We all have a picture of the clown at the circus; in their red polkadot suit, shoes flapping like the wings of an albatross, and juggling everything from tennis balls to flaming balls.

Take a moment for me and stop what you are doing.  Look down at the end of your nose.  Do you see a large red ball on the end of it?  If not, then you are not a clown.

When it comes to money I define a clown as someone who is constantly juggling.  A “Financial Clown” juggles everything from bills, debts, credit cards, houses, cars, jobs, commitments, promises and dreams.  The problem with juggling is that nothing stops long enough for you to enjoy it.

I don’t mean to offend anyone, so let’s not get into name calling, rather allow me to speak some simple truths that may help you, or someone you know that juggles their money.

1.  What gets written down gets achieved. When it comes to juggling bills I find that most people pay them when they come in, programming the bill for the due date inside their internet banking. Or worse, they put them in a pile or a folder and wait until someone calls.  Those people with a short term focus end up juggling eventually, as this short term focus does not allow control.  I recommend a minimum of a monthly focus.  (The best is what I call an Annual Plan).  Write out the next month on a time-line, all the income you are expecting to come in and all the bills you are planning to pay.

2.  Do not collect debts like you collect socks. This principle sounds easy, but still many people I speak to line up their hire purchases or credit cards in a row.  One lady I met had SEVEN short term debts.  Now that’s a real example of a talented juggler!  A clown collects toys to juggle, but not you.  I prefer to teach people to save for their goals rather than put them on ‘tick’.  In saying that, if you have strong discipline do not get yourself in a position where you have more than two debts to pay, excluding your house.  If you are already over that limit, guess what your next goal should be.

3.  Check your pulse often. When it comes to your money, your bank statements are you pulse.  Are you alive or are you dead - either way it would be good to know.  I was shocked one day when a lady told me “I never open my bank statements because they are always bad news!”  Often when someone is juggling their finances it is because they do not have their finger on the pulse.  Think about it this way, if you are busy checking your pulse you don;t have time to juggle.

I’ll finish with three more tomorrow.