21st Century Cafe Group. My lifestyle. My cafe.Diamonds are forever. Or are they ?
The "diamond" in the menu of 21st Century Cafe Group remains to be the Honey Roast Chicken with Cheese. Try it soon today !
Some useful financial tips for couples / families :
1) Marriage creates wealth. Divorce destroys it.
I have witnessed many untold stories of wealth destruction (in some cases in excess of 50%) on the original value of wealth of families before the divorce occurred.
2) Communicate, communicate, communicate
Communication is vital to the management of family finances. Verbal, e-mail, sms texts or whatever ways work between the couples to identify and pay for joint finances is very important. We make too many simplistic assumptions on such joint spendings which should be carefully planned out at an early stage with a carefully thought out long term solution.
3) Manage your family living budget
Pen down your monthly fixed costs (including varied and healthy family meals) against available income in order to actively manage your family living budget.
4) Family debts
A major cause of divorce is the mis-management of debts. Always use cash to pay off purchases unless credit cards offer real discounts for its usage. Remember to pay off the credit bills promptly, for obvious reasons.
Over a longer period of time, it is a proven winning formula for families to build wealth by entering a mortgage on an affordable home. However, incurring debt on cars which you otherwise cannot afford does not improve your family life in the longer term.
Lots of couples / families suffer great financial stress from mis-understanding and then mis-managing the mortgage debt and debt on cars. A basic rule is to start eliminating a small portion of your current debt (whether in mortgage/car/credit card etc) today and you will eventually achieve financial freedom in the longer term.
5) Family savings
Save today for your children's education in the future and also for financing your retirement lifestyle. Decide what you want and start doing it today.
Yes, diamonds are forever. It could be passed on to the next generation and the next few generations if parents (both father and mother) teach their next generation the gift of thrift and the value of hard work to buy that diamond in the first place. Agree ?
The "diamond" in the menu of 21st Century Cafe Group remains to be the Honey Roast Chicken with Cheese. Try it soon today !
Some useful financial tips for couples / families :
1) Marriage creates wealth. Divorce destroys it.
I have witnessed many untold stories of wealth destruction (in some cases in excess of 50%) on the original value of wealth of families before the divorce occurred.
2) Communicate, communicate, communicate
Communication is vital to the management of family finances. Verbal, e-mail, sms texts or whatever ways work between the couples to identify and pay for joint finances is very important. We make too many simplistic assumptions on such joint spendings which should be carefully planned out at an early stage with a carefully thought out long term solution.
3) Manage your family living budget
Pen down your monthly fixed costs (including varied and healthy family meals) against available income in order to actively manage your family living budget.
4) Family debts
A major cause of divorce is the mis-management of debts. Always use cash to pay off purchases unless credit cards offer real discounts for its usage. Remember to pay off the credit bills promptly, for obvious reasons.
Over a longer period of time, it is a proven winning formula for families to build wealth by entering a mortgage on an affordable home. However, incurring debt on cars which you otherwise cannot afford does not improve your family life in the longer term.
Lots of couples / families suffer great financial stress from mis-understanding and then mis-managing the mortgage debt and debt on cars. A basic rule is to start eliminating a small portion of your current debt (whether in mortgage/car/credit card etc) today and you will eventually achieve financial freedom in the longer term.
5) Family savings
Save today for your children's education in the future and also for financing your retirement lifestyle. Decide what you want and start doing it today.
Yes, diamonds are forever. It could be passed on to the next generation and the next few generations if parents (both father and mother) teach their next generation the gift of thrift and the value of hard work to buy that diamond in the first place. Agree ?
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.