Finding Financial Confidence To Make Smart Money Decisions
Find the Financial Confidence You Need To Make Smart Money Decisions
March 10, 2020
Making financial decisions, and feeling confident about them, is no easy task.
The decisions we make for our money can have long term effects on our financial well-being. And that can be a terrifying realization.
Decisions like: How much mortgage can I afford? Is this the best price I can get on airfare? How much should I be saving? Do I invest my savings? What do I invest in? Can I quit my job? Do I have enough money to retire?
These are all tough decisions, and it’s easy to stress out about making the “right” choice. If we aren’t a financial professional, money expert, or a travel hacking guru, we may not believe we have the expertise needed to make smart money choices. And this makes feeling confident in our financial decisions hard.
We stress about making the right decision and afterward spend way too much energy worrying about whether or not we made the optimal choice. And sometimes our fear prevents us from making a decision at all.
It’s a struggle I face all of the time. Especially since I’ve surrounded my online self with people who, in my own head, appear to be making all of the right financial decisions.
How the heck can this Food Scientist (that's me) have the knowledge needed to make smart financial choices? There are way too many “what ifs” to consider! What if I make the wrong decision?
This limiting belief, an idea about myself that constrains me in some way, has me at times convinced that I am not capably of making smart financial decisions.
And battling this limiting belief has been a challenge.
But through the years, I’ve started to build that needed confidence. And, boy, does it feel good.
With a few strategies, I’ve been able to grow confidence in the financial decisions I’ve made while feeling and being ok when they don’t work out as planned.
If your eyes glaze over and you feel paralyzed when it comes to making financial decisions, here are a few ways to help you build the financial confidence you need to make smart money decisions.
Strategies For Building Financial Confidence
Align Your Financial Choices With Your Future Money Goals
What exactly is a smart financial choice?
It’s a money choice that aligns with your financial and life goals.
Therefore, simply knowing your financial goals is the first step to making smart financial decisions for yourself.
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Fidelity Viewpoints
Key takeaways
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Set up automatic transfers to help boost your savings and keep you on track.
Build up your emergency savings to cover unexpected essential expenses
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