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It’s time that something was invented or created to rival sex. Some mad media types have tried to have us believe that we men think about sex every seven seconds but that’s a lot of old cobblers!

If it were true, we would have to be dreaming of sex just about every time we went to bed. I mean, every time we went to sleep.

The MailOnline put it really sensibly:

“If we assume that the average male is awake for 16 hours a day, each man would have to think about sex more than 8,000 times a day. That's about as many times as a person breathes while awake.”

However, it would not be too far fetched to think that men think about sex at least once a day and, in a world of equality I would be prepared to say women do too.

So if we could make money as sexy as sex, or even half as s-xy so that we thought about smart money plays every second of the day, then we could really help people help themselves.

Attitude change

I started thinking about grown ups and their money problems while at a launch of the CBA’s financial literacy program for primary school kids. Those little kids were so easy to motivate and with the help of the parents they can be given jobs like feeding the dogs, cleaning up their room and mowing the lawn, which results in weekly pay. This turns into a surfboard, drum kits and bikes that they save for, and then buy for, themselves.

That’s fantastic programming. However, in teenage years and into their 20s, young people see all of this as being uncool and they enter a money disaster zone that can ruin them for life.

That has to change.

Turn your 30 minutes around

I have guessed that most men and women would spend 30 minutes a day reading stuff that cannot make them richer, smarter or to have any real competitive advantage over anyone else.

The successful person exploits their competitive advantage and turns this edge into money.

When it comes to getting richer it’s not something you learn in a day, but you learn it daily. If someone took 30 minutes a day to read about moneymaking stuff, they would rack up over 10,000 minutes a year towards changing their money life forever.

Every year this was followed I would bet that they would make much better decisions about their money. And day-by-day and then year-by-year they would get wealthier.

Top ten money life changers

Here are my top ten life changers to start yourself on the road to financial freedom and greater wealth:

  1. Do a brutal budget — most people won’t do this, so don’t read on if you won’t do it!
  2. GST your life by cutting back your spending by 10 per cent.
  3. Take your 10 per cent saving and put it into a high yielding bank account while you build up enough to buy shares.
  4. Buy blue chip shares that pay good dividends and work off the idea that this is how you will save.
  5. Once you are into a saving mode, write down your goals. Here they are unless you can do better: buy a property you live in and plan to pay it off quickly. Or buy an investment property using the tax system and negative gearing and/or buy blue chip shares that pay good dividends. Once again you can use negative gearing but don’t get too greedy.
  6. Think about opening a small business — most of the really wealthy use business to get rich.
  7. Become addicted to self-improvement, as this will make you great at your job or your business.
  8. Work out what is important to you — it might be financial success and a happy family — so create plans to make sure these important goals happen.
  9. Look around for great advisers and mentors to make sure you have giants in your life whose shoulders you can stand on so you see stuff that the average person does not see. These things could be tax advice, financial advice, leadership guidance and personal development tips.
  10. Get in control of your life and regularly revisit your goals to motivate you to keep learning and improving. Finally, remember, if nothing changes nothing changes!

Few people get richer and materially comfortable by luck. The successful person does a lot to make their own luck. As the great golfer Gary Player once observed: “The more I practice, the luckier I get.” 

For advice you can trust, contact Switzer Financial Services.

Important information:This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.

Published on: Thursday, November 19, 2009

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