Getting out of your comfort zone
March 05, 2014
What's comfortable when it comes to your money? Ignoring it? Wishing you had a different financial situation? Wishing or hoping your life will be different is generally not going to change anything. You need to get out of your comfort zone and get a plan.
My life dramaticaly changed 3 1/2 years ago personally and I was instructed to write down 5 things I would do different each day. This was the push I needed to get me out of my comfort zone. After a few weeks I rewrote my bucket list and eventually renamed it my "Live it List" for I'm not dying and instead plan on living my life to the fullest. The term "Bucket List" to me was a negative, things I wanted to do before I die so instead I renamed it to something a bit more powerful and uplifting.
So how do you get out of your comfort zone when it comes to your money?
- Learn one thing about money everyday. It could be the definition of a financial term, maybe how your company 401(k) works or maybe learn what a Structured CD is. Just take a few minutes every day to learn something new regarding money.
- Get a Financial Advisor that you trust. Many Financial Advisors including myself offer a free initial consultation. You want to make sure you like this Financial Advisor and make sure that they are a good fit for you and that you trust them with your money.
- Buy an individual stock. A stock is a share or ownership in a company. It is recommended that the value of this individual stock be no more than 5--10% of your portfolio though.
- Write down where you want to be in one year financially. What are your goals? Do you want to pay off a debt? Save for retirement? Save for college? Make sure that this goal is attainable.