Personal Finance – Financial Freedom and the Power of Positive Relationships

In another article about achieving financial freedom, we talked about how your financial plan had to take the rest of your life into context. For example, getting your physical health in order helps you to be focused and to have great willpower and self-control (hard to focus when you’re fatigued right). On top of this, it’s important to have a career that inspires you and gives you a sense of meaning. Otherwise, you’ll spend a lot of extra money making up for the lack of meaning and happiness in your life.

However, the influence of your relationships is impossible to overlook when it comes to the impact on your ability to achieve financial freedom. Here’s why…

Toxic Relationships Threaten Your Financial Freedom

Have you ever known someone who went through a divorce? If so, I bet they lost of lot of financial assets because of it. Some people even lose everything that they have and end up paying alimony for years. This is why it’s so important to choose a partner who is not only financial responsible, but who has the same financial goals as you do. If not, you might just be making beds in a burning house. After all, money problems are the number one cause of divorce in North America.

It’s been said that marriage is grand, but that divorce is about 100 grand. If you’re in a position where you can avoid getting yourself in financial trouble in your choice of a partner (this is for you single people), you need to do whatever you can to do the right thing now. This is why pre-marital counseling can be one of the most valuable investments that you can make in your future.

Think about it, the average wedding costs newlyweds several thousand dollars, while few people ever invest in pre-marital counseling. Just do it, you’ll be glad that you did someday.

The other thing to consider is friendships or business relationships with people who are financial irresponsible. Getting into these types of relationships can often cost you money or time when you end up having to clean up after the other person. Find the toxic relationships and get them out of your life, your financial freedom and your happiness depends on it.

Great Relationships Support Your Goals for Financial Freedom

As much as toxic relationships threaten your financial freedom, great relationships with financially responsible people support your goals for achieving financial freedom. People who are financially responsible are less likely to discourage you from controlling your spending and just being around them inspires you to strive for greater levels of achievement in your financial life. I hope this article has inspired (and maybe even scared) you into taking a good long look at your relationships and towards building relationships which will empower you to achieve great financial freedom.

Find out more…

A Look at Financial Analyst Jobs

All major business decisions are made with finance in mind. The role of a financial analyst is to provide financial support to clients and fellow colleagues that will help them make sound business decisions and set strong forecasts for the future.

The exact nature of the role itself will vary depending on the size of the organisation, with larger ones, the analyst will be dealing with strategic analysis whereas in smaller business, the analyst might also look after preparing and collecting accounts.

They will be asked to set financial budgets for the long term and short term plans of an organisation and will need to advise on decision making in regards to financial implications before decisions are made. All the plans, advice and practices will be scrutinised to ensure they are inline with financial regulations and legislation which the analyst will be expected to keep up to date with as changes are made.

Financial analysts will also be required to monitor and interpret cash flow while predicting any upcoming future trends that will affect business decisions. They will look at existing processes and try to streamline them so that value added analysis and insight can be incorporated. As well as looking at their own organisation, analysts will need to look at competitors in the market and identify market trends that can be used to push their own business forward.

Good communication is key within the role as the analyst will be expected to liaise with auditors to ensure the correct monitoring is carried out and talk to external contacts such as solicitors, bankers and statutory organisations. When it comes to personal skills a financial analyst will be expected to be very results driven. This means that they will be expected to not only be proactive but hit all deadlines while remaining calm under pressure. An analyst will need to have very clear views on how to prioritise things and be able to drive relevant changes.

There are many industry sectors that a financial analyst can work within including Telecommunications, Consumer Products, Media, Retail, Business Services, Professional Services, Pharmaceutical, Advertising, Public and Not for Profit.