These are rough times for the global economy. It seems that everywhere you go credit is down, we have a stricken debt ceiling, the political parties can’t seem to get anything done in and unemployment seems stuck at the same place as last year. Unless unless you have an all-Apple portfolio, the stock market just can’t be trusted anymore. Of course, every one of these things that affects the health of the economy in general, affects the health of your own personal finances too. In these very uncertain and unsettling times, you need more than the ability to stay positive, confident and upbeat. How on earth are you supposed to do this? Hire a life coach?
Well, a life coach wouldn’t be a bad idea at all. Except that it can seem like obscene extravagance to even think of such a thing now. What are you supposed to do then? Coach yourself? Actually, it wouldn’t be such a bad idea.
Okay – you got the job. You’re your own life coach. What’s your first piece of advice going to be?
Well, the first thing you want to do in uncertain times is to learn as much as you can about the thing that worries you the most – your finances. You know what the number one cause of worrying is? It’s that we don’t really know enough about our situation. We worry about our job because we don’t really know anything about what the higher powers are going to decide, and we don’t know anything about what the value of our house is going to be tomorrow, and so on.
And so, we just sit there all anxious and stressed out. You can’t really know anything about these situations. But if you really can completely understand what your personal financial situation is, if you could sit down, look at all the money you have already and draw up a complete financial picture of your life, you would find that it would really help you become a whole lot more positive. People don’t realize how much actual tangible knowledge can help with their confidence.
Once you have tangible knowledge and you’re quite a bit more confident than before, you want knowledge that will actually help you feel upbeat. Few things can help you feel upbeat the way a tangible and solid plan can. You want to draw up where exactly you want to see yourself in a year, two years, five years and ten years. You want to really plan out how much money you want coming in and you want to draw up a plan how you might get there. A real roadmap for the future can boost confidence immensely.
You want to remove from your life’s things that make you feel stressed and uncomfortable. A lot of us invest in the stock market when we really shouldn’t. We invest in the stock market and then we are always looking to see what our investments are looking like everyday. If you have to do it that often, it looks like you’re not rich enough to be in the stock market. You really need to do what helps your confidence. Not what helps you stay stressed out. Invest in mutual funds instead.
If you want to find out more about this topic, then please visit the authors website – www.ninedotpartnership.com