What have you been telling yourself? What lies do you currently believe? How have they affected your financial choices and behaviors?
Are you interested in making changes? Remember it’s never too late to make changes.
Here are some of the lies I hear:
- There is no extra money to save for retirement.
- I’ll start to save tomorrow when I earn more money.
- I deserve this now, even if I can’t afford it.
- I bought this at a good price / discount.
- I am young and don’t need insurance.
- I got approved for a new account, so my credit can’t be bad.
- I can spend now because I will have social security for retirement.
- I’m not planning on buying a home, so it doesn’t matter what my credit score is.
Do these money lies sound familiar? There all lies that will affect your financial future, but it’s not to late to make changes.
You may be saying, there isn’t extra money to save. You must make savings a goal and pay yourself first. Taking any amount to save regularly is the start. Set up automatic transfers on payday to begin the automated pay yourself first process and you will see your savings build up over time.
I am at a point in my life where I am getting rid of items and living with less. How much money did I spend on these items that I thought I needed only to find them sitting unused on a shelf? How much clutter do you have?
Insurance is important to have. If you have a health issue, it may not be too late to get health insurance. We had a family member who didn’t have insurance and was diagnosed with cancer. When he needed insurance the most, he didn’t have it, nor was he able to pay the premium because he couldn’t work.
Social Security wasn’t intended to be your sole source of income. It was designed as a supplement to your pension/ other income. Look at your social security account and see what your projected amount is. Can you live off that?
Credit effects so much of your financial life. Do you own a car? Maybe you want to change jobs. Do you want to rent an apartment? All this depends on your credit report and score.
Beliefs can be changed to achieve what you want with your finances. It just takes a little effort and some change to get going. What can you tell yourself to change your beliefs for the better?