Living On Less…And Surviving To Talk About It
This article is provided by Brian Marling of Neighbourhood DLC – Canada’s #1 Mortgage Team 905.372.7222
Blondin was a world famous tight-rope walker in the early 20th Century. One of his more famous feats was a walk across Niagara Falls. When he arrived at the other side, as the story goes, the crowd naturally went wild with cheers and applause as they chanted his name, “Blondin! Blondin! Blondin!”. Blondin, being a great showman, played to the crowd as he asked them , “Do you believe I can make it back across to the other side?” The crowd went nuts and yelled “Yes,Yes”. “This time”, he said, “I am going to carry someone on my back. Do you believe I can do it?”. At this point the crowd went into a frenzy with their positive affirmations as they couldn’t wait to see it. Blondin then shouted to the crowd, “And who will be that person?”. Of course the crowd became uncomfortably quiet.
Not many of us can walk a tight-rope, certainly not across Niagara Falls. However, when it comes to our finances it seems that many have risen to the occasion and quite enjoy performing the High-Wire Act. In fact, recent statistics have indicated that Canadians on average have a debt-to-disposable income ratio of 1:145. This means that for every $1.00 of disposable income we are spending $1.45. How is that even possible!! Enter the wonderful and mysterious world of banking, credit cards, buy now pay later, you deserve it all, blah,blah,blah. Now that we are in this mess, how does one get out.?
At the risk of sounding repetitive, which is necessary until one ‘gets it’, there are a few simple secrets that I will share with you now. From a philosophical viewpoint, which is a necessary starting point, I borrow from one of our Ancient scripts which says that the starting point is to be content with what you have. What a simple yet powerful thought. Perhaps easier said than done especially in a culture which constantly tries to make us feel inferior if we do not have the latest, greatest, fastest, bestest whatever! However, regardless of whatever the cultural message is, it is a choice we make to be satisfied or not. So then the starting point must be Contentment. Which is not to say that we shouldn’t strive for a better quality of life or that it’s somehow wrong to desire nicer things in life, but if we aren’t first of all content & happy where we are then it is unlikely that more will make us so. This point was driven home to me once again when I went to see the Watoto African Children’s Choir. What an inspirational display of the wonder of the human spirit. Here is a group of orphaned children whose parents mostly died of AIDS displaying the most amazing joy I have seen in a long time. What a tremendous personification of peace and contentment I witnessed. Yet who could have more reason to be discouraged, dismayed or disillusioned with life. Clearly they have chosen a different path and have obviously learned the first secret of contentment, while at the same time striving for a better life. Not only did I find it inspirational but it also helped me to gain perspective once again.
Next is to be aware that how much we earn is not as important as what we do with it. That is why the 70/30 Principle works no matter what your income is. What is the 70/30 Principle? It is the next secret to successful living. The 70/30 principle goes like this: divide your after tax income into 2 parts – 70% in one pool and 30% in another. There are 3 parts to the 30% pool: 10% must go into savings, 10% must go into some kind of investment, and 10% must be given back to your church or favorite charity. The 70% pool is for everything else – rent/mortgage, food, clothing, insurance, etc. If you commit to this plan you will create real wealth in your lifetime. The challenge is deciding to live differently than you have been unless of course you have already arrived.
“But I’m barely paying my bills now and almost always run out of money before the end of the month.”, you say. My response – how is that working for you? Perhaps now is the time that you decide to live differently. The concepts I have shared above are simple to follow. But I never said it would be easy. If you want what most people have then continue to do what most people do. But if you truly desire change then it must start with you.
Because of the current debt crisis in so many lives right now I am pleased to announce what The Brian Marling Mortgage Team is doing to help Canadians now. Firstly, Neighbourhood Dominion Lending Centres is proud to announce the launch of EnRICHed Academy’s “Smart Start For Financial Genius”! This program has been designed to educate young adults (13-23) and their families on the fundamentals that build wealth in an entertaining, funny and entirely interactive way! No program like this currently exists, and the need and demand acrossNorth America is at an all-time high! Please call me if you are interested in hosting a seminar or would just like more information.
Secondly, our Financial Coaching Program is really taking off. All coaching is lead by our Certified Professional Coach and owner of Life Catalyst Coaching, Deborah Marling. Deborah can be reached through our office and would be pleased to set up an introductory appointment to discuss your needs and current situation. Deborah is helping many to get out of the debt race and turn their futures around. Here is what just 1 graduating couple had to say,
“Hi Deb I Hope all is well. I just wanted to let you know how grateful Carl and I are for all the help you gave us. You gave us the tools to look at our finances and get ourselves above water. Since attending your sessions it has been possible for us to obtain and do the things we want. In the past we never had a savings account, our accounts were always into the negative. If something happened and we needed money we were in trouble. Let me tell you since our session’s things have happened in our family and we were able to help without using a credit card, without going into the overdraft. Thank goodness we had your training. From the time we started our sessions we have never been in our overdraft, we have 4 saving accounts which are growing, and our bills are paid on time. When you talk about financial freedom we see that we are on the way. However we could not have done this without you. I just want to say thank you for all the support and the belief you had in both Carl and I. Thanks Again Lisa M.
Here at Neighbourhood, & the home of the Brian Marling Mortgage Team, we are concerned for the total well-being of our clients. That’s why we are taking the years of experience from our award winning office and offering a series of FREE Seminars to our clients and their friends & families and to the public at large. The seminars, entitled ‘Financial Fitness’, will be offered free of charge and will cover all the secrets of successful personal financial freedom. If interested please call our office at 905.372.7222 to reserve your spot as seating will be limited.