Christmas, and the start of a new year, has once again been and gone. After these times of reflection, festivities, family, fun and great times, let’s take some time to consider the idea that an excess of anything has consequences.
Too much food? A tummy ache… or maybe an extra notch on the belt line. Too much alcohol? A fuzzy head the next day or maybe some family amends to make.
But spending too much? That’s not something that can be solved with a Panadol and a lay down.
In Financially Fit Bootcamp, Dr. Tony reminds us not to take a break during this part of the year. In fact, discipline is required now more than ever.
So, with the holiday season now over for 2016, let’s stop to reflect and put some healthy financial habits in place for 2017.
Creating Your Financial Safety Net
One of the most important steps to take in 2017 is to create your Financial Safety Net—if you haven’t already. Dr. Tony talks about this in Module Four, but I’m going to provide a brief explanation here of what it takes to Protect Yourself and build a Financial Safety Net for you and your family.
When going through the Four Money Principles, many people want to avoid thinking about putting protections in place. Either they prefer to believe nothing bad will ever happen to them, or they simply don’t want to face the truth that “Sometimes bad things happen to good people.”
But a Financial Safety Net isn’t something to catch you when you’ve had a few too many drinks. A safety net underpins your entire financial plan and journey. It’s a critical piece of your financial puzzle we hope you never have to use but is always there providing protection.
The challenge is deciding how much is enough to provide the security you need.
How Much Insurance Do You Need?
Dr. Tony is the co-founder of MindShift.money and the best-selling author of three books on personal and business finances. Having achieved Financial Freedom at 27, Dr. Tony believes that through Financially Fit Bootcamp and Cash Flow Cure everyone can get there. He has made it his life’s mission to help others live a life where their money works for them—not the other way around.