things that prevent you from getting rich and how to avoid them

THINGS THAT PREVENT YOU FROM GETTING RICH

P A U L M A R T I N

C H A R T E R E D A C C O U N T A N T L T D

AND HOW TO AVOID THEM

I N T R O D U C T I O NMOST OF US WANT TO BE RICH - TO BUY THE THINGS THAT WE

WANT , TO TRAVEL TO DIFFERENT PLACES , TO PERHAPS BUILD

OUR OWN BUSINESS AND MORE . BUT FOR MOST GETTING RICH

IS NOT THAT EASY . EVEN THOUGH YOU WORK HARD EVERY

DAY , THE MONEY YOU EARN IS STILL NOT ENOUGH TO BUY AND

DO ALL THE THINGS THAT YOU WANT .

ONE OF THE REASONS FOR THIS IS DUE TO OUR POOR MONEY

HABITS .

PAUL MARTIN CHARTEREDACCOUNTANT LTD

WWW.PMARTINCA.COM

WHAT MONEY TRAPS

CAN YOU FA L L I N TO ?

AS A TRUSTED PERSONAL FINANCIAL AND BUSINESS ADVISOR IN AUCKLAND ,

WE ARE SHARING SOME OF THE COMMON THINGS THAT WE NOTICE PEOPLE

DO THAT PREVENT THEM FROM BUILDING A STRONG FINANCIAL POSITION .

Y O U D O N ' T H A V E

E M E R G E N C Y

F U N D S

NO MATTER HOW GOOD YOU ARE AT BUDGETING

YOUR MONEY , IF YOU DON 'T HAVE AN

EMERGENCY FUNDS THAT WOULD COVER

SUDDEN BIG EXPENSES , YOU ARE FINANCIALLY

FRAGILE . YOU MIGHT EVEN END UP WITH

INCREASED DEBT BECAUSE YOU DON 'T HAVE

EXTRA MONEY TO PAY FOR THESE SUDDEN

EXPENSES .

01PAUL MARTIN CHARTERED

ACCOUNTANT LTDWWW.PMARTINCA.COM

E X P E R T A D V I C E

SAVE AT LEAST 20% OF YOUR INCOME . SET UP A

DIRECT DEBIT FROM YOUR WAGES TO MAKE THE

SAVING AUTOMATIC . IF YOU THINK YOU CAN

INCREASE YOUR SAVINGS , INCREASE IT BY 5 OR 10%

QUARTERLY OR YEARLY . THIS WAY YOU WILL BE ABLE

TO PREVENT SPENDING ALL YOUR MONEY ON NON-

EMERGENCIES AND BUILD A NEST EGG FOR THE

FUTURE .


WWW.PMARTINCA.COM

N O T P A Y I N G

Y O U R D E B T S O N

T I M E

SOME PEOPLE PAY ONLY THE MINIMUM AMOUNT

DUE ON THEIR CREDIT CARD , THINKING THAT

HAVING A CREDIT BALANCE WILL GIVE THEM A

SOLID CREDIT HISTORY . BUT IN REALITY YOU

ARE NOT BUILDING A GOOD CREDIT RATING IF

YOU CANNOT PAY OFF YOUR DEBTS .




IF YOU CANNOT PAY OFF YOUR DEBTS RIGHT AWAY ,

IT IS ADVISABLE TO CREATE A PLAN FOR SETTLING

YOUR DEBTS . PRIORITISE THOSE THAT ARE URGENT

AND WITH THE HIGHEST INTEREST RATES . MAKE A

FLEXIBLE PAYMENT PLAN OR SCHEDULE THAT YOU

KNOW YOU CAN FOLLOW .


WWW.PMARTINCA.COM

N O T K N O W I N G

W H E R E Y O U R

M O N E Y G O E S

YOU MAY HAVE MANY BILLS TO PAY AND OTHER

THINGS THAT YOU BUY FOR YOUR EVERYDAY

NEEDS . BUT NOT PAYING CLOSE ATTENTION TO

YOUR FINANCES HAS REPERCUSSIONS . IF YOU

CONTINUE MINDLESS SPENDING , YOU WON 'T BE

ABLE TO SAVE FOR EMERGENCY SITUATIONS , OR

HAVE FUNDS TO PAY OFF YOUR DEBT . MINDLESS

SPENDING ALSO PREVENTS YOU FROM GETTING

RICH .




IF YOU DON 'T HAVE A BUDGET , IT 'S TIME YOU

CREATED ONE . IF YOU ARE NOT GOOD AT BUDGETING ,

IT 'S TIME TO LEARN . BUDGETING YOUR MONEY AND

KNOWING HOW TO TRACK YOUR SPENDING HABITS

WILL HELP YOU TO MANAGE YOUR FINANCES

PROPERLY . IF YOU KNOW WHERE YOUR MONEY IS

GOING IT IS EASIER TO MAKE NECESSARY

ADJUSTMENTS .


WWW.PMARTINCA.COM

H A N G I N G O U T

W I T H T O X I C

P E O P L E

YOUR SPENDING HABITS WILL ALSO DEPEND ON

THE TYPE OF PEOPLE YOU SOCIALISE WITH . IF

YOU SPEND TIME WITH PEOPLE WHO LOVE

GAMBLING , DRINKING AND PARTYING , IT IS

LIKELY THAT YOU MAY FALL INTO THEIR

SPENDING HABITS , WHICH WILL AFFECT YOUR

OWN FINANCES .




SPEND TIME WITH PEOPLE WHO YOU THINK WILL

HELP YOU BE MORE RESPONSIBLE WITH YOUR

FINANCES . OR SEEK FINANCIAL ADVICE FROM

MENTORS OR EXPERTS . FIND SOMEONE THAT YOU

CAN TRUST TO HELP YOU MANAGE YOUR FINANCES

PROPERLY .


WWW.PMARTINCA.COM

WANT TO KNOW HOW

YOU CAN GROW YOUR

F INANCES ?

THESE ARE JUST SOME OF THE VERY COMMON THINGS WE SEE THAT PREVENT

CLIENTS FROM GETTING AHEAD FINANCIALLY . AS CHARTERED ACCOUNTANTS

IN AUCKLAND , WE HELP PROFESSIONALS AND BUSINESS OWNERS MANAGE

THEIR FINANCES .

CONTACT US ON

(09) 576 4166 WWW.PMARTINCA.COM

things that prevent you from getting rich and how to avoid them

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