May 2023: Money-Making Ability in Unprecedented Times

By Jeannie Dougherty, certified money coach and mental fitness guide

I see a lot of FOMO about how to make more money, whether it’s stocks, bonds, real estate, cannabis investing, or crypto. Sometimes this inspires folks to think they can make a career change because they will have another source of income that will get them to retirement.

Most people think they know what their risk tolerance is and most DO NOT understand their ability to take a financial risk. Even when their financial advisor is trying to assist them with making an educated decision. Why?

To put it simply, they have money brain weasels in their brain that are wild and will only focus on the high risk, short-term gains, and the FOMO.

Their money brain weasels also only focus on the lack of money, and they NEED to have more funds. These weasels will even have my clients up at night when they have money in the bank and a good portfolio.

These thoughts cause serious problems when folks are facing unprecedented times and they unsure how to manage their cash flow. If you are behind or striving to get ahead can you relax and know you can adjust your spending?

Most people try and think that it’s just their math skills that are the problem.

No money is emotional, and your emotions drive your spending. Your personal spending plan is a direct reflection of your values.

As a certified money coach who taught retirement readiness to federal employees for four years, I see folks build up their assets only to see their money brain weasel eat it away, which consumes their health. I also see folks that are absolutely terrified to spend money on their homes, their cars, and themselves. This also causes great difficulties in families when money needs to be spent in order to have a safe, healthy, and happy life.

 These financial problems require money coaching to get to the bottom of which money brain weasel is in control of their money.

Better questions to focus on about your financial plan:

  • What is the safest way for me to address my personal spending plan and still retire when I want to?
  • How can I adapt to fluctuations in the market?
  • How can I learn to keep more of my money instead of being overwhelmed and angry at inflation?

Free: Click here to take Jeannie’s money-type quiz to learn more about your money-making abilities and your money brain weasels.

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