It’s safe to say that Warren Buffet knows a thing or two about making good financial decisions and so when he talks, we listen. Buffet is famously quoted as saying ‘its good to learn from your mistakes. It’s better to learn from others mistakes’. Wise words, we say!
What if you could jump over the pot holes others have fallen into and make better financial decisions for yourself? We’ve done some investigating and have put together some of the most common financial mistakes:
Number 1 Regret: Not Saving Enough
One of the fundamentals of good money management is sticking to a budget and creating clear goals when it comes to depositing regularly into a savings account. Commit to paying yourself before you pay anyone else, with a set percentage of your income going straight into a savings account before you pay any bills or dedicate funds to other expenses.
Number 2 Regret: Poor financial planning
In the words of the wise, ‘failing to plan is planning to fail’. Seeking advice from your Axios advisor and creating a plan for your financial future will help you map out your goals, consider where you’d like to be in the future and make smart decisions around how you spend, save or invest your income now to achieve the future you want for yourself and your family.
Number 3 Regret: Not investing
With proper financial advice and strategic planning, investing money can be a great way to set up extra income streams so that you are not relying solely on your salary. Make sure you speak with you Axios advisor about your various investment options. We will take into consideration your tolerance for risk and your personal goals to help you set up a solid investment strategy.
Number 4 Regret: Investing in the wrong things
While there is always risk involved in any type of investment, you’re more likely to have a better investment experience and outcome when your investment decisions are based on informed factors. Your financial planner can help you to map out your financial goals and advise on appropriate investment options which match your timeframe and personal needs.
A new financial year is the perfect opportunity to take stock of your finances and make the time to catch up with your advisor to ensure that you are on track for the financial future you aspire to. While reaching the financial success level of Warren Buffet may be unrealistic for many, tapping into his philosophy of building wealth, including his commitment to learning form the mistakes of others, can only propel us in the direction of success.
Axios Financial Solutions are a team of respected and highly regarded financial planners with offices on St Kilda Rd Melbourne. Axios helps their clients meet their desired outcomes by providing tailored financial services, strategies, advice and solutions. You can contact them at email@example.com or (03) 9869 5555.
Axios Financial Solutions Pty Ltd (ACN 007 299 014), is an Authorised Representative of Charter Financial Planning Ltd, Australian Financial Services Licensee 234665
Please note that the information in this article is of a general nature only and has not taken into consideration your individual circumstances. Should you wish to discuss your personal circumstances please call us on 03 9869 5555 or email firstname.lastname@example.org.
Level 3 The Metropolis
480 St Kilda Road
Melbourne Vic 3004