Here are a few pointers from a useful new book on personal finance.
I recently read a new novel, How to be a Financial Grownup: Proven Advice from High Achievers on How to Live Your Dreams And Enjoy Financial Freedom, composed by Reuters' private financial writer, Bobbi Rebell, also believed the book and various valuable lessons discussed within it may be of interest to my readers.
Unlike lots of private finance advice books that engages at a didactic voice and stick to a narrow range of topics, How to become a Financial Grownup presents advice and anecdotes from dozens of highly successful individuals on a number of subjects that affect financial health - not just on private finance itself.
Here are 6 interesting takeaways:
1. Learn from the successes of other colleagues.
Rebell relays stories from Tony Robbins, Jim Cramer, Kevin O'Leary, Drew Barrymore, and many others, each one of whom conquered adversity and forced tough choices on their route to great success. Some of their wisdom may apply to your situation - why reinvent the wheel if someone else could give you pointers?
Take ownership of your own life.
Rebell presents classic strategies such as automating tax-efficient investments - but additionally, it adds things like meditating and exercising - activities that often translate into the ability to concentrate better, which can ultimately help improve your odds of financial success. You need to take ownership of your own life in order to take possession of your financial life.
Consider social problems.
As Rebell points out, social issues can radically impact financial success - for example, we've got had friends who somehow cause us to spend a lot more income than we had planned, and improper social media use can endanger careers and individual relationships, adversely impacting financial wellbeing. Getting cognizant of these risks is critical.
Enjoy, and take, help
As Rebell points out being a"fiscal grownup" shouldn't include being a martyr; if relatives or friends offer to aid in ways that save you money, be thankful, and consider their offers seriously.
Secure your data
In the modern era, you cannot be financial mature and dismiss information safety. No matter how well you're handling your finances, even if offenders can hack into your account or readily steal your identity, then you're at risk of all kinds of fiscal challenges.
Know that you're not the first person to manage difficult situations
Rebell includes stories of individuals facing adultery, combating cancer, and enduring homelessness, afflicted by embarrassing scenarios, facing embarrassing public failures, and living through times of poverty - in reality, on their paths to victory, many of the contributors to the book underwent major challenges about that lots of people didn't understand; if life deals you a tough hand, remember that lots of wildly successful individuals had to overcome similar challenges - so don't give up or allow feelings of grief knock you off course toward fiscal adulthood.