What the Dickens?

1935: David Copperfield - George Cukor

Financial Planners often quote Mr Micawber a character created by Charles Dickens who would be 200 years old today, born 7th February 1812. The quote often referred to is commonly known as the Micawber principle.

"Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

In short, spend less than you earn. However Mr Micawber was also something of an optimist, or hopefully expectant, asserting that "something will turn up". However Micawber experienced various financial difficulties and eventually emigrated to Australia. Whilst fresh starts are certainly possible, emigration is perhaps a little extreme in 2012, though I'm sure that many Greeks may be considering just this over the coming weeks. Most of us probably would find ourselves rather like Oliver Twist asking for a little more. However a good financial plan will help identify the bumps in the road before you reach them and also help provide information about how to reduce or even avoid them entirely. Good financial planning is not optimistic maths, but the thoughtful and realistic application of assumptions (which are reviewed) and then structured around your specific goals and ambitions, paying close attention to your personal values.

 

There are celebrations throughout the year to mark the 200th birthday of one of England's most celebrated writers. The Charles Dickens Museum in London is running various events throughout the year.