No matter what the subject is, everyone always says, “Don’t look back”.

For the most part I would agree with this.

Looking back is not for the faint of heart, because you either discover things that you might not want to know or, worse, you look back on an imagined version of how circumstances were, draw the wrong conclusions about the situation and wind up making a big ol’ mess of the present, by making decisions based on your “imagined version” of past facts.

Equally fraught with danger is the habit of devoting your time to dreaming of a rosy future state without bothering to plan an effective series of steps to guide your way.

Granted, you do need to have an intended destination to aim for in order to make positive progress in life possible, but your attention to your behaviour needs to be anchored in “the now”, because we all tend to reap what we sow as we progress through life.

I remember a medical student once told me that the secret to surviving the long and stressful hours of the hospital residency, that are required to become a practising physician, could be boiled down to two pieces of advice: when you see a chair sit in it; when you see food eat it.

The point being that unless you learnt to pace yourself and conserve your resources in the present, you would never survive the extreme physical demands of a medical residency in order to become a successful doctor in the future.

So, how can we apply this exercise of resource conservation to our daily lives? Should we turn the lights off at home when we leave the room every time?

Should we only eat half of that apple pie today and the other half tomorrow? Should we wear the same clothes for a several days to save on washing?

Perhaps, more appropriately, should we learn to pay more attention to how we spend our money now, so we can save for our own future?

Essentially, successful long-range money management also can be boiled down to two simple strategies: when you see a way to save a dollar save it; before you spend a dollar know how you will replace it.

Yes, there are more complex ways of planning for your financial future when you have lots of money but if you don’t, know this: before your money can grow, you have to invest.

Before you can invest, you have to understand how to save. Before you can save, you have to understand how to spend wisely.

If you don’t have control of your spending now, you will tell yourself that it is not possible to save, putting your entire future in jeopardy.

So how can you learn more about these and other simple but effective savings strategies now, in order to make the most of your financial future?

One way is to attend the next Money Matters webinar that is to be held by Butterfield Bank and the Olderhood Group at 8pm on Thursday October 24.

You can attend from the comfort of your own sofa by means of any laptop, tablet or mobile phone with internet access.

The webinar is free and open to all island residents, but registration is required.

You can register online at: bit.ly/butterfieldwebinar.

• Robin Trimingham is an author and thought leader in the field of retirement who specialises in helping corporate groups and individuals understand and prepare for a new life beyond work. Contact her at www.olderhoodgroup.com, 538-8937 or robin@olderhood.com