I believe that the only way to better one’s self is to be true to thyself. No matter what the subject, if you are self aware you can compensate short comings or emphasize strengths. If we are talking sports, if you are aware of your weaknesses you can work on it/them (or avoid that position/sport), if we are talking about learning if you are aware of how you learn you can change the way you study, and lastly, if you understand how you save/spend you can be successful in the realm of personal finance.
What does this have to do with the picture? The Temple of Apollo at Delphi, dated well over 2,000 years ago has the following phrase carved in it, “????? ??????? ” Translation? KNOW THYSELF
CNBC’s Carmen Wong Ulrich (while I haven’t watched her show I am sure she is the standard tough guy/gal personal finance tv host, with no real knowledge spouting off easy to comprehend “advice”) has an interesting mini-quiz found in full HERE.
Three Types of Saves
She offers three types of “savers”:
- A dime couldn’t leave your home without a search mission. You’re in total control of your money and everyone could learn from you. Just try to loosen up once a month or so and spend a bit on something small you enjoy or save up for something bigger, like a vacation. Remember, we work hard to not only make money, but to live!
- You pay attention but maybe could pay a little more. Shop with more of a mind toward saving a few bucks here or there–you can finance your next vacation with all the money you can save between budgeting out shopping trips, searching for sales and nixing banking fees. Give yourself the motivation (a goal) and super-savings will be yours!
- You’re like a money faucet on full blast! Your hard-earned dollars are pouring out and through your fingers. Know why you’re unable to save and fix that leak. Is it that you’re too wrapped up in today and not enough in what-about-tomorrow? Think about what you want from your money (a future? security?) and then make it work for you. Sign up for automated saving withdrawals and pull together every receipt and credit card and banking statement for one month. Tally up every total and find out where your money is going–then, you can plug that leak and get out from underwater
My point? To achieve “personal finance nirvana” you have to identify who you are then you can work on the how. Â
My personal Situation?
I know I need to have automatic withdrawals, I know I can’t carry cash on me, I know that credit card reward points are NOT worth my failure to pay off a credit card in full (at least until my debt meter reads zero), I know I have a need to overanalyze, I know these faults…and by knowing myself is the only way to overcome…well, myself. Â
What are your faults? Express them here!Â