This New Year I believe will be one of reaping what one has sowed over the last several years. So if you have sowed well, nurtured and been patient expect good crops; if you have sowed complacency then that is what you will reap!  There has already been various warnings of more austerity and the degrading of a top world country; which has been shocking for many but brings into realisation that 2012 is going to be the year of economic reckoning.

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Some people keep up to date on celebrity news, sports news, entertainment news and general news; I in contrary keep an eye on the economic news. Why, because in order to become financially savvy one must understand what plain one is working on. As the saying goes forewarned is forearmed.

In the last several weeks the headlines that have popped out at me are as follows –

• Hard times ahead for 3 more years (Daily Mail – 27.01.2011)
• Economic outlook is bleak indeed. We can put through but only if our leaders have courage enough to tell us the truth (Daily Mail – 27.01.2011)
• A fifth of university leavers are out of work (Daily Mail – 27.012011) – see my post on students and jobs here.
• Debt crisis could tear up Europe, says Soros (Daily Mail – 27.01.2011)
• Property – the Achilles heel of the financial system  (Financial Times – 27.01.2011)
• Young fret over money woes (The New York Times – 31.01.2011)
• Sudden uprising in Egypt unsettles global markets (The New York Times – 31.01.2011)
• Age of the part-timer: 200,000 jobs were created last year. Only 3 per cent were full-time (The Daily Mail – 01.02.2011)

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Last month I wrote a post about the power of earning whilst giving - click here to view, and in that article I introduced a global membership organisation I belong to and feel very passionate about Club Asteria. 

Club Asteria purpose is to provide education, business opportunities and innovative programs to empower their members. Their mission is stated as follows :-

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It’s the New Year, and this is my first post from Becoming Financially Savvy, the financial education and wealth creation blog of Butterfly Wealth Creation, for 2011. As such the subject of this article is very dear to my heart. Financial Equality!

Financial equality, in this context, refers to bringing financially stability to individuals from the poorest parts of the world, both here in the western world and developing countries. Financial freedom and financial education is a right for all, and it is amazing what one will do for it and what one can do with it, once they understand it, have it, and implement the core teachings of it.

We all know the world is much bigger than the EU, USA and UK and that although times are economically hard, globally, we have a lot more than most in other parts of the world, as such what are your thoughts on the following quote.

‘The purpose of wealth is to serve others’.

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Continuing the Wealth Creation series that I started several months back, this post will be reviewing Property as a wealth creation vehicle.

Property, during the last ten years up to 2008, was the ‘golden goose’ of the UK. In that time, and off the back of the plethora of property programmes such as ‘A Place in the Sun’, Location, Location, Location, Grand Design, etc, etc, etc; many individuals became well off, some made a fortune and others became millionaires – the property entrepreneur and Secret Millionaire participant, Kevin Green comes to mind.

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Not so long ago I wrote a blog piece on young people and the education system entitled ‘It’s Not So NEET To Be A NEET!’, and I thought I would address the subject again but from the point of view of young graduates rather than NEETS. I do this because today my younger sister graduates from university, who as you can imagine I am very proud of!

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Let me ask you, when you think about becoming debt free and financially independent what do think about and what do you tell yourself? Do you tell yourself that it will never happen for you, or that it is too hard to do; or that it doesn’t happen to people like YOU? Or do you tell yourself that you deserve to be rich because you will add value to other people’s lives; or that someone like you can be rich; or that you can be rich doing what you love? What is your attitude to wealth?  And what negative or positive connotations do you associate with it?

T. Harv Eker, author of the New York bestselling ‘Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth’ says –

“There is a secret psychology to money. Most people don’t know about it, that’s why most people never become financially successful. A lack of money is not the problem, it is merely a symptom of what’s going on inside you…”

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There is a saying which goes ‘you need to know where you’re coming  from in order to know where you’re going.’ To a certain extent this is true! We are, after all, a product of our upbringing and conditioning, and then as we become adults, our social circles and peers.  It is these influences that ultimately guide our decision making and choices.  And as such, if you are really serious about your financial future and becoming (more) financially savvy, then it is vital that you do the following; -

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Anyone for a financial MOT?

Irrelevant of any economic season, good or bad, it is always healthy to have a MOT on one’s finances. We do one for our body, for our car, so why not one for our money?  It all makes for a financially savvy and sound foundation in which to grow and create one’s wealth, as in a garden of fruitful produce.

Thus, I am pleased to introduce to Becoming Financially Savvy readers and subscribers, Life UK Financial, a new UK financial service, launched in January this year,  that offers a unique FREE membership in order to provide YOU with a smarter and more convenient way of seeking FREE financial advice, manage your finances and purchase all the products and services you already buy such as insurance, mortgages, loans, wills, investments, pensions, tax planning etc, from their panel of FSA registered key advisors.

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It is the dawning of a new day, and the new World Cup winner has been exalted to the world: Espana! Congratulations to them, for not only are they World champions but European champions; quite an accomplishment by any means!

I mention this because many times when we watch athletes and performers we forget about the ‘business’ aspect of their field. FIFA is the governing body of football but it is also a business; the same as the Olympics, which is why countries clamour to be representatives of these types of Games.  They generate business for the host country, via tourism, construction marketing, and other industries.  Without the element of ‘business’ there is no real income, no revenue, no money, just ‘show’ and to ‘show’ cost money.

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