If your financial intelligence is low,money will run on you. It ‘ll be smarter than you. You ‘ll work for it all your life.To be the master of money,you need to be smarter than it-Robert T.Kiyosaki
Financial freedom is the wonderful ability to make choices about what we want to do in life without the restrictions of money pressures. This doesn’t mean we need to be wizards at making money,or that we must own profitable businesses.
Confront Your Fears
The number one fear that many have about money is that they will be broke when they are old.Financial expert and best selling author Dr.Judith Briles says,”Statistics show that for every one hundred women and men who reach sixty five, only two are financially independent.The reality is,whether you are rich,poor, or in between,the person you need to rely on to keep you from the poorhouse is You-your creativity,your imagination,your intuition and your smarts.” Other big fear about money include:
- Losing money
- Looking stupid
- Talking about money
- Making mistakes and failing
- Borrowing money
- Creating and sticking to a plan.
- Not trusting themselves.
- Sticking with people who give bad financial advice.
Do you show up anywhere on the list? Oftentimes,your upbringing is usually the main factor influencing your money habits. Most people would like to have more knowledge and insight about money but grew up in homes that avoided any such discussions.There were surface talks,but rarely any meaningful instructions.Take some time to write down your fears and beliefs about money. How are these holding you back? How do you feel about debt?What is your risk tolerance when it comes to investing? Old negative beliefs will keep you stuck. As I mentioned before,you can beat this by stepping into your fear. The best way to do that is by implementing the next step.
Become Financially Intelligent
Learn how money works. It’s not that complicated. There are many courses you can take from the most basic,how to balance your checking account,to sophisticated investing. Check with your local community college. If you don’t have time to take a course,numerous books will teach you everything you need to know. The Internet is a raw storehouse of financial information. Invest one hour per week in home study. If you feel lacking in knowledge or understanding about money,set a realistic goal over the next few months to educate yourself.What you don’t want is to get caught in the middle of a financial crisis caused by bad choice that could easily have been prevented with a little knowledge.
Do A Reality Check Now
The financial truth is often intimidating,so people avoid it or deny that anything is wrong. Sticking your head in the sand is not the way to get out of your money problems. Some women will blame their husbands,partners,or friends who gave them bad advice-anything to avoid reality.If you are struggling financially,a total honest appraisal is essential.Many people are living in a fantasy,instead of the real world. Schedule a time to do this apraisal thoroughly. Write down in detail where the money goes every month versus what actually comes in after taxes. You ‘ll be amazed at some of the ways your money is slipping away. That double latte every day is costing you a few dollars a year! Maybe that’s okay,maybe it isn’t.Are there more important priorities?This exercise may be difficult,especially if the debt is substantial. The good news is that you can immediately start working on a new course of action based on the truth. In the long run,your honesty will pay much better dividends than before.
When you stretch yourself to go beyond where God puts you or find yourself as a “wannabe”(whatever this person has,I sure need to have same),you are invariably telling Him you aren’t satisfied with his plans for your life and that will ultimately lead you a downward slope.God programmed us to have delayed gratification in that we might have to wait(hope) on Him for anything we desire in life.Once we are able to work this through,at the end of the day,we are more fulfilled and happy when we finally receive whatever we’ve believed Him for.When we are able to master this truth,we ‘ll not have to go overboard when things don’t go well as we have anticipated.