Accumulating good financial habits
Many are advocating that the government released one of the most important Federal budgets this week although the response by some has been negative. Those against, suggest we have taken on too much debt and that it is unlikely we will see a budget surplus for quite some time.
While some would argue that this budget was needed to enable the economy to grow over the coming years, others are suggesting it will benefit middle-and upper-income earners more with the great divide between those with plenty of money and those without only widening.
But is this really going to be the case?
Having helped thousands of Australians to understand money, investing and creating wealth for retirement, I have found that the reason the divide between those who have money and those who don’t is almost entirely down to how we think about money and building wealth, and no budget can change that.
History shows that if you had parents who were financially smart and taught you their good habits, you have a much higher chance of accumulating wealth.
Others suggest that your ability to build wealth comes down to how much you earn, but this could not be further from the truth because in my experience it all comes down to how we think or our attitude towards money.
Dale Gillham is Chief Analyst at Wealth Within and international bestselling author of How to Beat the Managed Funds by 20%. He is also author of the award winning book Accelerate Your Wealth—It’s Your Money, Your Choice, which is available in all good bookstores and online at www.wealthwithin.com.au
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
Publishers Notice
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.
