One of the fastest growing segments of the population today is people who are more than 100 years old.  A recent article states that back in 1990 there were about 37,000 of them here in the U.S.  By 2008, the number had swelled to 84,000.  And estimates state that by 2040, there will be more than 500,000 “centenarians” living in the United States.

Living beyond 100 years – that’s an amazing accomplishment!  Because, as the article points out, people who live to 100 are not just people who made it to 80 and then tacked on an additional 20 years of physical and mental decline.  People who live to be 100 often avoid the chronic illnesses associated with age altogether.  No diabetes, no heart disease, no Alzheimer’s or Parkinson’s diseases. 

Another interesting thing that the article pointed out was that centenarians were, as a group, much happier about their financial situations that any other age group.  When asked, 95% of them responded that they had enough money to meet their needs, while 76% said that they even had enough to by the extras that make life even more enjoyable. 

The article then went on to highlight a surprising fact.  Of the centenarians surveyed, nearly 40% had no financial reserves whatsoever.  And another 37% had enough money for life’s necessities, but no “extra” money for more pleasurable purchases.  Yet, 95% felt they had all the money they needed to meet their needs.

As someone whose career is built around ensuring the financial futures of everyday people, I find that fact amazing.  And inspiring.  Because it points out something that I think is so important, but so simple, that it’s often overlooked. 

We choose how to feel about our circumstances.  Whether we have a lot or a little, we can always choose to be happy.  It may be easier to feel happy when you have a lot of money, but at the end of the day, we’re the ones who choose to put a smile on our faces when we get up in the morning. 

Let’s take a lesson from the valuable and inspirational members of our society.  Let’s do the things that we know we need to do to secure our own financial futures, and let’s choose to be happy.  And maybe we can be the inspiration for a future generation!

No matter what your profession is; physician, IT professional, hotel owner, or homemaker, money slides away like butter! Do you ever wonder where your money goes each month? Regardless of how hard you work and how much you save, it feels as if you’re standing stagnant instead of moving closer to your goals. If you’re reading this and nodding your head, you may want to establish a budget to help you keep track of how you spend your money.

The first step to budgeting is to examine your financial goals. You can’t get what you want unless you know exactly what it is. Start by making a list of your short-term goals. Short term goals include aspects such as a family vacation or a new washer and dryer. Long term goals include aspects such as college savings for your children & possibly even saving for their weddings (stressful, yes!) and retirement planning. These goals need to be established to efficiently move towards them.

To develop a budget that is appropriate for your lifestyle, you’ll need to identify your current monthly income and expenses.

1. Add up all of your income. In addition to your regular salary and wages, be sure to include other types of income, such as dividends, interest, and child support.
2. Add up all of your expenses.
3. Identify any out of pattern expenses (holiday gifts, home repair etc)
4. Once you’ve added up all of your income and expenses, compare the two totals and act accordingly (you should be spending less then you earn).

Whenever possible, treat your goals as expenses and contribute toward them regularly. Your goals are in constant need of attention and should not be taken lightly. Look at your expenses closely and cut down on your discretionary spending. All it will take is some determination and a little self-discipline, and you’ll eventually get it right.

You’ll need to monitor your budget periodically and make changes when necessary (you can’t plan everything!) Any budget that is too stiff is likely to fail. Just be flexible!

It’s important to stay on track when it comes to your budget. Don’t drive yourself crazy trying to do it on your own! Get your family in on it. Agree on a budget and check each other to make sure everyone sticks to it. Also, start your new budget at a time that would be simple to follow, such as the beginning of the year or month. Staying on track with your budget does not have to be all strict discipline! Plant rewards into your budget, such as going to the movies or eating out every other week. Everyone deserves a little wiggle room!
Planning and organizing your life and your expenses can be less of a hassle if you practiced at least a couple of these pointers. So go on now, budget, budget, budget!

Please let me know if you have budget and you are sticking it to or no…….