The Most Important Financial Seed
Understanding good money management is a lot like watching young children learn to play T-ball. Often times, until the kids learn the basics of the game their approach is a little haphazard and interesting to say the least. Having played the game several times you get a chuckle when you see the kids run to third base instead of first base, put their mitt on the wrong hand, or try to swing the bat with a helmet that’s too large for their head and overshadowing their eyes. Eventually they grow to understand the game, develop their catching and throwing abilities, and grow into their helmets, dramatically improving their ability to see and make contact with the ball. Well it’s no different with good money management skills. Until you learn the basics you find yourself a little haphazard and interesting in your own approach. Instead of building a cash reserve, you’ve made purchases that could have been put off. You’re paying interest on credit card debt instead of paying yourself and you’ve accumulated some financial habits that are a little big for your current income and make it hard to see where your financial future is going.
For many of us, our parents helped us get started in T-ball by signing us with a local team. Interestingly, many of us did not have this same benefit with regard to developing our money management skills. There were no local, organized teams to help you develop your financial skills. You didn’t have a financial coach teaching you why you need to save first, how to set realistic financial goals, to be disciplined with your budgeting, and the importance of getting back up after you financially strike out.
While we didn’t have those things in the past, today you have the opportunity to develop your financial skills through reading, seminars and workshops, and through various financial professionals. If you’re interested in learning to develop personal skills, gain financial education, and to manage your financial behaviors, then I believe you are in the right place.