I am Dr.RandiBMD, your Board Certified Pediatrician and financial wellness expert. I provide your RX to wealth and financial well-being.
Many people feel insecure about finances. For example, according to a survey by Fidelity Investments, 80% of women hold back from talking about money with family and friends, yet 92% of women want to learn more about financial planning. Here are five steps that you can do right now to increase your confidence regarding money.
- Get your mind right– rid yourself of negative thinking and establish a more positive mindset regarding finances. Think about what you learned about money and if your beliefs are negative, change them. For example, if you were raised to believe that money is evil, and you still hold on to that belief, you will not have the right attitude regarding finances. Use daily affirmations or mediate; do whatever is necessary to acquire the right frame of mind regarding money matters.
- Set goals– goal setting is very important. You must have a plan. Your goals can be divided into two categories: short term vs long term. Short-term goals are goals you would like to accomplish within 2 years. Long-term goals are goals that are to be achieved over a much longer period. A short-term goal can be a goal to establish an emergency fund, or to pay off debt. A long-term goal can be to establish savings and investments for retirement.
- Read!!!As much as you can on anything financial! There are great resources on the internet and on bookshelves. Become familiar with financial term and concepts.
- Seek Help– Seek the assistance of a professional like a financial planner and an accountant to begin the financial planning process. Once you’ve armed yourself with basic financial knowledge you will become a collaborator with these professionals rather than a passive participant.
- Take small steps.Set up a budget, learn to calculate your net worth statement. Open a brokerage account and start investing and learn along the way.
Start with these 5 steps and you will be well on your way from financial insecurity to financial confidence.
I am Dr.RandiBMD, your Board Certified Pediatrician and your financial wellness expert. I provide your RX to wealth and financial well-being. Please follow me at DrRandibMD.com and @DrRandibMD on IG, FB and Twitter. And download my free video – LEARN FIVE CREATIVE STEPS TO INCREASE INCOME at www.rxtowealth.com