Courage Builds Confidence, and Confidence Builds Wealth
Making progress toward a goal requires both change and courage. Think of the last time you tried something; you likely knew the results would outweigh your fears or discomfort and went for it. Courage is our ability to take action in the face of fear, and it’s the critical ingredient needed to move toward our most ambitious goals.
As a financial advisor, I often work with women who have been successful in their careers yet may not have had the training, time, education, or access to options that would best serve them financially. Taking the first step to reach out and ask for help is often a big turning point for them. Then, through conversations with trusted advisors, they gain the knowledge and experience talking about finances that positively shift their relationship with money: and help them better prepare for their financial future.
Unfortunately, this isn’t the case for everyone. Many wait until the fear of not being prepared for retirement becomes bigger than facing the facts, creating a more complex situation. Rather than avoiding the conversation or being ruled by fear, choose to be courageous and take the first steps to your financial freedom:
Assess Your Current Position
It takes courage to look at where you are on your financial journey. You might not have saved as much as you had hoped, or you may be in a better position than you think, but you’ll never know until you look at the numbers. As you begin this process, it’s essential to identify the money habits or fears that may be holding you back. To help uncover them, consider having a conversation with a loved one and ask them to keep your secret safe and listen without judgment. Their ability to ask questions can help you reveal fears you may not be conscious of, and you may be surprised to find she’s likely faced the same concerns herself.
Now it’s time to look under the hood of your finances. First, gather your recent statements and check the balances on your accounts to get a picture of where you are. You’ll likely notice your fear shrinking as you walk toward it, helping your confidence grow.
Uncover Your Limiting Beliefs
Once you understand your current position, you can address what’s holding you back. You’ll want to consider challenges that have plagued you in the past, as they may continue to limit your success if not addressed. I recommend a specific exercise to help you uncover the limiting beliefs around money that may be hidden from sight.
Twenty years ago, early in my second career, I made only $2,000 in commission and had no idea how capable I was. It wasn’t until I reviewed an exercise in Barbara Stanley’s book Overcoming Underearning that I discovered my own limiting beliefs and started changing them.?
In Stanley’s exercise, you think about how you will feel at different income levels: how will it feel to hit the $5k commission mark? How will it feel to make $10k, 50k, 100k, 250K? What fears come up around your ability to make that much money, and what excites you? Many of my friends stopped the exercise at $100k, as they felt pretty comfortable there. Yet I continued up to the $500k level. I was surprised by how far I had gone and even more inspired that there was still room to keep going! This exercise aims to access and expand your perceived limits, giving you the mental space to grow into the person you want to become. Who could guess someone who made $2,000 would see herself making 250 times more?
Let Go of The Past
Too many women spend their days living in the past, replaying their conversations and decisions and wondering what might have been or what they would do differently now. But, of course, we can’t go back, and the moments we regret are what helped shape us into the women we are today. So leverage your hard-earned wisdom to make better decisions in the future.
A friend who recently passed left these wise words, "Don't let the past stop you from moving forward."
Develop A Plan That Supports The Future You Want To Build
Once you’ve expanded your mindset to believe a higher level of financial success is possible for you, it’s time to create a strategic plan to make it happen.?
领英推荐
While your plan will be uniquely yours, ensure you start with these basic elements:
If this feels too daunting, reach out to an expert for help. They can help walk you through the process and ensure you take steps to create a plan that works best for you.
Courageously Follow The Plan When The Going Gets Tough
Life happens, and you’ll likely run into difficulties, setbacks, and emergencies as you move toward your financial future. Rather than getting overwhelmed by the situation, prepare in advance by planning for life’s interruptions such as illness or losing a job. A prepared woman will ensure she has an emergency plan to remain clear-headed with the power to see her plan through when crises arise, choosing courage over fear. When life gets tough, she gets tougher!
Leverage Your Wealth For What’s Most Important to You
Being courageous builds confidence, and that confidence builds wealth, yet you can decide what wealth means to you and how you want to leverage it. Life isn’t a board game where those with the most in their account at the end win, but a journey we experience with the ones we love. Each of us has the power to make decisions that create the life we want, and money is a powerful tool that can enrich our experiences and relationships. So whether you value your time, joy, health, or relationships most, you can translate financial wealth into wealth in any area of life by prioritizing how you earn, save and spend your money.
If you’re ready to build your confidence and wealth, download my Money Confidence Guide to organize your thoughts and begin your journey. Feel free to get in touch with me and let me know how it goes!
For more insights on how to grow your network and your business, visit www.askalicetang.com/blog/.
I am Alice Tang, ChFC?, Financial Advisor, Speaker, and Educator. My signature trainings:
Tel: (503) 654-7676 | Fax: (503) 653-7575 | www.bpgnetwork.com | 10151 SE Sunnyside Rd, Suite 460, Clackamas OR 97015. Securities and advisory services offered through Royal Alliance Associates, Inc. (RAA), member FINRA/SIPC. RAA is separately owned and other entities and/ or marketing names, products or services referenced here are independent of RAA.