With finances being one of the most common sources of stress, anxiety-induced habits of negative self-talk and pessimistic thinking can affect how you deal with your money situation. As common as budgeting problems are, how you approach your personal finances can have a powerful effect on your money money management. From second-guessing your expenses to internalizing shame about spending money, these are the signs of negative self-talk and how you can improve your financial skills.
1. Identify what negative self-talk is to you
For some, it's a sense of creeping doubt that you don't have as strong a handle on your finances as you think. For others, it's pressure to live a lifestyle that isn't realistically feasible for you yet. In whatever form it takes, having an inner voice in your head that denigrates your own money instincts and abilities to learn better habits is a serious deterrent to your financial growth. Even if you were raised by a guardian who instilled in you anxieties over money, assess your own situation and your own habits realistically. Acknowledging your natural strengths is just as important as acknowledging your limitations.
2. Know your triggers
Psychology Today emphasizes the importance of triggers of self-criticism, writing, "The critic is a voice that you have internalized based on outside influences and learning such as other people's criticism, expectations, or standards." Maybe you're more prone to question your financial skills around bills' due dates or in certain environments, like work or the bank. Keeping track of your negative thinking by jotting down notes in your phone or in a journal can identify the patterns that trigger the habit, which is the first step to changing your environment and controlling your responses to certain situations.
3. Talk about money
Speaking about your finances may feel Iike a social faux pas, but when it comes to your partner, close friends, or family members, you should be willing to open up and break the taboo. But as The New York Time details, "It's hard to learn about something when you're discouraged from talking about it. In that way, silence becomes a tool for oppression." Embarrassment and insecurity are common feelings everyone shares about money; discussing them in the open is more likely to relieve those fears than actualize them.
4. Think positively (and create a budget!)After you've identified your patterns of negative thinking and you're willing to open up about your insecurities about money management, the final and most important step is to make positive change. Staying educated about the economy can help you stay affirmative about what you've achieved, which boosts your confidence when you sit down to plan for your realistic goals. Experts spoke to The New York Times about using budgeting apps to track and plan your spending. Looking to the future with a firm grasp on your bad habits and room to grow is the best anyone can hope for. As author and financial expert Kristin Wong says, "Even the 'experts' slip up every now and then, because to be bad with money is to be human. So don't be too hard on yourself."
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Airbnb offers an affordable option for people looking to be more comfortable as they travel.
However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.
And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.
The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.
Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.
Stick To a Specific Strategy or Niche
Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.
First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.
Be Vigilant About Viable Financing Options
While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.
Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.
Master the Art of Finding Good Deals
There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.