The behavioural finance category lists personal finance tips that can help you understand money more deeply. And how your beliefs and values affect your behaviour toward money.

Own your financial situation

Look at the reality of your financial situation and assess it honestly. Stand in your truth. Don’t avoid your mess. Take ownership of it so you can change it.

Understand your money blueprint

Your money blueprint is the programming you received about money growing up. If you were lucky enough to grow up with supportive money beliefs, that’s great. However if you weren’t so lucky. You need to be aware of the detrimental money beliefs you’re holding on to. These can get in the way of your financial success.

Start supportive money habits

Implement supportive money habits that help you achieve your goals. Habits are what keep you going after motivation wears off. If you can implement supportive money habits, after that you can increase the likelihood of your financial success.

Understand how you feel about money

Analyse your attitudes toward money. Are you negative and do you think you’re destined to not have money? Do you think rich people are snobs? Unbelievably, these beliefs can affect how you behave with your own money and can affect your financial success.

Above all, behavioural finance can make or break you.

 

Until next time.

The MoneyShop Team

 

This article has been prepared for information purposes only and it does not constitute legal, financial, or medical advice. The publication, journalist, and companies or individuals providing commentary cannot be held liable in any way. Readers are advised to seek legal, financial, or medical advice where appropriate.