April 2021 – Financial Resourcefulness

Knowledge is power. We’ve heard that truism countless times. The reality is that knowledge is potential power. If we don’t actually do anything with it, knowledge becomes an untapped resource.

Sometimes we may be stuck on our financial journey because we don’t know what to do. We feel paralyzed because we feel like we’ve tried everything and nothing has worked. However, let’s not give up on ourselves.

What are some resources you haven’t thought of that might help you on your financial journey? What are ways that you could turn your situation around?

Asking questions like this is a lot better because it provides real life solutions.

Let’s start thinking about the resources we have and get more resourceful reaching our financial goals.

1. Debt reduction strategies. If you have a lot of debt right now, let’s develop some options for getting you out of debt. Can you do a balance transfer to another credit card offering 0% APR? Can you refinance your student loans to get a lower interest rate? Can you recast your mortgage to lower your monthly payment?

2. Investing. You may want to get more aggressive with your investing. You might feel like you’re behind where you want to be. How do you increase your income? Can you start a side-hustle or become a virtual assistant to increase your savings? Can you increase your investing risk by putting money in riskier assets like Fundrise or Yieldstreet?

3. Relationships. Good relationships are very important in their own right, aside from any financial benefit. But they should not be overlooked as an ingredient to success. One of the paradoxes of financial success is that relationships and not money should come first. You might be thinking, “How can that be, Patrick? How is it that prioritizing my relationships is going to save me money? Relationships can be expensive!” That’s true, our relationships can be expensive in time, money, and energy. However, if you want long term success, you must make sure your relationships are healthy and strong. If you are married, the relationships in the family are obviously critical to the financial success of your family. But even if you are single, strong relationships with family and friends help open the door to opportunities that you wouldn’t otherwise have.

This Friday, April 9th, at 2:00 PM Eastern Time, I’ll be interviewing Mike Piper of the Oblivious Investor inside our private Facebook Group. Mike has years of experience helping individuals reach their financial goals, and he’ll be available to answer your questions. It would be great to have you join us, so send me an email or a message on Facebook if you are interested.

Also, if you want to take your financial certainty and success to the next level, I can help you directly when you join my membership program. We’ll develop an outstanding plan to prepare for your financial future.

Don’t forget to pick up copies of The Money MissionTax Saving Strategies and The Blended Retirement System.

Have a great week, and I’ll talk to you again soon!

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