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“Selfless Selfishness” – Putting yourself first financially IS caring for others – by Anthony Moncada

The Business of Health

I recently asked a fellow financial planner about her “mission” as a professional. Expecting the run of the mill warm and fuzzy response about making the world a better place I was surprised by her response (paraphrased):

“Number one, make a profit. Secondly, help my clients achieve x, y, z…..”

My colleague went on to explain that if they failed to generate profit, there could be no sustainable long term effort to help anyone.

Refreshed by the absolute transparency, I thought about how many more people could be helped if individuals used a calculated amount of “selfless selfishness” in pursuit of the greater good.

I am not for a second promoting a profit above all else approach.

Rather I am suggesting that if we are mindful of our own financial wellbeing, it will not only sustain us but amplify our ability to do good in the world.

So what financial decisions can you make to increase performance and efficiency and help you to help more people?

Here are a couple of ideas:

  1. Buy yourself some time – Outsource
    Get someone to do the things you hate and dread coming home to. Washing/ironing/cleaning/shopping/yard work/whatever – if you are making more per hour than it costs to do a job you hate, do the overtime and have it done for you.
  2. Live a little – Reward yourself
    Plan a minibreak every couple of months to recharge the batteries. This little indulgence might cost a few dollars but it will recharge the batteries and keep you in the game longer. It’ll also give you something to look forward to. Even the best players need some time on the bench to catch their breath.
  3. Reduce Stress – Looking after your finances
    The one factor contributing more to stress is personal finances. According to the APS – Stress & Wellbeing Survey 2015, personal finance contributes to stress in 49% of cases. Distraction from negative stress impacts the ability to focus and therefore impacts the quality and efficiency of work. Unfortunately the symptom is often treated without acknowledging the cause. If your finances are bothering you, be honest with yourself. Manage your finances and relieve the stress.
  4. Make a plan
    A haphazard approach will lead to haphazard results. Clarify your goal, make a plan, break the plan down to actions and do the simple steps.
  5. Ask a professional
    If you are unsure or uninterested by finances, get some help. You don’t need to be a financial genius to be financially successful. If you are a bit more financially knowledgeable then it’ll feel even better once you have a financial professional stress test & challenge your views. You’ll either be validated or better informed.

If you do these things you’ll have a better lifestyle, less stress, more clarity, time, security and support. These things combined will mean you have greater financial resources, more time and a better frame of mind. Combined, these aspects of your life will position you well to leverage your skills to have an even greater impact.


Anthony Moncada (MAppFin, BInfTech, DFS(FP), CertIV FMB), is Director of Wealth Strategic, a Financial Planning Practice specialising in helping Doctors, Specialists, Dentists, Physiotherapists and Health Professionals.

Anthony Moncada (AR 1234994) and Assurance Alliance Pty Ltd trading as Wealth Strategic (CAR 1234995) and Authorised Representatives of Dover Financial Advisers Pty Ltd AFSL 307248.

General Advice Warning – All strategies and information provided are general advice only which does not take into consideration any of your personal circumstances. Please seek personal financial and taxation advice prior to acting on this information.


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