Raising a family can be costly but there are still ways you can manage to save. Managing your family’s finances needn’t be a complicated affair, sometimes the simplest tips can make a difference to your
Jill Kerby has been a successful personal finance journalist for over 25 years. She has worked for The Irish Times, The Sunday Times, Business and Finance magazine and has been a regular commentator on radio and television. She edited Irish Pensions magazine for the IAPF for 10 years and her popular MoneyTimes column appears weekly in a dozen regional newspapers. She is an outspoken consumer advocate and educator, so I was delighted that she agreed to chat to me about life, money and happiness or even the “absence of unhappiness” as she likes to term it.
Bruce Kluk runs a boutique financial advisory business, nestled in the heart of a quiet leafy street in beautiful Double Bay, Sydney Australia. Yet from his third floor office looking on to the park, his firms manages the financial affairs of some of the most successful people in Australia. They have come to Bruce and his team for guidance, ignoring the pleas of advisers from large financial institutions and the super slick private banks.
When I first conceived of this idea to interview successful people about their happiness, Vincent O’Connor my former headmaster at the Newmarket boys school, Cork was first on the list. A person that I don’t think I have met his peer in the 30 odd years that have passed. His primary school 5th and 6th classes were more akin to going to a university tutorial with an enlightened lecturer. His broad based approach to education inspired his students to be inquisitive and to challenge themselves.
In my profession, when I mention the topic of retirement to people it can often generates a mix of resignation/denial or fear. Many us will have seen older family and friends with declining health, unattractive lifestyles and living on reduced incomes. Unsurprisingly many of us hate thinking about retirement, never mind planning for it.
Often when I introduce the idea of building a financial plan to people it is regard as an alien concept, but in fact, it is one of the key steps to successfully building your wealth. That is not to say that people do not have financial plans but very few people have it written down and even less have crunched the numbers.
Given the very recent challenging economic and operating environment the focus for many self employed is on business survival rather than wealth accumulation. Hence personal financial planning has taken a back seat to the everyday challenges of running a business in a recessionary environment.