Having financial fears is a real thing, and for a lot of people, the reason they can’t seem to make any progress economically is that they are up against fears that come in all different forms and sizes.
Some people stress about their children being taken care of. Some people stay up at night worrying whether they will have enough money by the time they get to retirement to live comfortably. Although those fears are normal, the question is what are you going to do about them? Are you going to let them paralyze you to the point of not doing anything or are you going to let them motivate you to make some changes in your financial situation?
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There’s only one difference between a hero and a coward. They both have fear, but the difference lies in what they do with it. Cowards allow their fear to cause them to run away, while heroes face their fears head-on.
Acknowledge your fears – When it comes to financial fears, you’ve got to be the hero, and the first step you need to take is to face them. Acknowledge that they are there and that they’re real. Now, you also need to face your current financial situation. Take a good, honest look at your current financial picture. How much debt do you really have? Not an estimate, not a maybe, but an actual total – because this will help you to come up with a plan of attack. Fear is real, but it doesn’t have to keep you bound up and paralyzed.
Do something about your fear – In our case, we have set up college funds for the children. We’re trying to put certain things in place now so when our children are ready for college, they will be prepared as much as possible. If you’re worried that you won’t have enough money saved for retirement, then figure out how much you will need in order to get to that goal. Let it be the motivation you need to face the fear head-on. Do some calculations. There are several websites you can go to that will show you how much money you need to be putting into a retirement account in order to achieve your goals.
The point that we want to stress is, don’t be a coward. Face your financial fears head-on and do something about them because time doesn’t wait. Time is going to keep moving and then you’re going to look up and find yourself smack dab at that point, at that place you were so scared to hit. Since you didn’t do anything about it, now your fears will become realities. Don’t let this be the case for you. Act now!