March 3, 2014
Take stock of what you know and give your money mojo a boost with these three key principles:
Principle One: You know more than you know It’s common for people to think they don’t know much about money – something that has been exacerbated by the overuse of jargon by the finance industry. Of course, complex money issues demand trustworthy guidance, but on the personal money management front, you’ll probably surprise yourself at how much you actually know.
So, build some confidence by: (1) listing all the things you know about personal money management, and (2) list the things you want to know about money and set about finding out the answers/details.
Principle Two: “I’m no good with money” is so last season This is a particularly dangerous mind-set because it limits your potential right from the start. If you’ve fallen into this trap, remind yourself that a new year can be a fresh start. Just like anything we want, or in this case, need to be good at – it just takes a little attention.
Principle Three: Money is only as scary as you let it be Money is scary – well yes it can be scary checking the bank balance, especially if you know the Spend Devil has gotten the better of you. But in truth, money is only scary when we don’t know what we’re doing with it.
Once you have control over what you want it to do for you and a good amount of knowledge about how to get there, you’ll surprise yourself with just how in control and comfortable you feel about your options. Transparency is key: the more you know about where you are and where you’re going, the less scary it is.