Worrying about money is not going to help your bank account or your wrinkle-free visage. The more you take control of your money the happier you'll be. It will also leave you with more time to focus on living life and continuing to earn income, without being paralyzed. So, of course at LearnVest we advocate empowering through knowledge. Start with setting up your Action Plan, reading the LV Financial Basics, and going through our Checklists. In the meantime, here are some key things to keep in mind as you are going through everything.
Love Where You Are
Appreciate where you're at in life and enjoy your lessons for all they're worth. Accept your stage in the game first before taking important steps to attain financial stability.
Check Your Thoughts
Examine how you really feel about money. What did your parents tell you about money growing up? How responsible were they with paying bills? Dig deep and explore any negative feelings or anxieties you have around the topics of spending and saving. Those deep-rooted emotions could be holding you back from financial gain. In short, get familiar with your money baggage.
Believe It's Possible
Wishing isn't going to make something happen, but if you don't believe it's possible, you may as well pack up and close your bank account now. (Sitting around depressed, we can assure you, will not have a positive effect.)
Step Into It
Living with lack keeps you stuck in that phase. Treat yourself occasionally; even if it just means getting that glass of (inexpensive!) Champagne at an occasional dinner, or a new black dress (on sale!). Living well, and avoiding stingy attitudes, allows you to step into your new reality.
Give and Take
Volunteer. You'll notice the benefits. It'll feel good, too.
If your mind isn't clear on a specific goal, don't expect it to be accomplished. Write down exactly how much money you want to make, and what you want your savings account to look like. Before he became famous, Jim Carrey wrote himself a check for $1 million and put it up on his wall. Post your goals on the fridge to glance at every morning before work.
Ignorance is not bliss when it comes to finances. These days, we shouldn't be afraid to ask our friends how much they make and how they save. If we can talk about intimacy, why not finances? Find the people around you who have wealth and spend time with them. Pick their brains about how they created their savings.
Love Your Work More Than Money
Charles M. Schwab said, "The man who does not work for the love of work but only for money is not likely to make money nor find much fun in life." Did you chose your profession because your goal was to make money? Or was it because it was your passion? Start with passion! The money will follow. Think about the doctors, accountants, and other professionals you go to. If they didn't love what they did, you wouldn't pick them.
There are plenty of traditional ways to save and prosper. However, these simple techniques can shift your mind and attitude, resulting in greener pastures ahead.