Continuing on with my story about my home plumbing adventures, we have reached an interesting impasse with our plumbing (the house not my plumbing). What does this have to do with fear as a tool ?
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: Fear as 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 concern you:
- Didn’t do something that you would have regretted later (and thus fear was a good thing)
- 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 “risk thresholds” especially when it comes to Financial Issues. Know what causes a Flight 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 incapacitate 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.
Day 4 : What is in Your Safety Deposit Box ?
You open the Calendar Box for today and find…
Your Safety Deposit Box open, with the things you put in it: Bonds, Stock Certificates, Wills, Birth Certificates and other important Documents.
Personal Finance Advent Calendar
- Day 1: Empty Box
- Day 2: TFSA
- Day 3: A Safety Deposit Box
- Day 4: What’s in your Safety Deposit Box?
- Day 5: Your Will in a box
- Day 6: A Credit Card Bill
- Day 7: A Pointing Finger (Points)
- Day 8: A Lamb
- Day 9: Your Child’s Diploma
- Day 10: A Cane
- Day 11: A Home Inventory List
- Day 12: A Bank Pasbook
- Day 13: A Pair of Tiny Shoes (budgeting)
- Day 14: A Stock Certificate for ACME Buggy Whips
- Day 15: A Kettle (Charity)
- Day 16: A Coffin
- Day 17: A Scroll of Household Fix Ups
- Day 18: A Wii Fit
- Day 19: A Library Card
- Day 20: A House Plan
- Day 21: A Feather
- Day 22: DVD of the Shawshank Redemption
- Day 23: A Tuning Fork
- Day 24: A Happy Face
- Day 25: A Box of Chocolate Loonies