April 4, 2015
Having the right mindset is a must as you set forth on becoming a good steward of your money. Why? How?
Having the right mindset is a must as you set forth on becoming a good steward of your money. Why? How?
Once you have enough money to take care of your needs and the needs of your family, the next step is to give back to others. Find an organization or a community group that is in need and has a meaningful cause and give back to them. There is only so much money that a person needs; define that level of ‘enough’ for you and everything over that amount, put twards helping others and making a difference in the world around you.
You cant let your emotions control you spending habits. You need to keep a level head when considering a purchase. You dont want to get caught up in a fad or get to attached to material things. You should always take in to consideration why you are buying that thing in the first place. If you want something just because you want it, that may be a sign to step back and look at your spending habits. The same applies to your investing. Don’t let your emotions take to much control in your decisions. You want to look at things from your own standpoint and not others. If everyone is freaking out and selling you want to see why that is and dont get caught up in the herd. If everyone is buying an investment just because it is going up stay on the sidelines and let your investments just do what they have been always. You dont need to jump at the fads and waves of the market to be a good investor. You need to stay away from that to be a good investor. Take emotions out of the equation when making a monetary decisions and you will make wiser choices.
Money itself does not bring happiness but it can bring a certain amount of freedom. Once you have that freedom you should understand how to give back to bring yourself true happiness. For most people meaningful relationships will bring happiness whether they are with a significant other, friends, a religious organization, charitable group or just your community. Actively work to give back with your time and money and you will be truly happy. Life all endeavors, being a good steward of your finances involves surrounding yourself with others who emulate that which you want to be. “Money can’t buy you life.” – Bob Marley
Great answers everyone. Let’s recap.
(1) A person with the right mindset can dramatically change the way their financial life turns out.
(2) Taking responsibility for one’s financial life requires education and application. With the right mindset amazing things can happen.
(3) Start today! Change the way you think and you’ll change the direction of your life. Believe in that and believe in YOU.