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How To Overcome Financial Fear In Your Life & Business



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What do you fear most? Is it that you’ll never get the job of your dreams? Or that you will never get the woman/man that you have a crush on? There are many types of fears and one of the types of fear we will conquer today is financial fear.

Financial fear is pretty much the fear of taking risks in your life that can have a positive impact on your financial life. This holds true for employees as well as business owners. Your financial fear can be holding you back from making more money.

Let’s dig deeper into what financial fear is and how you can overcome it.

Fear Is A Motivator

Anyway, fear is an emotion that can often motivate us to action, sometimes positive and sometimes negative. It can also leave us paralyzed in the moment, which is rarely ever good. Fear is a motivator. But we shouldn’t let it be a negative motivator, especially when it comes to our finances.

For me, financial fear rears its ugly head in several ways. For example, as I work toward financial independence, fear of things like significant periods of inflation and economic stagnation and the resulting potential losses to my investments is concerning.

Fear can also keep you from participating in investment opportunities or cause you to become irrationally invested.

Fear Can Keep You On The Sidelines

One of my biggest regrets is that I didn’t invest my money for a few years thinking a stock market crash was coming, maybe you can relate. I lived through two recessions, 2000 and 2008, which caused the stock market to plunge which put a thought in my head that another one is coming soon.

Instead of investing my money, I let fear irrationally keep me from investing in some of the best deals in a generation. If I had practiced what I preach now, doubled-down and invested heavily in that market, and dollar cost averaged my way in on the way up, I could probably already be pretty close to achieving financial independence.

Don’t let fear keep you on the sidelines.

Fear Can Tempt You to Deviate From Your Plans

Fear can also cause you to invest apart from your investment plan. When the market is way down, you might be inclined to sell, rather than to buy. Depending on your time horizon for retirement, this might make sense.

But if you’re decades away from retirement and dollar cost averaging your way to financial freedom, a falling stock market can be a great buying opportunity. Alternatively, fear of missing out (FOMO) can cause you to over-invest in appreciating market.

Long periods of run-ups in investment prices (stocks, bonds, mutual funds, real estate, you name it) can result in a type of irrational optimism called “market euphoria” where people begin to think that the market can only go up.

This results in a lack of perception of the potential risk(s) of an investment and an over-investment in the asset relative to a person’s financial goals. Don’t let fear of missing out cause you to invest apart from your investment plan.

“The greatest cause of human financial struggle is the fear of losing money.” – Robert Kiyosaki

Fear & Entrepreneurship

Another financial area I’ve seen fear play out in my own life is in the area of business ownership. It can be pretty discouraging when thinking about starting your own business to realize that around 19 out of 20 businesses fail in 10 years.

I think we need to temper the type of fear that might accompany that hard reality with both courageous and cautious optimism. Of course, we are to consider risks and count the cost before investing money and time in a business.

But, if you have an idea that could significantly improve the lives of others and maybe even your life, maybe it’s worth pursuing or at least scoping out.

Combat Fear by Mitigating Risk

Almost any action we can take has risks. When you get in your car every day, for example, there’s a risk you won’t return home. But that doesn’t keep most of us from driving. Why do you think that is?

When we take appropriate steps to mitigate risks, fear generally becomes less of a factor. For example, if I’m driving the speed limit in a mechanically sound vehicle with airbags and safety restraints in use, I feel relatively confident out there on the road.

Mitigate Investment Risks Through Diversification & Dollar Cost Averaging

So, what steps can you take to mitigate investment risks? In the investment world, there are a number of ways to mitigate the types of risks that might cause us fear. Portfolio diversification is an excellent way to reduce risk and the associated fear. Dollar-cost averaging is another great way to mitigate risks.

If a person receives a windfall of money, approximately two times out of three historically, it has been better to go ahead and invest the lump sum of the money as soon as possible. By picking some time horizon to enter the market, you’ll be buying more of the assets when prices decline and less when prices rise.

But you won’t be putting all of your money in at the highest highs (or the lowest lows).

Mitigating Business Risks With Sound Planning & Scaling

If your financial fears are related to business, like some of mine are, there are ways to mitigate those risks, too. One easy way to mitigate business risk is to develop a sound business plan.

If you can provide proof of concept that your business should be profitable, you will have both some peace of mind and a road map to potential success. Experienced business owners and organizations that support business and entrepreneurship will often help you develop and refine these plans to help you succeed.

Another practical way to mitigate business risk is to start small and scale the business up over time. That’s not feasible for every business, but it’s often possible.

The smaller your initial investment and the less of the rest of your life you give up out of the gate, the lower the stakes. The lower the stakes, the lower the risk and the resulting fear. You’d also do well to take that approach with a grain of salt, though. Low stakes often mean quitting when the going gets tough.

Fear As A Positive Motivator

Remember, fear can also be a positive motivator. For example, if you didn’t fear a large wild animal, you might not know to keep your distance. How you respond to the emotion of fear often has a whole lot more to do with the outcome than the stimulus that caused the fear itself.

For me, “keeping the wolves away” motivates me to keep working to pay the bills. Instead of fearing next month’s expenses, I use the reality that they will come as a positive motivator to keep working toward financial freedom.

Don’t let fear keep you from pursuing and achieving your financial goals. Recognize financial fear, understand it, and take practical steps to mitigate risks and overcome irrational fears.

What are some of your financial fears? What do you do to mitigate the underlying risks that accompany those fears?

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Change Your Mindset

5 Ways To Achieve Your Goals (With Examples)



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Setting goals is a crucial first step, whether you’re striving to reach personal or professional milestones. However, achieving those goals requires planning, determination, and focus. In this post, we’ll discuss five actionable strategies that can help you achieve your goals in 2023, and we’ll provide real-life examples to inspire and motivate you. By implementing these tips, you can train your brain to achieve your goals and make meaningful progress toward your aspirations.

1. Write Down Your Goals

The first thing needed to achieve a goal is to have one. A goal becomes very clear and precise once you have written it down most simply and easily to remember.

Here are some examples:

  • I am the world’s best dancer!
  • I am the greatest athlete!
  • I have created the world’s most innovative tech company!

They are all written with the belief that these things have already happened. Once you start believing it has already happened, other people too can sense your confidence and things start happening.

“If you want to be happy, set a goal that commands your thoughts, liberates your energy and inspires your hopes.” — Andrew Carnegie

2. The One Page Plan

A simple one-page plan to accompany your goal is much more powerful than a detailed 30-page plan. After you have written your clear goal – write down all the things you will have to do to achieve it. Make it as simple and direct as possible so that you can refer to it every day and take action. A simple plan is easier to follow and keep up with.

3. Get The Right Skills

Once you have a clear goal that has been inked into your mind, and a clear plan in place, it is very important to invest in the skills you need to achieve your goal.

So for example, if you want to become a movie star, you should immediately start developing your acting skills. Observe how other actors perform, join an acting class, read about acting, and most importantly, start honing your craft by joining a local theatre group and going for as many auditions as you can. Practice is very important for mastering any skill.

Struggling To Achieve Your Goals? Here Are 9 Possible Reasons Why! 

4. Surround Yourself With The Best People

The best way to achieve our goals is to make sure we have the best people supporting us. People who succeed are always those who understand the power of people.

So let’s say your goal is to be an entrepreneur and you have developed your entrepreneurial skills, the next step would be to get the best people to join your team to help you achieve your goal. These would be people who you consider to be the best marketers capable of getting you the best customers and investors.

Once you have the best people supporting you, it becomes much easier and faster to achieve your goals.

“It takes tremendous discipline to control the influence, the power you have over other people’s lives.” – Clint Eastwood

5. Power of Faith

Nothing beats the power of faith and belief. Sometimes you might face challenges, sometimes things might not be going your way, and you might feel like giving up – these are the times when faith and belief will keep you going.

So many people give up, just a few inches away from victory. I am sure you are not one of them since you are investing time into self-development which gives the highest returns! Now go out there and start achieving your goals!

Need more motivation? Read our blogs on motivation and become your best self now!

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Change Your Mindset

This Concept Will Make You Happier and More Productive

While humans can’t expect to describe themselves as “always” happy, we sure as heck shouldn’t settle for “never” happy or even “seldom” happy



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It’s always tempting to answer one more email before bed or to reply to one more text from a friend during work. Nonetheless, numerous studies have shown that multitasking, which is actually just constant task-switching, is exhausting. As the American Psychological Association states in an article about multitasking: “Psychologists who study what happens to cognition (mental processes) when people try to perform more than one task at a time have found that the mind and brain were not designed for heavy-duty multitasking.” (more…)

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Change Your Mindset

Debunking 21 of the Most Common Leadership Myths

It has been proved beyond doubt that leaders are made rather than born



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Do you think leaders should be tall and handsome?  Do you opine leaders must know everything? Do you think leaders must have a magic wand? Do you think women cannot make good leaders? Do you think leaders should be intelligent with a strong academic background? (more…)

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Change Your Mindset

There’s Only One Thing You Need for Success

The willingness to ask and live and love and overcome and learn and grow and so many other things all stem from one thing. 



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I know, the catchy title has you rolling your eyes and saying to yourself obviously there’s not only one thing that leads to success, but hear me out. (more…)

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