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Archive for December 3rd, 2008

Fear an Interesting Tool?

Wednesday, December 3rd, 2008

Continuing on with my story about my home plumbing adventures, we have reached an interesting impasse with our plumbing (the house not my plumbing).

To recap, a simple gasket repair has evolved into a plumbing leak, which caused me to open a large hole in my front hallway ceiling. My wife and I are now are at the point where we have a turned off toilet (at the water valve) a hole in the ceiling and an innate fear of turning the water back on (for the toilet).

Today’s Financial question is: Is Fear a tool, or an impediment?

How many times have you not done something in your financial world because you were afraid of the consequences? Did it turn out that because of this fear you:

  1. Didn’t do something that you would have regretted later (and thus fear was a good thing)
  2. Didn’t take advantage of something that you now regret (i.e. fear became an impediment and it stopped you from succeeding).
Everyone should understand their “fear thresholds” especially when it comes to Financial Issues. Know what causes a Fear reaction in your Financial World, and learn why.
My opinion is that Fear is actually a good thing in life, it stops us from picking fights with UFC fighters, or running naked down the street. Fear that is not based in fact, is the problem. Fear is a useless tool if it incapacitates you from functioning normally, if it motivates you to do something, then it is useful.
Fear is useful, in life and in personal finance, if it motivates to do something about what we fear. Listen to fear, use it as a tool.

Advent Financial Calendar Box Day 4

This is a trick day because yesterday’s box in a box, is actually today’s box (i.e. Safety Deposit box). What is in your Safety Deposit box (or home safe)? Don’t know? Let’s open the Safety Deposit box and look what is inside and make sure that:

  • Whatever is in the box is up to date
  • Everything you thought was in the box is there
  • You have a list at home of what is in the box currently (which is up to date), and you know where the key is for your box as well (also very important).
What is in your Safety Deposit box? Go to the bank, and write it down, so that you remember what is there, and put your key in a very safe place too.
Posted in Advent, Home Repair, Mistakes, Stock Market | 2 Comments » | Read more..
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