Stop over­spend­ing with money guide

Horowhenua Chronicle - - SPORT - What in­spired you to write Do you think New Zealan­ders in general over­spend and if so why? What are some typ­i­cal money traps peo­ple fall into and how do you over­come them? What is the $21 chal­lenge fea­tured in your book and does it work? Do you have some

In­vestor, au­thor, en­tre­pre­neur, pro­fes­sional speaker Lisa Dud­son is recog­nised as one of New Zealand’s lead­ing busi­ness peo­ple and ed­u­ca­tors in the prop­erty and fi­nan­cial sec­tor. She be­gan in­vest­ing when she was just 16 years of age and owns a di­ver­si­fied port­fo­lio of in­vest­ments. Dud­son has just re­leased the book

an es­sen­tial re­source for all things money. It’s sim­ple and easy to fol­low and is full of prac­ti­cal ad­vice to help you cre­ate the fi­nan­cial free­dom to live the life you de­sire.

We asked her a few ques­tions: I’ve al­ways been pas­sion­ate about help­ing ed­u­cate peo­ple to be smarter with their fi­nances so they have more op­tions in their lives. This book was a great way to do that.

Yes they do and the sta­tis­tics sup­port that. The cost of liv­ing is high and there is also a lot of temp­ta­tion to spend money through ad­ver­tis­ing, etc. We are also a bit ad­dicted to ‘stuff’ and of­ten buy a lot of things that we don’t need or don’t end up us­ing, like ex­ces­sive amounts of cloth­ing, din­ners outs, toys, etc. been nec­es­sary.

Ab­so­lutely it does. The con­cept first came out around a dozen years ago and thou­sands of peo­ple have suc­cess­fully com­pleted it. You can use things you al­ready have in your cup­board, fridge or freezer. It’s a great thing to do a few times a year to save some ex­tra money. It might be also great for your waist line as well! Have con­ver­sa­tions about money with your chil­dren from a young age so they gain an un­der­stand­ing of money and its value. I also think us­ing pocket money is help­ful. Put any spare money you can into ex­tra mort­gage pay­ments, even if it’s only a $100 a month, over time it will save you a lot of money in in­ter­est costs. Hav­ing a goal of when you want to pay off your mort­gage off, that you re­view reg­u­larly, helps you stay fo­cused.

A great one is to pause be­fore you spend any of your hard earned money and ask your­self if what you are go­ing to buy is a good use of your money. It will help you be a lot more con­scious of your spend­ing. Any­one who wants to be im­prove their fi­nan­cial po­si­tion. I had a num­ber of peo­ple re­view the book, in­clud­ing some who are very fi­nan­cially savvy and even they learnt a few things. The book is easy to read and un­der­stand. It cov­ers a wide range of con­cepts; mind­set, money man­age­ment, in­vest­ing, Ki­wiSaver, plan­ning for re­tire­ment, get­ting the most out of your mort­gage, stay­ing on track.

by Lisa Dud­son, $29.99

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