Hearts and Dollars: Personal finance strategies

LINDEN HIGHWAY, REGION 4, GUYANA, February 21, 2025 /EINPresswire.com/ -- In a recent presentation, Business leader, Chartered accountant, father, and author of more than 100 nonfiction books, Geary Reid shared some insightful guidance with the audience. The event was held at Regency Suites, 98 Hadfield Street, Georgetown, Guyana, and was hosted by Mr. Mikhail. J. Mc Kenzie.

The event, “Hearts and Dollars,” was a Relationship and Wealth Business Conference intended to educate people about their personal financial journey. Attendees asked questions, and some won prizes.

Some of the information the author shared with the audiences was extracted from the materials in these links (http://www.amazon.com/author/gearyreid and http://www.reidnlean.com/).

1. Know where they are today
Every individual must be real and know where they are today. They cannot look at everyone's success and fail to evaluate themselves. The evaluation may be shocking to some people, but remember that they are assessing themselves, and they do not have to be afraid of the outcomes. When they know the evaluation's outcomes, it will be time to take appropriate action.

2. Know where they want to be in another 5 to 10 years
After knowing where they are, then it is time to focus on the future. Planning is good. Therefore, start planning today.

Personal plans should cause people to think of what they want to accomplish in another 5 to 10 years. Despite not knowing if they will live so long, planning is still important. It is referred to as a strategic plan.
People’s strategic plans must include their personal desires, their companions, and their children. If the plans are too simple, they need to review whether they truly have strategic plans.

For example, strategic plans may include some of these points:
· Increasing one’s academic
· Finding a companion
· Purchasing a vehicle
· Constructing a house
· Starting a business

3. Prioritize One’s future plans
While they have many strategic plans, remember that all of them will require money, time, and other resources. Therefore, prioritize them. Please put them in order based on what they would like to accomplish first and second; the rest will follow.

Try not to have too many strategic plans; it may not be easy to complete many of them soon.

4. Put one’s plans into financial and non-financial categories
Some of their strategic plans will require money (starting a business or constructing a house). There are others that do not need money (e.g., Finding a companion).

For those that do not need money, then it may be easy to implement. Concerning those that need money, then careful planning must be done to utilize the funds that are available.

5. Establish a budget and try to stick to the budget
Individual’s budget will guide their future financial decisions. The budget is important to help individuals realize their strategic plans. Try to live within the budget.

The budget will include personal income and expenditure (expenses). Individual monthly spending must not exceed one’s income. Take some time and establish a budget. It may not be completed in one day, but keep including relevant information so that they have a realistic budget to work with.

6. Consider the source of income
If their current income is insufficient to realize their strategic plans, they may need to seek other legal opportunities to increase their income. These may include having a second job, starting a business, or changing careers. It can also include starting a business. Their skills can be used to teach others or provide consultancy. Never limit oneself. There may be something that they can offer to others, which may not cost us anything much.

7. Go after those future plans
Besides planning, it is time to go after those plans. Make it into a reality! Try to fulfill those plans and not the plans of others. As time passes, keep evaluating those strategic plans to know if they are accomplishing the things that individuals are out to do.

GEARY REID
REID'S LEARNING INSTITUTE AND BUSINESS CONSULTANCY
+ +592 645 2240
[email protected]
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