Five Keys to Unlock Your Financial Power
You have financial power
Everyone has financial power. Those who realize this know how to harness their power and use it for something great. Those who are unaware of their power end up misusing it to create excessive debt, bad credit, and a life of financial struggle. The following five keys can help you take control of your financial future and proceed toward prosperity.
Key 1: Resolve to make a change
Sure, many people daydream about having financial control over their lives, but without a dogged determination to change, they remain in debt. Instead, those who prosper are those who make a firm decision to do so. The first key to unlocking your financial power is to place your focus on making strong, positive changes in the right direction. Mark this date on the calendar, because it is the day that you are taking your first step towards prosperity.
Key 2: Let go of fear
Most people don’t want to stay in debt, but most people are afraid to take the steps necessary to get out of it. Some people have a genuine fear of handling money. Sure, they can spend it, but when it comes to actually balancing a checkbook, creating a budget or even speaking to bill collectors about debts owed, they prefer to bury their heads in the sand. This produces overwhelming feelings of financial inadequacy and does nothing but make a bad situation worse. The second key to unlocking your financial power is to face your fears head on. Whatever you personally avoid in handling your finances, make this the day that you simply stop and face reality with bold confidence.
Key 3: Build your confidence
It’s one thing to say you’re going to face your financial fears, but it’s another to find the confidence to do so. Financial confidence comes from financial education. Take a seminar on financial planning, read consumer-friendly books on personal finance, talk to friends and family members who have credit ratings and strong saving habits, and ask them for advice. Accept where you are, start right there, and take baby steps to educate and empower yourself for a better, more confident financial future.
Key 4: Face up to your credit report
If you’re determined to change and willing to face your fears, take the next step and order a credit report. People with bad credit often don’t want to face up to seeing their credit reports, but there’s no way to improve a disaster zone if you’re not even willing to look at it. Each year the three major credit bureaus allow every consumer one free credit report. If you don’t know your current FICO score or if you have no idea about what’s actually on your credit report, then it’s time to find out.
Key 5: Ask for help
Armed with concrete information about your financial situation and a new resolve to change, your final step to unlocking your financial power is to ask for help. Whether you need a personal loan or whether you need to consolidate debts, this is the time to seek help from professionals and people whose advice you trust. It can be tough to admit that you’re in over your head and need help, but it is better to speak now and reach for a helping hand than to continue to struggle with overwhelming debt. Financial counselors, credit counselors, and financial planners are easy to find in your local yellow pages or online. This may be a good time to shop around for one who can help you with your budgeting and financial concerns, so that you can begin your trek toward financial prosperity.
It’s never too late to improve your future
It’s never too late to make a change for the better. In unlocking your financial power, you will discover that you are fully capable of making the changes necessary to improve your future. If you’ve put this decision off for years, make today the day you stop making excuses. Commitment, persistence and confidence in who you know can be, will enable you to pull yourself up out of debt and live the life of your dreams.