Broker's Journal by André Mikhail F. Obierez, RFC®

Business

Do you have the financial confidence?

By André Mikhail Obierez, RFC, CWMS, CPS

September 20, 2020

“You must gain control over your money or the lack of it will forever control you.” – Dave Ramsey, an American radio show host, author, and businessman

 

Do you know where your financial confidence stands today?

Money and wealth are not just the only factors we need to consider when we assess our financial confidence. It is only a tiny proportion of what we think it is. When you look further into it, there are greater aspects that we need to consider.  As humans as we are, we have different financial personalities and different circumstances that affect our financial situation. When we are financially confident, we take control of our financial situation. 

We always find ourselves secure when we are fully certain of everything. Having confidence helps you get the dream job you want and face every challenge and obstacle life will throw at you. Our financial confidence depends on our financial situation. This confidence plays a very important role in molding you not only to become a better person but also to provide yourself a promising future. It gives you the power to take charge of your financial situations and brings you higher chances of fulfilling the goals that you have planned.

To develop that financial confidence, here are the important principles you need to keep in mind.

Focus on accomplishing your goals

If you have an intention to do something, you have to put your 100% commitment and effort into it. Things get hard unexpectedly, and do not always go on your way. To avoid these situations, you have to commit to a long term goal. One common problem with long term goals is that you tend to lose track of your objectives, particularly when you are tempted to waste money on the possessions you only want for the short term. If you are finding it too hard to stay on track, you have to remind yourself of the possible outcomes of your actions today and how it can affect your future. Always make it a priority to keep your goals in mind and stay focused.

Do not be afraid of taking risks

As soon as you learn how to commit to your objectives, determination begins to develop. Being afraid is a natural and crucial part of growth. The next difficult thing is a little easier each time we decide to move out of our comfort zone. The greatest hindrance for people trying to fulfill their goals is getting stuck in their comfort zones. If you want to achieve these goals, you will have to step out of your comfort zone. When you finally move out of our comfort zones, you develop new skills and are going to fulfill more than ever before.

But sometimes, too much confidence can also be frightening. Do not forget to stay cautious with your money habits and create improvements that will benefit your growth to become financially confident.

Do not hinder yourself from growth instead, learn skills that will lead you to success

When you begin to focus on your financial goals while developing your determination and self-confidence, you will start to notice the growth and progress that you are capable of. You will now begin to see the new abilities that you have acquired during your journey towards financial confidence. The abilities to handle roles, situations, and tasks that you have learned during your venture will help you boost your financial confidence. Believe in the success that you are after. Believe in yourself.

Final Thoughts The benefit you get for your hard work in accomplishing your financial goal is financial confidence. Through self-discipline and persistence, you will be able to celebrate your success. Continue to seek learning because learning and research will give you more confidence. Your dedication to financial education will make you financially confident. Do not hesitate to seek help to your Registered Financial Consultants because they are your planning partner. They will help you boost your financial confidence and will give you more information about your financial situation so that you will get that success in your financial journey.

Disclaimer: Just a reminder, dear reader, that the content in this column is my opinion only and should not be construed as investment advice because I am not your financial adviser, neither did I take into consideration your personal objectives, financial situation, needs or circumstances as your fiduciary. This column is mainly for your entertainment and education only.