Guest Author - Sharon Michaels
Developing financial self-confidence goes hand-in-hand with creating wealth. Here’s a fact: The more financially confident you are, the more money you will allow yourself to create, control and enjoy. Let’s look at a few self-help tips for building your financial self-confidence and your wealth.
1. Clearly and vividly define wealth and prosperity.
Do you have a clear vision of what your wealth looks, sounds and feels like? Have you actually written out a definition of what wealth means to you? Is there a certain emotional and/or physical monetary figure that denotes financial prosperity?
Let me ask you this, if you haven’t yet taken the time to clearly define wealth then how are you going to know when you’ve achieved it? One aspect of financial self-confidence is having a clear picture of what the financial future looks like and how it’s becoming your reality.
2. Strive for being proactive with your finances -
It’s your money and if you don’t know what’s happening to it or with it, shame on you! Developing financial self-confidence is about competently controlling your current finances and learning how to manage future wealth.
One of the best self-confidence builders is committing to staying proactive with your finances and your life. Communicate with your accountant, banker, financial planner and anyone else involved with your money. Ask questions, read the latest materials and take action when it is necessary. Know the specifics of the “who, what, where, when, why and how” of your financial dealings. The goal is to be in control of your finances and not have your finances controlling you!
3. Be receptive to growth and change –
This is great advice for your personal, professional and financial life. It’s a fact of life, “stuff” happens and life is constantly evolving. Your personal, professional and financial life should be evolving right along with you.
As the life “stuff” is happening, make it a priority to keep your financial house in order.
Yearly, or as circumstances warrant, check your insurance plans, legal papers and savings and investment documents. Self-confidence comes with knowing that as life evolves and transforms, you’re still able to efficiently manage your financial future.
4. Know you’re worthy and deserving of wealth –
This one is probably more emotional than financial but if you aren’t giving yourself permission to create wealth, you’ll sabotage your financial success. Make the time to truly appreciate and understand your emotional relationship with money. You’ll only allow yourself to create, retain and enjoy wealth to the extent you believe you deserve to be wealthy.
5. Recognize and understand your money values –
Your money values were formed in childhood. If you’d like a clue as to what those values are, look at how your “growing up” family, friends and neighborhood talked about money. The values developed and nurtured during childhood are unconsciously still controlling your financial life today.
Self-confidence develops by understanding the financial values that are most important to your future wealth. As a rule of thumb, it’s best to invest, save and spend in ways that are most compatible with your core money values.
Wealth is as much about developing personal self-confidence as it is about developing your financial portfolio. I’ll say it again -- the more financially confident you become, the more money you’ll allow yourself to create, control and enjoy. The more competent you feel about your ability to manage money, the more money you’ll have to manage.
**I highly recommend Suze Orman's book Women and Money, Owning The Power To Control Your Destiny. I’ve included this link to Amazon.com Women and Money if you’re interested in the book and you’ll also find a downloadable audio version.
***You may want to take a few minutes to visit my website www.SharonMichaels.com for more empowering suggestions, tools and tips.