Get Rid Of Your Financial Fears Once And For All

When it comes to money and financial security, fear is a limiting factor that can actually prevent you from realizing your full potential.

If you are building a solid financial base from scratch, you will always be aware at a subconscious level that you can lose it all.

Using this fear as a motivator can keep you alert and alive to opportunities that have the potential to sky-rocket your income.

In this article, we’ll go over three things you can do to overcome your financial fears.

1.  Find the time to work on your wealth strategy and be consistent

Investing in your financial education is one of the best things you can ever do for yourself.

Building your knowledge and skills can also save you money, increase your income and give you the financial security that could be proving to be elusive to you so far.

Once you decide on a wealth strategy, you need to start working towards executing it.

You can have all the information in the world but unless you take action on what you know, you won’t get very far.  Information overload can only lead to a confused mind.

Secondly, you will never have all the relevant information you need to make a decision presented to you in an accurate and timely manner. Take action on what you learn while it is still relevant.

2.  Determine the root cause of your financial fears

In finding the root cause of your financial fears, it is important to take a critical look at your financial background and what you learnt about money from an early age.

Associating money with unhappiness, anger or stress, can trigger unfounded fears at the thought of building sustainable wealth and therefore financial security.

Ascertain what exactly it is that you fear when it comes to money (or a lack of it).

Failing to look after your loved ones, being homeless, having to settle for a minimum wage job just to keep afloat or starving are some of the few things that may come to mind.

Take note that in most cases, some of these fears may be overrated.

3.  Learn how to take calculated risks

One of the surest ways to conquer your financial fears is to face them. Apply some form of analysis to determine the level of risk you will be able to accept in a set of given circumstances.

One way to do this is to envision the best case scenario and notice what it feels like, then ask yourself if it is worth the effort. Next, imagine the worst case and decide if you can you live with the outcome.

If you can live with the worst case scenario, and the risk is worth the effort, then by all means take the risk. This way, you will be mentally prepared for any outcome.

You will also have the added advantage of enjoying life as you go rather than permanently delaying gratification for fear of the unknown.

We are accustomed to stick to our old familiar ways and consequently, most of us end up being too lazy to change our financial circumstances for the better until the occurrence of an unexpected event that threatens our financial security.

The question you should be asking yourself is what you are doing to achieve your spiritual, financial, career or business goals especially when you need next week’s paycheck to clear this week’s bills.

This will help you put your financial fears in perspective.