November 18, 2012

Unfair Criticism

It's amazing how many will feel that any discussion relating to money means that speaker is only focussed on the topic.  Focussed? Yes, most definitely! Obsessed? Definitely not.

Awareness of the fact that money rates second to oxygen in our very existence is a good starting point to develop fiscal intelligence.

There are many reasons why we can be drawn to the ideal of something for nothing.  I'll be the first to admit that the idyllic paradise where all is provided with little or no return is quite inviting at times.

But like anything that is not used it would only be a matter of time before boredom would set in and the search would begin for new challenges and adventures.

When the routine of the our lives becomes a drain on physical, mental, emotional and spiritual resources it's easy to look for the easy way out.  To recognise this though is to create solutions that make progress possible even when the energy is low.

One good example is the family with a new infant. From experience having an infant in the home is demanding and while parents may express how they're feeling they still love and care for their child.

It is possible to obtain occasional respite, but the long term task is by far incomplete.

So too with providing for those things which make life meaningful.

If energy is low or health is poor this is not an excuse to quit. It may mean working at a different pace and achieving less. However it is these times where the focus is greater and often more is achieved in a shorter time frame. Similar to starting very early in the morning.

The generations who experienced the depression of the 1930's seem to have had an attitude of whatever happens, ignore it and get on with life. This leads to the philosophy that you're going to feel whatever you're feeling whether you're working or not.

By now many will believe I'm promoting slavery. This is not the case. Such are the failings of human communication.

We all need rest and recreation to recharge ourselves. We need love and laughter, warmth and light. Sure there are times when we need solitude too.

The pursuit of fiscal security and freedom is best achieved through living a balanced  life.'

That's why I created Economic Vision.

My challenge this week is to set a goal of achieving six small objectives each day. Objectives that lead to some greater goal, dream or objective.

Make it a great week.


November 5, 2012

Wanted Success

      There are a wealth of stories where persistence paid off. Sometimes after seemingly overwhelming odds.

    Henry Ford, founder of the Ford Motor company, was bankrupted several times before going on to become one of the wealthiest men of his time.

    Walt Disney was sacked from one position because he had 'no imagination!' Added to that were the many banks who said his idea simply wouldn't work. He should stick to creating cartoons.

    J. K. Rowling (Author of Harry Potter series) conceived the idea for the series on a train trip from Manchester to London in 1990. She's led a "rags to riches" life story, in which she progressed from living on social security to multi-millionaire status within five years. Now with an estimated net worth of over two hundred and thirty eight million pounds. (Over half a billion dollars) (source Wikipedia)

    Susan Boyle became an 'overnight celebrity' on Britain's Got Talent at the age of forty seven. She was another rags to riches story and after coming runner up in the final though she had missed her chance. Since then she has been following her passion around the world. Singing and delighting people. 

     The interesting thing about these men and women is that they never set out to 'make money.' It was the pursuit of a passion and persistence that saw them become 'wealthy' as a by-product.

     Too often when the focus is on 'making money' lack of results can lead to giving up (and usually just before they would have made it.)

     In Economic Vision the questions are asked; "what is it you enjoy doing or are good at?"  "Are there ways that it could provide an income outside of what you're already doing?" 

     Make a list of ideas you've thought of over the years and see if there's something that still fires your imagination. Then pursue it.

     Who knows where it will lead.

October 5, 2012

Simply Brilliant Budgeting

If the dream is BIG enough, the facts don't count. Without the dream we lack the vision and desire to do the work that it's going to take to achieve it.  

So...ask yourself this, "what is it that would add real meaning to my life and others that I can't have doing what I'm doing now?"

I had my answer in a conversation with a friend this morning of her life in the 1980's.

It's a familiar story of debts to high, funds to low.

She found a lot of solutions which became a great little book of ideas for surviving and even progressing in the lean time.

In Simply Brilliant Budgeting she highlights many of those strategies. 

Here's a sample of chapter one.

October 3, 2012

A New Beginning

Today I came across a statistic that for this day and age seems nothing short of incredible.

This applies only to Western Australia, a region of the world enjoying a mining boom and yet so many are struggling financially. So much so that thirty percent of people in prison are there on debt related charges.

In many cases their only crime was being unable to service their debts.

Worse than those who are in prison are the families on the outside who are probably suffering even greater economic stress as a result.  

One has to wonder how in the twenty first century with all that is available to us in the way of technology for travel, communication, entertainment and commerce how these people wound up in the situation in the first place.

As has been said quite often is some circles, "it's a jungle out there." In fact it's probably safer on the African Savannah than living in western society.

A big part of the problem is the lack of fiscal education and those who are trying to plug the leaks and help those in need are working with less and less resources.

This is why Economic Vision has teamed up with Morris Publishing Australia with an affordable presentation designed to make lasting changes to families and communities.

June 21, 2012

However Long It Takes.

There are a few memorable quotes that have been encouragement over the past fourteen years of putting an idea together and now it's time has come. Quotes like "if you don't quit you will make it." Bert Gulick and "never, never, never give up" Sir Winston Churchill.

Arriving at that moment when you just know, you feel it and even though it's still has challenges its worth it.  Just like the first time a parent holds their newborn, a singer is given recognition or (in my case) my first solo flight.  That moment when  you can see the plan laid out (in the case of the infant this will definitely change) and despite feelings of inadequacies you know very soon it will be something you do without even thinking about it.

Tomorrow is a new day in Economic Vision. It is the day that we take that first solo and in the word of singer/songwriter John White, The Skies No Limit.

There are a few key people who encouraged and inspired a commitment to bringing Economic Vision to life. To them a very special thanks, you know who you are and I truly value your friendship and support.

Over coming days and weeks I'll be posting updates and encourage anyone who is planning or doing anything that closely resembles their life's purpose to commit to it 110%, no matter what the odds.

Financial Focus.

There has been a huge shift in financial thinking in the last five years. For many it was the thought that the good times would never end. We could borrow for the things we wanted and pay it off over time.

This is one of the greatest traps to fall into. Our personal net worth is not made up of the “real” value of “real” assets more importantly it is made up of the surplus we can generate in our cashflow.

A prime example of this is farming where family may be asset rich, but for whatever reason, income poor. Don’t be deceived by the big equipment they have or the vehicle they may drive. It is all essential. Believe me living in the country you do need reliability.

So what does this mean to you. It means doing a checklist of what is essential to you and what is something you have because it feels or looks nice.

Back to the borrowed money and farming. The annual cost on a medium farm ranges upwards of a quarter of a million dollars, yet a single frost can wipe that amount off the annual income. And remember the big machinery, that is not factored into the annual expenditure.

So lets look at your situation. Have you considered what your current lifestyle is costing you in real terms? Particularly if that lifestyle is funded by the borrowed money we spoke of earlier.

The reason for this is in how the repayments are structured.

Too many small loans generally means a large amount going out each month (most lending institutions work on a monthly basis.) Then along comes your friendly finance person who says “we’ll simply absorb that into your home loan that way the interest rate will be lower and you won’t be paying as much.”

Actually you will be paying a lot more because even though the interest rate is lower it is being paid over a much longer period. Lending institutions love this one because interest paid on loans means long term income for them. Do they really care about you and your personal situation? Only insofar as your ability to give them the income/interest that you have gladly agreed to pay them.

There is a hard and fast rule to apply if you want financial freedom. Never, ever, ever assume anything. Sure there is acting on faith, but that alone isn’t enough without proper action.

So what can be done about overcoming the debt cycle. Step one is to “learn” from reputable sources what you need to know and do. One thing I found useful many years ago was a book that a highly successful business colleague gave me. That book was  “The Richest Man In Babylon” and I still take it off the shelf often to help keep my focus on track.

Even though it was written almost a hundred years ago the epic tale of one Babylonian’s rise from broke and indebted poverty as a slave to become financial secure, then financially free. It’s all spelled out in very simple steps that are as relevant today as they have been since the days of the fabulously wealthy Babylon, which existed over six thousand years ago.

Slave customs in ancient Babylon were strictly regulated by law. For example. a slave could own property even other slaves which his master had no claim over. Slaves married non-slaves. Children of free mothers were free. Most Babylonian merchants were slaves. Many in partnership with their masters and wealthy in their own right.

But debt and having to work long hours for low wages that fail to meet our cost of living is in itself a form of slavery. Financial freedom, when spoken of by those who have achieved it, is something that adds real quality and meaning to our lives.

Money is how success is measured, it can’t buy health but it’s interesting to note 
how the affluent of today are the lean trim and healthy ones.

We feel more secure with money than without, as I’ve said on many occasions, 
money is not important, it just ranks second to oxygen in our existence.

Learning how to control how you generate your money, cashflow is better, by being taught by those who already have achieved success removes a lot of stress and thereby adds to the enjoyment of life.

The principles and processes are simple. While you have debt you are controlled by those you have borrowed from.

Start by seeing yourself debt free. This can be a bit of a stretch of the imagination, but over time you’ll come to realise and work out how important being debt free can be in all areas of your life.

Even in the process of actively pursuing the dream of financial freedom you will find yourself feeling much happier about the potential future. Dreams do come true so pursue financial freedom, then you can become a force for good in your family, your community and who knows, the world?

June 12, 2012

Authors on Air, Again

      After twenty four years away from a studio, it was fun to be back and talk with Nicole O'Neill about Economic Vision. With the launch of our new platform including the re release of the book with a competent Australian publisher there has been an amazing and positive response from all levels of the community.

      We're now planning a monthly segment at

     To learn how to improve your financial future go here.

Nicole O'Neill and Kim at Kalamunda
discussing Economic Vision.

Authors on Air

     Nicole O'Neill interviewing Kathleen O'Dwyer at discussing Simply Brilliant Budgeting. Kathleen handled it like it was all just a part of a day at the office for an author. It was an interesting conversation to listen in on and will be posted later this week on the Economic Vision website. 

As Kathleen says, "Even if you think you’re doing all right now, there are ideas and strategies that can make things simpler, more effective, and improve your overall financial situation."

May 11, 2012

The opening statement of the Economic Vision seminar is: 

"everything you have believed up until now will be changed, dramatically, with the insights and information you will receive over the next few hours.”

The fundamental principles of financial security not taught in schools and unless you have been fortunate enough to have a mentor then there is still a lot to learn.

Financial security and freedom are are among the key elements to a fulfilling life.

May 7, 2012

"Oh my God! Look at all this stuff I/we pay! Any
wonder I/we can’t get ahead!"
"Relax! Breathe deep!"

Kathleen O'Dwyer,
Simply Brilliant Budgeting