Are You Financially Prepared?

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My wife and I walk through our neighborhood most evenings where some new houses have been built.  They’re all worth over a million dollars, and most are occupied with young families.  But they don’t just have a new expensive house; they also have beautiful boats and new vehicles and motorbikes peeking out of the garage.

Some have access to family money, but many have got to be up to their eyeballs in debt.

A client recently met with his banker, and his banker’s comment was, “We don’t know what inning we’re in, but the game is coming to an end.”

Financial cycles usually come every 7-10 years or so.  The economy goes up, the economy goes down.  That’s just how it tends to work historically.

The last down cycle was in 2008.  So…  Nobody knows when.  Maybe we’re good for another 10 years.  Maybe it’s all ending next month.

Some questions for you to consider:

  1. Do you have an emergency fund? Could you go without any income for 3 months?
  2. If you went to renew your mortgage, and interest rates were 1% higher, would you be okay? For many, that would be a 30% increase in payments.

For your interest, here are some basic habits of people who have their act together in the area of finances:

  1. They avoid consumer debt: They don’t carry a balance on their credit cards.  They don’t lease their cars.  They don’t borrow money for luxuries like holidays or toys.
  2. They pay themselves first: Each month, they save or invest 10% of their income.
  3. They clamp down on dumb spending: Starbucks is evil.  You can make a coffee at home for next to nothing.  Amazon is evil.  You don’t need that stuff; why tempt yourself? You can make a big difference by eliminating spending on things that you don’t really even care about.
  4. They don’t buy stuff to impress others: Your kids can wear clothes bought at garage sales.  They won’t die. People on Instagram are lying; their lives are messed up too, just like yours.

So, make sure you’re safe when trouble comes.  Watch a Dave Ramsey video if you need to know more (look him up)!

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Written by Trevor Throness
Trevor is a veteran coach, keynote speaker, and the author of the book “The Power of People Skills” released by Career Press NY in 2017. He’s also written for or been featured in places like Forbes, Inc, The NY Post, The Globe and Mail, Entrepreneur, CEO Magazine, and numerous podcasts and interviews.

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The PLI program was invaluable to our network.
The range of topics delivered, the open dialogue, experience, and examples that PLI brought to each session were outstanding and provided a path for our Franchisees and Managers to look at leadership, coaching, and connecting with their teams in a new light. Many have implemented these strategies in their bakeries and have seen immediate results.
Michelle C.
COBS Bread
Highly recommend to help your team move forward
We have locations around BC and Alberta, so getting people on the same page can be very difficult... Until now. Our entire management team and location managers take the same great courses and then meet monthly online with our coach to apply it to our situation. People are engaged, the courses are excellent, we love our coach, and we are all learning together!
Jason Fawcett
President, Kelson Group
The result has been a transformation of our culture. 
We decided to implement PLI's strategies across the country in over 150 locations and over 3500 employees.  The result has been a transformation of our culture.  People's lives have been positively impacted - professionally and personally.  Morale is high and sales and profits are up as a result.
Daryl Verbeek
Daryl Verbeek
We’ve learned how to fix ongoing personnel issues once and for all
The roadmap laid out set our business up to quintuple in sales.  We've learned how to fix ongoing personnel issues once and for all, attract top talent, and spend our time focused on results, not internal staffing problems.  I highly recommend PLI to you - it's worked for us!
John DeJong
Satisfied Client
I had no idea that running a business could be this fun!
In less than 18 months of working with Trevor, he has transformed my business from being average to exceptional, where mediocrity is not acceptable, where being great is standard.  Working with PLI has allowed me to realize my dream of not simply owning a job, but owning a business.
Justin Bontkes
Principal, Caliber Projects
Our culture has taken major steps forward this year
Our culture has taken major steps forward this year with Trevor’s help.  He is funny, relatable, and his tools are very very practical and have helped us focus and upgrade our teams throughout our retail network. Trevor recently spoke to an employee group, and one person remarked, “I could listen to Trevor all day.”   We would highly recommend Trevor.
Stan Pridham
Founder, KMS Tools
The results have been remarkable
At first, we resisted, “This just won’t work with a law firm.” But we persisted and the results have been remarkable: our client base and profits have steadily improved, and staff engagement and morale is the healthiest its ever been.
Doug Lester
Partner, RDM Lawyers
Helped our fast-growing business become what it is today
I've experienced PLI's approach first hand and it's been crucial to sustaining our growth.  I can't imagine a business that wouldn't benefit greatly from his help.
Brian Antenbring
Founder, TEEMA
Provided practical ways to make positive changes
Trevor was incredibly well-received by the entire organization. He was able to articulate people issues that many of our franchisees were experiencing and provided them with practical ways to make positive changes. We have implemented the Star Chart tool across the organization and see it as vital to building happy, effective teams.
Aaron Gillespie
President, COBS Bread
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