Stop Delaying Your Financial Empowerment

by Andrew Downing

Financial empowerment means feeling like you are in control and on the path to financial wellness – and that requires education.

Financial education gives you the knowledge and confidence to make positive decisions and take the necessary steps to increase your income, pay off debt, and save for the future. In addition, it allows you to better handle life's unexpected events, take more risks, go on more adventures, and pursue bigger dreams.

However, even with these benefits, many of us still avoid learning about financial matters. We delay making a plan and putting it into action. Instead, we spend our time waiting for the right situation or for a more convenient time to start, but the waiting has to stop. You need to take control now and get your financial affairs in order. Nobody is going to do it for you.

One of our impeding beliefs is the fear that we won't know what we're doing, but understanding money is how you avoid making mistakes. And learning is easier than you think.

Stop waiting! Make a commitment to yourself. Start by making a list of financial subjects you don't understand. Then, one day at a time, one topic at a time, start learning. Read articles, look up videos on Youtube, or listen to podcasts. Financial information is widely available, so there's no reason to stay uninformed.

Often, we avoid taking these steps due to the perception that the intricacies of finances are difficult to understand, but that's a misconception. Trying to master too many topics simultaneously is overwhelming, but working on one subject at a time is easy. Just take a couple of minutes each day to watch a video or read an article, and don't move on to the next topic until you feel confident. Keep it simple.

Topics to learn about:

Budgeting, paying off credit cards, credit scores, mutual funds, retirement accounts, mortgages/buying a house, taxes, stocks, bonds, life insurance, making a will, diversifying investments, creating passive income.