3 KEYS TO GROW YOUR FINANCIAL CONFIDENCE
What’s holding you back from financial freedom? It’s an important question to consider. If you spend some time really thinking about it, the answers might surprise you. Robert Kiyosaki, one of my financial mentors, suggests three things that can tremendously enhance our financial confidence and that if we can practice these three things, there’s no limit to how huge our financial confidence can grow.
Here are three keys on how you can use to grow your financial confidence:
Pick a Direction .
To make it simple, think in terms of the four asset classes: paper (stocks, bonds, etc.), real estate, commodities (gold, silver, oil, etc.), and business (as in owning one or investing in one).
Which one sounds interesting? Pick one, go online, and find some resources to read. If you don’t like it, move on to another asset class. Dabble until you find what interests you. Then keep digging deeper. You’ll find your way. They say “Knowledge increases confidence” Therefore, if you get the appropriate knowledge on finance it will definitely boost your financial confidence.
Those who are successful simply use those hours more wisely. No matter how busy you are you can find time to invest in things that are important to you. Do you have a lunch hour at work? Read up while taking your lunch! Do you spend your evenings watching shows on TV? Trade in that time for some quiet study time. Taking the kids to practices and events? Bring a book with you or listen to a podcast while they play.
Most people probably have way more time available than they think. It’s a matter of being intentional with how you use it. Make time to grow your financial intelligence; automatically you will increase your financial confidence.
Pay Yourself First.
The only way to grow your financial confidence is by making your financial education and your investing a priority—the biggest priority, in fact.
So, each month, pay yourselves first. Do this by putting a set amount of money aside in the budget as an expense for our investing.
At the end of the day, if you practice these three things—picking a direction, making time, and paying yourself first—there’s no limit to how huge your financial confidence can grow. And when your confidence grows, so will your wealth.