Judging from the pomp and old skool glory of the Royal Wedding last Friday one would deem that Britain was still ‘great’ as in ‘the sun never sets on the empire’ great! When in actuality it is broke! It is no longer ‘Great Britain’ but ‘Austerity Britain’.

With the cost of security for the Royal Wedding added to the country’s already severe budget deficit, a number of articles estimate that the cost to the taxpayer will be in its millions. How that will affect the already economically squeezed Briton, what with ‘Tax’ and ‘Inflation’ sitting on either side of them, is simple a question of time.

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Due to the current global economic crisis the subject of pensions and savings on a whole, have been in and out of the media on a consistent basis, and with the talks of inflation and whether the Bank of England is going to increase interest rates again and the consequences of that, the consensus is that the idea and structure of a pension and with it the signification of retirement is no longer viable in the 21^st Century.

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Quantitative Easing, a term that is becoming more frequent in our everyday vocabulary as the  economic purfication continues across the globe; - the financial situation in Ireland is coming to a head with the question being asked ‘which EU country next’? It is simply not a question of if but when! On the other side of the pond, the US is gearing up for another round of money printing, otherwise known as quantitative easing, and as we know when America sneezes the world, especially the UK – where I am based, catches it cold! As such one should take the time to understand what QE means  and  how it effects us as paying tax members.

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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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Do you have an entrepreneurial state of mind or an employee state of mind?

This is a very important question because depending on your answer it will define how you will survive the next coming years of global economic turmoil. And it is coming!  If you don’t see it, it is simply because you do not wish to see it.

We are presently in a time of change, on a global scale where there will be a transfer of power and wealth; just as there has been, numerous times, in World history. Think about it, wasn’t Rome and Greece once powerful and rich empires? As was Spain, China, Africa, and Turkey (The Ottoman Empire)? Change, even if we do not want it, desire it or like it, comes to ALL of us! It is a part of life! See the video below for a perfect example of this, and yes it is based on the USA but we all know that when America sneezes the rest of the World catches their cold!

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There is a beginning and an end with anything and everything in life!  An alpha and an omega! So with that being said and accepted as fact, could money as we know it die? And with it our relationship to how we see it, spend it, save it and exchange it for goods and services?

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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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Words from the Budget (Wordle.net)

What a week for the UK! England are through to the last sixteen; although now facing Germany on Sunday! This should make for an entertaining and sentimental game!  C’mon England!

And of course, we had Cameron and Clegg announce the details of the emergency budget on Tuesday.  The cuts announced aren’t only warranted but desperately required in order to slim down our horrendous economic deficit which currently stands at about £160 billion.

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