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Updated on May 6, 2011


These are tough Financial times worldwide. It is not my purpose here to sermonise on the reasons that have brought us to this pretty pass other than to say the human condition always will exhibit greed given any chance and ,boy oh boy, have there been chances given over the last decade or so.

Now comes the time those pipers must be paid, so for everyone it means belt tightening of great notches and a period of austerity, both globally and personally.For those in personal debt it is time to wake up and smell the coffee or face ruin. For those not yet in debt, it is a time to praise their financial sense whilst at the same time reviewing carefully their situation and future prospects, say for the next 1/5 years at least.

Dickens had it right!

Charles Dickens taught me a great financial lesson when he had Mr Micawber outline basic personal financial wisdom."INCOME £1.00 EXPENDITURE 19 SHILLINGS AND 6 PENCE! RESULT-----HAPPINESS. INCOME £1.00 EXPENDITURE £1.06! RESULT-----MISERY!! Being young, that simple message hit home and as a result my personal philosophy has been to owe nothing to anyone for any thing, save for the domestic mortgage. It has stood me in good stead.

However, we have just left a period where people were actively encouraged to embrace debt as the best things to do and they needed little exhortation to do just that. Thus, the reckoning has now arrived, big time as they say.


I am always amazed when consulted over personal debt, by the fact that so few have heard of the Micawber philosophy Now I know there is more to personal financial management than just that and link at the end here to a good guide to help sort out your own personal financial plan to clear away the fog so many choose to live in and break out into clear personal financial light.

By doing so, and knowing exactly where you stand you no longer have to fear the mail box, the telephone or the unexpected knock on your door. Take charge of your personal financial affairs and you go along way to taking charge of your life. Make a plan that fits your own income and expenditure.Most creditors will go along with a well constructed plan that is clearly able to be adhered to if consulted early enough. For those in credit, investment,as opposed to mere disposal, at least in part is a good idea to follow.

Personal Financial Planning is something we should address more strongly in our schools than we do and not leave it to chance encounters with Mr Micawber. Personal Financial Panning as shown ,for example on the link, can become the mantra for a successful life and provides a reference centre that will last a lifetime. I am always interested to view books in peoples homes and recently, I note a surge in books on cooking!Laudable no doubt. Even so, I find few have any book to refer to on Financial Planning for the homeowners and their family. Strange is it not Food is vital ti life, we all know. So why then do so few acknowledge that they need to be able to establish a clear Personal Finance Plan as well? The answer is unknown to me, but my bet is that in the next 10 years we shall see more and more needing it.


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