The short answer is “Yes”. The long answer is that it takes a strong person to do that successfully.

In late 2008 we came up with a crazy idea: What if we took a year off and travelled with our kids to show them the world? Our imagination started to build our levels of excitement as we considered all the amazing, life-long benefits this trip would establish in our family. When you think like that the decision becomes quite an easy one.

This year has been The Strong Family Adventure where Kathy and I have purposely set out on a journey to build our family with purpose. We have travelled across the world with our kids finding opportunities to learn and grow together. We have laughed and cried, we have met some amazing people and seen some amazing sights. We have travelled by plane, train and automobile – even spent a week on a cruise ship. We have walked the sights of cities like Washington DC and Rome, walking for up to 13 hours some days. But most of all we have invested time into our children in a way that we could not have achieved if we had stayed at home.

This hasn’t been a total glamour trip by any means. We have slept in airports, we have slept in cars, we have slept in our tent. We have skipped the odd meal and we have made sandwiches in car parking buildings. In contrast, there have been amazing miracles like the Condo we lived in on the beach in Florida, a surprise four course meal in a resort hidden high in the hills of southern Italy, or the free tickets we were given to the Louvre in Paris. Every one of our experiences comes with a story with memories that bring back the laughter or the tears

(If you want to read some of these stories you can find them on our blog site: http://www.strongfamily.co.nz)

Our focus this year has been purposeful – Faith first, Values second, Character third, Relationships fourth, and Education fifth.

This trip has been about teaching our children by showing them how to live. I have discovered that when you lead you family by design you can have the ‘perfect family’ – and that’s one that is the best you can make it.

Sure, taking a year off and travelling internationally is an extreme way to achieve all of this. But for me the desired outcome justified the means. This was by no means a financial decision… but the point I would like to make today is that not every decision has to be made for financial reasons.

not every decision has to be made for financial reasons

As you begin to set your course for 2010 I want you to consider your family. Sure, your efforts to strengthen your finances is most likely because of your family. I am sure that you’re like me and making every effort to be strict with your budget to build a secure financial future for your children. But please do not make the mistake of “missing” life’s rich experiences because the budget does not allow for it.

When it comes to setting your budget you will no doubt have heard me teach the importance of establishing agreed Financial Priorities, which are your financial values. These Financial Priorities are the foundation on which you build your Financial Goals. And it is the combination of the Priorities and Goals that determine your Budget. Here’s an idea – if your family is important to you make room for it in your finances!

My closing challenge to all of us comes in the form of three questions:

1. Have you considered including “Family” as one of your Financial Priorities?
2. What price are you prepared to pay to lead your family by design?
3. What is one Family Goal you would like to see your family achieve in 2010?

As you work though these questions and the thoughts that follow I encourage you to talk about them with your kids. Together you will begin to establish some plans that will see new opportunities open up for your family’s future.

I know that our family will never be the same because of the plans we made for this year, and the plans that are developing for the next years.

Have a safe and happy Christmas, and an exciting start to the New Year.

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In this Video Blog Series Phil is answering questions that have been submitted by readers.

Today’s request is “Please explain compound interest.”

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Phil shares five thoughts that will help you with this.

• Compound interest is when your investments earn interest on top of your interest.
• A simple example – investment.
• Also works (against you) on your debt; mortgage, credit card, loans.
• A simple example – debt.
• Compound interest is fantastic when you are earning it, but deadly when you are paying it.

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For those of you with a mortgage, you will want to learn more about how your mortgage works so you can be mortgage free sooner. Get your free DVD by clicking below:

How To Make Sure You Don’t End Up With A 50 Year Mortgage

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You can submit your own question by replying to this blog, or by registering for your free gift from Phil at http://philstrong.com/freegift/

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In this Video Blog Series Phil is answering questions that have been submitted by readers.

Today’s question is “Should you wait to teach your children about money?”

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Phil shares six thoughts that will help you with this.

• My answer is DEFINITELY NO, don’t wait!
• Start with very basic things with your pre-school kids.
• Pocket money allows them to learn by playing.
• Help your children to Share, Save and Spend.
• Use the power of goals to develop the discipline of saving.
• If you wait, it will be too late!

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Watch out for Phil’s next book – Kids and Money – released late in 2009.

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You can submit your own question by replying to this blog, or by registering for your free gift from Phil at http://philstrong.com/freegift/

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In this Video Blog Series Phil is answering questions that have been submitted by readers.

Today’s question is about “What percentage of income should I put aside for emergencies?”

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Phil shares four thoughts that will help you with this planning.

• What is an emergency fund?
• What types of situations constitute an ‘emergency’?
• The financial planning model for calculations.
• Where should you put your emergency funds?

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You can submit your own question by replying to this blog, or by registering for your free gift from Phil at http://philstrong.com/freegift/

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In this Video Blog Series Phil is answering questions that have been submitted by readers.

Today’s question is about “How much money do I need to retire comfortably?”

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Phil shares three thoughts that will help you with this planning, including some wisdom from his retired father-in-law.

• Ask ‘How long would you like to be retired and how much would you like as an income?’.
• My father-in-law says when you are retired you will want life to be simple:
  - have enough money to live comfortably
  - have enough money to travel to see the people that you love
  - have enough money to have fun
• You can take two different approaches to funding your retirement:
  a) money saved in the bank
  b) recurring income that continues in retirement

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You can submit your own question by replying to this blog, or by registering for your free gift from Phil at http://philstrong.com/freegift/

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In this Video Blog Series Phil is answering questions that have been submitted by readers.

Today’s question is about “How much money is normal for a kid’s allowance?”

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Phil shares seven thoughts that will help you with this situation.

• Under the age of 6 not much money is needed.
• Here’s why you should definitely use cash, coins for under sixes.
• Phil teaches kids to do three things with their money, all starting with “S”.
• After age 6 link the amount of pocket money to their age.
• You determine how often they get pocket money, (weekly, fortnightly, monthly).
• Tweens and Teens require a different model.
• Give them some freedom – within your boundaries!

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Watch out for Phil’s next book – Kids and Money – coming out late in 2009.

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You can submit your own question by replying to this blog, or by registering for your free gift from Phil at http://philstrong.com/freegift/

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In this Video Blog Series Phil is answering questions that have been submitted by readers.

Today’s comment from a reader is “We are forever struggling financially and stressed…”

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Phil shares four thoughts that will help you move forward from this situation.

• Understand what is important to you (as a family).
• Set some exciting goals (as a family).
• Create a budget – your personal plan to control your money
• THEN: create a plan to get out of debt as fast as you can.

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In addition, here is a free resource to help you become debt free, by author John Burley.

http://philstrong.com/resources/JohnBurley_DebtFree.pdf

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You can submit your own question by replying to this blog, or by registering for your free gift from Phil at http://philstrong.com/freegift/

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In this Blog Series Phil is answering questions that have been submitted by readers.

Today’s question is about “How do you get rid of your mortgage?”

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Phil shares four thoughts that will help you with this situation.

• It’s important to understand the WHY before the how to achieve morgage payoff.
• Calculate how much you will give your bank over the next 30 years.
• Phil shares his favourite question to ask.
• Check out the coaching program that teaches the 5 strategies Phil used to pay off his mortgage by age 30.   http://howtosmashyourmortgage.com.

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You can submit your own question by replying to this blog, or by registering for your free gift from Phil at http://philstrong.com/freegift/

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In this Blog Series Phil is answering questions that have been submitted by readers.

Today’s question is about “How much of my income should I commit to my mortgage?”

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Phil shares five thoughts that will help you with this situation.

• The concept of a multiple of your gross income is old school thinking.
• Applying a multiple to your income does not factor in expenditure.
• In addition, this formula does not factor in interest rates.
• Focusing on a percentage of your net income tends to encourage you to borrow too much!
• Instead, use your budget to determine the amount of borrowing and the structure of your mortgage.

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Get more information on how mortgages work by getting your hands on this FREE DVD.

How To Make Sure You Don’t end Up With A 50 Year Mortgage.

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You can submit your own question by replying to this blog, or by registering for your free gift from Phil at http://philstrong.com/freegift/

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In this Blog Series Phil is answering questions that have been submitted by readers.

Today’s question is about “How do I budget for a new car?”

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Phil shares five thoughts that will help you with this situation.

• Apply the Goals Formula that Phil teaches in his book Becoming Money Wise.
• Clearly identify the details of the financial goal.
• To “quantify” the goal means to work out the numbers.
• Understand the principle of committing to saving.
• The key to achieving goals is __________ __________.

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You can submit your own question by replying to this blog, or by registering for your free gift from Phil at http://philstrong.com/freegift/

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