Take the CleanSweep test on money

Answer each question. If true, tick the box. Be rigorous; be a hard grader. If the statement is sometimes or usually true please DO NOT tick the box until the statement is virtually always true for you.  (No "credit" until it is really true!) If the statement does not apply to you, tick the box. If the statement will never be true for you, tick the box. (You get "credit" for it because it does not apply or will never happen.) And, you may change any statement to fit your situation better.  How many boxes can you tick?

 

I currently save at least 10% of my income.

I pay my bills on time, virtually always.

My income source/revenue base is stable and predictable.

I know how much I must have to be minimally financially independent   and I have a plan to get there.

I have returned or made-good-on any money I borrowed.

I have written agreements and am current with payments to individuals or companies to whom  I owe money.

I have 6 months' living expenses in a money market-type account.

I live on a weekly budget which allows me to save and not suffer.

All my tax returns have been filed and all my taxes have been paid.

I currently live well, within my means.

I have excellent medical insurance.

My assets (car, home, possessions, treasures) are well-insured.

I have a financial plan for the next year.

I have no legal clouds hanging over me.

My will is up-to-date and accurate.

Any parking tickets or child support obligations are paid and current.

My investments do not keep me awake at night.

I know how much I am worth.

I am on a career/professional/business track which is or will soon be financially and personally rewarding.

My earnings are commensurate with the effort I put into my job.

I have no "loose ends" at work.

I  am in relationship with people who can assist in my career/professional development.

I rarely miss work due to illness.

I am putting aside enough money each month to reach financial independence.

My earnings outpace inflation, consistently.

There are 25 boxes - how many did you tick?

SCORING

 

Initial scores for the first-time participant range, on average, between 7 - 17 points out of the 25 points possible. Most people who are "using" our financial coaching programs increase their scores between 2 and 6 points per month. Points are added more quickly at first, slowing down significantly after one has added 5 or so points. Major plateau areas are at 18, 20 and 22. Those last few are the ones which are most worth working on.

What makes the Money for Life Program different?

Most people with money problems try to fix their problems from the outside, for example by setting up a budget.  Unfortunately many financial coaching programs do the same thing.  Sad to say the outcome is much the same as many fad diets - starting off with the best of intentions, staying with it for a while, dropping off and finding themselves back in much the same place that they started - maybe even with less money than they started out with.  Really a bit like the New Year resolutions that rarely survive until Easter!

So why is it that these programs so often fail?  Because they deal with the symptoms (I don't have enough money or I want to lose weight) and not the underlying causes.

The Money for Life Program recognises that while the symptoms of not having enough money are painful and important, no lasting change will happen unless the underlying causes are uncovered, recognised, understood and dealt with.  That's when we have true and permanent change.

So the first part of the Money for Life Program focuses on and resolves those internal issues that have made you less effective than you would like to be around money.  At the same time we work directly on your personal budget so you move away from not having enough money to being able to save on a regular basis while reducing your debts.  The second part of the program strengthens your financial literacy so by the end of the Program you are fully empowered financially.  This means that you are completely in control of your money and in any financial situation your know what questions to ask, are able to evaluate the answers and make the right decision for you.

Now interestingly, there are often unexpected side benefits from the program: relationships improve, health improves, changes happen at work and generally people feel much better about themselves and happier in their lives.

Should I sell my property by auction?

Auctions are popular across Australia because the process takes price out of the equation for the pre-auction period, leaving buyers to evaluate the property independent of price. The auction process then provides buyers and sellers with a good idea of what the market is prepared to pay. With a private sale, vendors run the risk that buyers will turn their back on a property they are interested in because the initial asking price is too high. This is why a spot-on asking price is crucial when selling by private sale. Like any sales method, there are pros and cons to selling or buying a property via auction – and issues that you should be aware of. 

Upsides of selling via auction 
 
With some property markets still slowing and showing lower than previous clearance rates, it is natural that vendors are questioning the advantage of selling through auction. While auctions are not ideal for all properties, a slow market is no reason to shun the system.

Many high-quality, inner-city properties are still sold by public auction today. Consider also that properties passed in at auction should not be viewed as failures; auction clearance rates are not necessarily accurate reflections of sales success. This is because the auction process does not stop when the hammer comes down – even when a property is passed-in, it will usually have generated enough interest throughout its campaign to attract offers afterwards. 

Again, the auction process highlights current market value and buyers and sellers can come to an agreement in a faster period of time than through a private sale. The deadline of a four-week auction campaign tends to force buyers into make a decision in a tighter timeframe than a private sale situation: an auction creates an unconditional sale where there is no cooling-off period applicable and no terms and/or special conditions can be negotiated. You are also likely to sell your property faster through the auction process, as property sold this way typically has fewer ‘days on market’ than other private treaty methods of sale. 

Downsides of selling via auction 
 
In general, auctions have a more expensive advertising campaign than private sales, with a $5,000 to $10,000 average minimum budget. If the property does not sell, the vendor is still responsible for paying these costs from their own pocket. Agents can also pressure vendors to dramatically reduce their reserve price during the high-pressure environment of an auction: the vendor may or not be pleased with their decision in a more ‘rational’ moment. The auction process may not suit private people, who are uncomfortable having their home publicised across the internet and other advertising media, or hosting public ‘open for inspections’ that can also raise security as well as privacy issues.

Pros for buying via auction

Auction clearance rates are generally still lower in all capital cities compared with a year ago – which means there is now a greater opportunity to negotiate after auction below the vendor’s reserve price. The continuing uncertainties in the global and local economy have also dampened demand for property. This means fewer bidders (or competition) at auctions. Vendors’ prices have typically had to be lowered. This means that overpriced properties will linger and the longer the property is on the market, the more advertising expenses the seller will incur, not to mention an increased pressure to reduce the price.

Cons for buying via auction
 
As the market recovers, good quality properties are in high demand. They can create intense competition and sell at auction for high prices – especially in well-located properties in blue chip, inner suburban areas of most capital cities. Buyers can waste money commissioning building reports and having contracts reviewed professionally and then find the property sells well above their budget anyway. Vendor bids are unlimited in a number of states so that the auctioneer can push the price up towards the vendor’s reserve.
Money for Life website 

Source: RPData

Thoughts for life

ONE . Give people more than they expect and do it cheerfully

TWO . Marry a man/woman you love to talk to . As you get older, their conversational skills will be as important as any other

THREE . Don't believe all you hear, spend all you have or sleep all you want

FOUR . When you say, 'I love you,' mean it

FIVE . When you say, 'I'm sorry,' look the person in the eye

SIX . Be engaged at least six months before you get married

SEVEN . Believe in love at first sight

EIGHT . Never laugh at anyone's dreams . People who don't have dreams don't have much

NINE . Love deeply and passionately . You might get hurt but it's the only way to live life completely

TEN . . In disagreements, fight fairly . No name calling

ELEVEN . Don't judge people by their relatives

TWELVE . Talk slowly but think quickly

THIRTEEN .  When someone asks you a question you don't want to answer, smile and ask, 'Why do you want to know?'

FOURTEEN . Remember that great love and great achievements involve great risk

FIFTEEN . Say 'bless you' when you hear someone sneeze

SIXTEEN . . When you lose, don't lose the lesson

SEVENTEEN . Remember the three R's: Respect for self; Respect for others; and Responsibility for all your actions

EIGHTEEN . Don't let a little dispute injure a great friendship

NINETEEN . When you realize you've made a mistake, take immediate steps to correct it

TWENTY .  Smile when picking up the phone . The caller will hear it in your voice

TWENTY- ONE . Spend some time alone