Thoughts
Under the title of 'Ties are optional', Les Conway shares his thoughts about what’s going on in the World and how it can affect and impact your lifestyle and finances. Feel free to sign up here to subscribe to receive. And remember that these articles are the opinions of the author, Les Conway of Essentially Financial Limited, and are not endorsed or necessarily shared by Flying Colours Advice Limited.
Ensure that you protect yourself!
Posted by siteadmin on Wednesday 3rd of May 2023
I recently discovered that someone had somehow/somewhere likely intercepted an item of post. Pretending to be me, they then successfully reported my credit card to the provider (which I had in my possession) as lost. Being able to amend the address and contact details, taking delivery of the new credit card, they then happily spent close to £10,000 in around six weeks.
Not least for professional reasons, I’ve been subscribing to a credit referencing service for a number of years. Meaning that I regularly review that all is as it should be. ...
Financial Planning, Journeys and Building Confidence
Posted by siteadmin on Wednesday 5th of April 2023
From the beginning of the year and as I've already touched on within the past couple of articles, I'm going back to basics. To re-explain in detail, what lifestyle financial planning is and why it is so important.
If you'd like to recap, jsut view the articles in this Thoughts section.
And late last year, I was invited to record a podcast. Discussing the same subject. It's only a 35 minute listen, and I hope that you find it clear and concise.
To listen, just click here.
It can also be found on other podcast providers. So just search One...
Not all returns are financial
Posted by siteadmin on Wednesday 1st of March 2023
We often look at what we’ve achieved in life in monetary terms. What we have, what we earn and what we expect to receive.
But what is all this worth? And what value can we place on money, if it doesn’t give us the life we really want?
Perhaps by not being able to do the things we want to, if we don’t know what that is. Or where we might want to help our children or loved ones, as they might require or need.
For most human beings, we value what lies in our aspirations, desires and wants. Not how much we have. The latter is vitally relevant...
So, what’s your purpose?
Posted by siteadmin on Wednesday 1st of February 2023
Last month, I talked about the first phase of lifestyle financial planning. By establishing the individual’s purpose.
Initially, we identify where the person has come from, where they are now and where they want to end up. More importantly, by when.
It’s also helpful to understand what relationship they’ve had with money. What they experienced growing up and how things have unfolded for them since then, to be where they are now.
But what’s as important in establishing the purpose is the ‘why’. What this ‘why’ means and what the effects ar...
What is it that you want to achieve?
Posted by siteadmin on Wednesday 4th of January 2023
In lifestyle financial planning terms, we always ask as to ‘what are your goals, ambitions, and aspirations’. I’ve never been comfortable with these terms, as I feel that they’re too generic and meaningless to most people.
My first mission for 2023 is to encourage the use of more appropriate and relevant phrases to replace. All part of the process of educating people of the deep-seated significance of ‘true’ lifestyle financial planning.
Searching on Google, other words pop up. Such as aims, intentions and purpose to name but a few. Any ...
Is the grass greener?
Posted by siteadmin on Wednesday 7th of December 2022
We all have our opinions, and we all think we know what’s best. Just look at the last two or three years. Should we have locked down faster? How would we have dealt with Putin? And what would we do to address spiralling inflation?
For just over three weeks in October (where I drafted this on the flight back), I was in Southern California. Principally for my son’s wedding, where my daughter-in-law is from San Diego. Followed by much needed time to rest and recuperate on a sunbed by a pool.
With political turmoil back home (hopefully now somew...
What have you got to lose?
Posted by siteadmin on Wednesday 2nd of November 2022
Looking through some books in my own personal library, I came across one I read some time ago entitled 'Feel the Fear and Do It Anyway'.
Glancing back through the book, the introduction sets out its objectives. It made some great points about people fearing new beginnings and endings, fearing change but also having anxiety about feeling stuck.
This for sure could apply to lifestyle financial planning too. However, unlike buying a piece of furniture for example, lifestyle financial planning is an intangible. It’s a process and experience, b...
How things change
Posted by siteadmin on Tuesday 4th of October 2022
With a blistering record hot summer, almost total lack of rain, energy prices at unimaginable levels, could we really have foreseen how other parts of life would change?
Momentously, the passing of her majesty, Queen Elizabeth II, and the proclamation of King Charles III.
Whether you’re a supporter of the royals or not, one cannot admire enough the dedication the Queen gave to her country and the world throughout her 70 year reign. And that unquestionably is going to be replicated by the King.
Admittedly some may not agree. But in my view...
What’s the Target?
Posted by siteadmin on Wednesday 7th of September 2022
Having an exit strategy is often related to an individual selling a business. In such cases, advice and planning support is recommended, particularly with what to do next.
It’s not just an entrepreneur that needs an ‘exit strategy’. Everyone needs to plan for the future, regardless of where they are in the life cycle.
People in their 20s and 30s, may be continuing their education or starting their first full time job. Their career is just getting under way and doing well. They may be settling down, getting married or starting a family.
Mov...
Understanding Why
Posted by siteadmin on Wednesday 3rd of August 2022
The life cycle takes us all through at least one and invariably significantly more of the various challenges that we face. This is what I call life’s distractions.
Not all are bad. When life is going well and even when good news arrives, it can give us just as much to think about. Perhaps creating a successful business, receiving a bonus, getting a promotion or starting a new job. Or even an unexpected windfall. Whatever, it might be that we have to make some key decisions and important choices.
These are just some the things that go throug...