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March 2011
From The Director

Greetings,

Throughout our 10 years of advising clients,  we have found many people mistakenly believe that they do not have the disposable income necessary to invest for their future financial needs.  Oftentimes, these are the same people that aren't clear about exactly what they are spending their money on.  In other words, they have not taken the time to analyze their expenditures.  This month's article discusses some misconceptions and the importance of budgeting in order to allocate money where it would benefit them most.

As always, we welcome your feedback.  If you have any questions, or would like additional information, please do not hesitate to contact your financial advisor.  Should you not currently have an advisor at Select, please reply to this email and one of our senior consultants will contact you promptly.

Best Regards,

Imants Katlaps

Managing Director

Article

"Discipline is the bridge between goals and accomplishments.”

- Jim Rohn

The word “budget” often strikes a negative chord with many people.  Thoughts of “sticking to a budget”, being “over-budget”, and “living on a tight budget” conjure up images of sacrifice, penny pinching and a life of less enjoyment.  However, quite the opposite is true.  Undisciplined spending without having a budget paves the way for your money to start controlling you when you should be controlling your money.  Considering the fact that financial instability is one of the major causes of stress, depression, worry and even marital trouble, having a budget and staying in control of your finances could actually make your life a whole lot easier and enjoyable now and in the future.

Let’s take a look at some of the common misperceptions regarding setting and maintaining a budget:
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