Tagged: money smarts
Money Smarts … So, What Are Your Money Fears?
Everyone has at least one. It’s time to confront your deepest financial fear and get them in the open. Whether it’s the fear of the soup kitchen or of making a mistake that is financially catastrophic, you can become inhibited from taking action.
Identify them. Write them down. Just the mere fact that they are on paper opens the door for you to commit and confront them head-on. Ask yourself,
# 8 The Fear of Not Trusting Yourself
Gender differences surface in the trust department with money and investing. Men are less inclined to stick with an advisor whose advice has gone sour and they don’t abdicate financial decisions to someone else as easily as women do. Advisors can help . . . but don’t discount your own experiences and intuitiveness.
Money Fears # 6 … The Fear of Borrowing Money
Wouldn’t it be great to pay cash for everything, including your home? Few can. Sometimes, it makes sense to borrow money. But, over-borrowing and too much credit is quite common.
A credit card is used over 600 times every second of the day; over 36,000 times a minute; over 2 million times an hour; and over 52 million times a day. The average household owing in excess of $9,200 in credit card debt. What’s yours?
#1 … The Fear of Being Broke
At the top of the list is the fear of being broke, “Will I have enough to buy the foods I want, the medications I need or be able to pay for the things I want to do when I stop working?”
Years ago, a client had asked me if I would take the time to go visit his mother. He told me that she had some investments, lived mostly …