Money is so deeply emotional that it’s not unusual for us to be able to truly discern when we’re about to go off track. That’s what makes personal finance so personal. We can spot the mistakes of others, but our own missteps aren’t nearly as so easily identified (this is not a new phenomenon but an ancient one). Here are three signs that you’re about to make a horrible financial decision.
You begin a sentence with the words “This might sound stupid, but . . .”: This principle applies to finance but every other area of life, too. If you need to begin a sentence with the words “This might sound stupid” then you have your answer. It is stupid. You’re just trying to rationalize. Knock it off.
Someone much smarter than you arches their eyebrows when you reel out your theory. Can I be straight with you? You are not the best, the smartest, or the quickest at anything (neither am I). There is always someone more experienced or gifted than you are. If you can’t accept this, you’re probably walking into a serious trap in your life somewhere. But here’s the thing, people who know nothing or have zero experience are almost always quick to speak and slow to listen. Those who are knowledgeable will likely let your situation simmer a bit before they give you advice. However, they can’t help but reflecting uncomfortable body language when you ask for advice or give them your latest theory. So
- Be sure you admit that others are smarter than you.
- Seek out someone smarter than you.
- Watch their response like a hawk.
You think you’re the exception to the rule. Oh my sweet special snowflake, I love you with a force grater than the tides in the ocean. I do firmly believe you have been uniquely gifted in so many different ways. Your journey is unique and your circumstances are truly unique, too. However, if a plan has failed for many other people, think twice if you think you’re going to be the one to strike it rich or have a different outcome. Let’s not kid ourselves into thinking that our uniqueness has granted us some sort of super power that will help us beat the odds.
If any of the above makes a warning buzzer begin to ring in your ears, RUN don’t walk from the decision you’re about to make. It’s probably not the best bet for you.
Gain inspiration to pay off debt! Check out Inspiration to Pay Off Debt: 30 Days of Encouragement from the Queen of Free
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