You don’t need to be a financial wiz or have a degree in economics to manage your finances. Simple, non-finance skills are all you need to create a life free of money stress. Here are a few non-finance skills that will help you be as financially successful as your friend with a degree in economics.
“Setting goals is the first step in turning the invisible into the visible.” (Tony Robbins)
Every successful entrepreneur began with a vision. You are the entrepreneur of your own financial life. Before you can set a money management plan, you need to have a picture of where you want to go in life. This is not about daily goals, such as “get out of debt” or “get a better job,” although these are important goals. Visioning is about seeing the big picture…how you want your future self to be. Next, step back, and ask, “what it’s going to take to be that person?” Now you have the foundation upon which to build money goals and budgets.
A realist tends to be unappreciated. People will say that you are limiting yourself. But a healthy dose of realism is precisely the non-finance skill you need to help your finances. Without the ability to be realistic, you can easily set out financial goals that are unachievable, at least in the short-term. Early failures can cause you to lose hope.
Grit is the ability to stick with a goal, no matter what obstacles come along the way and the failures you experience. The concept was introduced by Dr. Angela Duckworth, who spent years searching for the one element that caused some to be successful and others to fail. Grit helps you persevere through those times when you fail to meet your debt reduction goal or binge spend on something that was not in your budget. It will carry you through the times when you experience financial disruptions in your life, such as loss of income or pandemics.
4. Consumer Consciousness
“No problem can be solved from the same level of consciousness that created it.” (Albert Einstein)
Having consumer consciousness means that you never shop on autopilot. Your purchases are not made spontaneously. You have a plan for every purchase. Your financial goals are a priority for you, which means that it’s worth the effort to shop around, compare prices, and look for the best deals. And when you go to the grocery store, you’re never hungry!
Organizational skills are key to success in every sphere of life. It’s the only way to tackle the problems that pop up at the most inconvenient times. When you’re organized, you know exactly where the document you need is filed. You don’t fall behind on your bills, get stuck with late fees, and ruin your credit simply because you’re disorganized.
“Instead of thinking outside the box, get rid of the box.” (Deepak Chopra)
Being creative empowers you to deal with money problems. If you’re living on a limited income, you’ll need to look beyond coupons and specials and think about how to extend the life of your groceries. Unleashing your creative juices will help you find ways to save more money or increase your income. Creativity can help you build a successful side hustle that captures an untapped market. It could be the first step toward becoming an entrepreneur.
This skill may be the most difficult to acquire, yet it’s key to everything. Self-control is a non-finance skill that will make you a financial whiz no matter your economic circumstances. Impulse shopping is so easy to do today, especially on the internet. With good self-control skills, you’ll be able to check out your friends on Instagram or Facebook but stay true to your budget. And when you see those pop-up ads, you’ll be able to click right over them.
If you are burdened with high amounts of credit card debt and are struggling to make your payments, or you’re just not seeing your balances go down, call Timberline Financial today for a free financial analysis.
Our team of highly skilled professionals will evaluate your current situation to see if you may qualify for one of our debt relief programs. You don’t have to struggle with high-interest credit card debt any longer.