Comfort in Numbers
Melissa Browne is an accountant, adviser, author and shoe addict. She finds great comfort in numbers. Melissa says,
“I believe there is great comfort in numbers. Let me explain with some examples:
- A young couple want to buy a home or apartment and want to save for a deposit, but don’t know how much they need or what it takes to get there.
- A family find that every week they are falling behind and relying on credit-card debt to fill the gaps.
- A student wants to study overseas but has no idea how to fund it or what it might cost.
Each of these examples can cause stress for those involved and I believe most of that stress comes from the uncertainty of knowing what is needed. All they have in common is that no one understands how much they need and what they need to be doing to get there.
Instead, let’s say each example decided to confront the numbers:
- The young couple researched different suburbs and different housing options and spoke to a mortgage broker. They now understand they need a deposit of between $35,000 and $55,000, depending on the option they choose.
- The family spends a month keeping track of what they are spending. After the month, they spend time together working out where they can cut back in order to reduce stress and avoid relying on their credit card.
- The student researches the cost of studying overseas and works out they need $10,000 for 12 months. They work out a plan of working/studying for 12 months (and not doing much else) with a departure date of July 2015.
How does each example find comfort in their figures – particularly when they are, in some instances, quite large? By facing up to what you need and the numbers you are dealing with, you can make a plan to achieve your goals, meet your budget, or change what you are doing to live within your means. By avoiding the numbers, it is easy to be stressed about the unknown. By recognising the numbers, acknowledging them and then acting on them, you can find comfort in them, knowing what you need to do to stay on track.” Read more here.
