Detox

Detox your finances.

Whatever our attidude to money it plays a pivotal role in our lives. Money determines our moods,influences our relationships and even dictates our choices.

For many of us life can be a constant juggling act which can end up in disarray and divorce. The world has been obsessed with debt over the last 25 years and it is coming home to roost. The recent financial meltdown has been caused by too much debt that has fuelled the growth in asset prices that many investors have confused as additional income and spent the equity.  

Before we can heal ourselves from the toxins of two much debt we need to visit the confessional and come clean with what we owe.

Undergoing a financial detox is similar to the more common diet detox in that you rid yourself of those "money toxins" like high interest rate loans,shonky credit cards, unmanageable personal loans and financial arrangements that are unhealthy on your lifestyle.

A "Financial Choice Detox" will cleanse your finances and consolidate your position so that you can lead a happier, healthier financial life.This is where the skills of a Financial Choice adviser are needed.

Some of the secrets we use to improve our clients financial position are:

Face your credit card demons.
As a generation we are carrying more credit card debt that at any time in our nations history. Target your most expensive credit card and pay it off the quickest. Do not draw cash from your credit card at an ATM.

Resist impulse buying.

There is psychological proof that going on a shopping spree gives us a short-term high. If you are like this then you need to train yourself to create a list of the "must haves" and wait 28 days before you actually purchase. Your implulse would have died down by then.

Update your salary.

Book a review with your boss and try to convince them that you are worth more. Guess what? you will know pretty soon if you are valued.

Get rid of your clutter.

Ebay your old clothes, CD's and the garage of junk. The money raised goes straight off the credit card with the highest interest rate. You can use it to pay for that special thing that is on your impulse list after 28 days.

Become the discerning "tipper".

Many people are habitual tippers because they feel obliged no matter how poor the service or the food. This 10 or 20% can go straight off the card rather than on it.

Demand loyalty from your card.

Frequent flyer programs around the world have measured the impact that a return customer has on the bottom line of a business. Customers don't keep coming back because of the price- they are looking for a share of that distribution margin that is already priced into the goods or services. The difference between a good credit card and a bad credit card is the additional rewards that are paid by vendors keen to win your repeat business.

Don't be afraid of saying NO! Move on after your decisions.

Don't regret a decision. You always gain strength from saying no. We live in a very polite world where many people feel embarassed to say no. They think the person will take it personally.