About one in six Brits has received bad financial advice from their friends and family and have suffered financially and emotionally as a result, according to new research from the specialist mortgage provider (Birmingham Midshires)Almost one in five (17%) wasted a lot of time in the process. Just over one in 10 (12%) admitted that their relationship with the person who gave the advice had deteriorated. A minority of those questioned (4%) lost an asset such as a house, a car or another belonging of value.(Read the full article by Lorna Bourke here on CityWire .)
The results of this study reinforces the message of the “Dazza” commercials run by the Financial Planning Association of Australia in 2005. (View all three videos here.)
Following advice from unqualified people, no matter how well meaning, is high likely to be inappropriate for you specifically.
Here are some reasons why:
The unqualified person may have much broader knowledge than you but it is probably not broad enough. They have probably only researched strategies and products that broadly fit their needs and goals.
On the surface of what you each publicly share there may appear to be similarities between your situations. But it is in the depths that the subtle nuances appear. In truth your needs are probably vastly different to theirs.
Human nature results in us generally crowing about the upside and the benefits while glossing over the potential downside and risks. You need to have a full picture and make an informed decision.
Do yourself a favour – save time, emotional energy and money by seeking good advice from a fully qualified and licenced financial adviser.
Wow, the Christmas decorations are up and about in the shopping centres and even through Perth city centre. Christmas is a terrific fun time, but historically it also is a time where we not only eat and party to excess but we seem to spend to excess. Eating to excess leaves us feeling terrible and spending to excess can leave us with a big financial hangover that can last for weeks, not just one day.
With a bit of forethought it does not have to be that way. In this interview on Wake Up Perth I reveal fun and quick ways to avoid the New Year Debt Hangover.
If you have know of other great ways to cut the costs of Christmas whilst boosting the fun please leave your suggestions as a comment below.
Have you ever wondered why some people seem to have most of the wealth and continue to acquire more, but you don’t appear to be getting ahead so quickly? If so, it could be your money mindset.
In this interview on the TV show Wake Up! WA I reveal how your beliefs, values and thoughts about money act as obstacles to you acquiring greater prosperity and wealth. I also share what to do about it.
About a year ago during a client meeting a young lady in her mid-twenties asked me, “Matt, why are we talking about all of these dreams and goals? Is it realistic to think you can achieve them?”
Absolutely you can! You can achieve whatever you want, and there is lots of evidence to that effect.
To illustrate this point watch this video interview with Allan Pease, the international expert and best selling author also known as “Mr Body Language”. In this candid interview with me on “Wake Up! WA” , Pease reveals how he has defied the prognosis of scores of medical experts to survive cancer, many years longer than predicted (and still going strong). Plus Pease has achieved massive success in many areas of his life.
Allan Pease has given many media interviews during his 30 year career but until this interview had never revealed the three key ingredients of how he achieved his phenomenal success.
To discover how you can achieve whatever it is that you dream of watch the video now: