you are able to live without actively working to pay for your living expenses. Very often this is able to happen because of passive income sourced from investments that produce steady income, or businesses that don’t need you to be working in the business and generate income as you sleep.


A key feature of Financial Independence relates to income. To achieve Financial Independence you need to not only focus on controlling and reducing expenses and eliminating debt, but you will also need to find out how to increases your income. Saving as much as you can and investing for passive income has a huge role to play in reaching Financial Independence.


For those who are prepared to take calculated risks it may also be possible for you to create passive income from business. Every little bit extra counts.


Take a look at where you can sharpen your financial discipline. Your Financial Freedom is just around the corner.


You are looking for more information on healthy living and healthy finance, then go to Living Health Shack on FaceBook and click “Like” on the page.



Your First Steps To Achieving Financial Independence

Achieving Financial Freedom Through Financial Planning

Some people struggle to get ahead their whole life, whereas other people are achieving financial freedom through good Financial Planning. What is Financial Planning and how can it help you become financially free?


Most people go through life with what seems to be a love-hate relationship with money. People would swear that MONEY seems to HATE THEM; so hard, it seems it is, to get their head out in front and stay there. People wonder when the bills stop and the living begins!


It doesn’t have to be this way!


An old boss once said, “You can’t manage what you can’t measure.”


When it comes to finances this is true…in every way you could possibly imagine!


If you have ever had that feeling that financial problems just keep coming and there seems to be nothing you can do to change things, this blog post should give you hope as well as some ideas you can use right away.


One thing you would probably already agree with (if you’ve experienced financial trouble) is that IF YOU DON’T CONTROL MONEY IT WILL CONTROL YOU.


That realization alone is the beginning of the end of your money problems. Even though you have probably had some really dark moments where you thought that you and money would never get along, coming to terms with the reality that you need to be driving this money ‘thing’ is the start of financial wisdom.


Having now realized this, “Where to now?” you may be asking.


Taming the MONEY BEAST requires planning. Financial Planning to be exact.


Financial Planning involves a detailed analysis of someone’s current financial state taking into account their income, their financial cash-flows, their liabilities, their assets, the impact of taxes on their net worth, and their eligibility for transfer payments. Other things like insurance, life insurance and assurance is also looked at.


The analysis is very rigorous and detailed. At the end of this a good picture is able to be drawn of an individual’s situation. The better and more detailed the picture is the more able Financial Planners are to help someone.


The next step is the plan.


A Financial Plan takes into consideration your goals and desires over your financial life – all the way to retirement. Do you want to save for a house? Are you interested in becoming a real estate investor? Have you always wanted to own a share portfolio? What about planning for when you are not here, or if you become injured after a major accident?


Financial Planning looks at all of this. Every area of your financial life is covered. Should you be carrying too much debt a plan will be set to get out of debt. A daily, weekly and monthly budget will be created for you to follow. Regular meetings with your advisor will ensure you are on the path to reaching your goals. Even if you need to adjust your plan, at least you will have the satisfaction of knowing that you are on your way to financial freedom.


Imagine how you feel everyday knowing that YOU ARE now IN CONTROL?


For a free personal budgeting template to help you move closer to your goal of financial freedom click here.


You are looking for more information on healthy living and healthy finance, then go to Living Health Shack on FaceBook and click “Like” on the page.



Achieving Financial Freedom Through Financial Planning

Achieving Financial Freedom Through Financial Planning

Some people struggle to get ahead their whole life, whereas other people are achieving financial freedom through good Financial Planning. What is Financial Planning and how can it help you become financially free?


Most people go through life with what seems to be a love-hate relationship with money. People would swear that MONEY seems to HATE THEM; so hard, it seems it is, to get their head out in front and stay there. People wonder when the bills stop and the living begins!


It doesn’t have to be this way!


An old boss once said, “You can’t manage what you can’t measure.”


When it comes to finances this is true…in every way you could possibly imagine!


If you have ever had that feeling that financial problems just keep coming and there seems to be nothing you can do to change things, this blog post should give you hope as well as some ideas you can use right away.


One thing you would probably already agree with (if you’ve experienced financial trouble) is that IF YOU DON’T CONTROL MONEY IT WILL CONTROL YOU.


That realization alone is the beginning of the end of your money problems. Even though you have probably had some really dark moments where you thought that you and money would never get along, coming to terms with the reality that you need to be driving this money ‘thing’ is the start of financial wisdom.


Having now realized this, “Where to now?” you may be asking.


Taming the MONEY BEAST requires planning. Financial Planning to be exact.


Financial Planning involves a detailed analysis of someone’s current financial state taking into account their income, their financial cash-flows, their liabilities, their assets, the impact of taxes on their net worth, and their eligibility for transfer payments. Other things like insurance, life insurance and assurance is also looked at.


The analysis is very rigorous and detailed. At the end of this a good picture is able to be drawn of an individual’s situation. The better and more detailed the picture is the more able Financial Planners are to help someone.


The next step is the plan.


A Financial Plan takes into consideration your goals and desires over your financial life – all the way to retirement. Do you want to save for a house? Are you interested in becoming a real estate investor? Have you always wanted to own a share portfolio? What about planning for when you are not here, or if you become injured after a major accident?


Financial Planning looks at all of this. Every area of your financial life is covered. Should you be carrying too much debt a plan will be set to get out of debt. A daily, weekly and monthly budget will be created for you to follow. Regular meetings with your advisor will ensure you are on the path to reaching your goals. Even if you need to adjust your plan, at least you will have the satisfaction of knowing that you are on your way to financial freedom.


Imagine how you feel everyday knowing that YOU ARE now IN CONTROL?


For a free personal budgeting template to help you move closer to your goal of financial freedom click here.


You are looking for more information on healthy living and healthy finance, then go to Living Health Shack on FaceBook and click “Like” on the page.



Achieving Financial Freedom Through Financial Planning