Financial stability and preparation are essential for handling life’s uncertainties. While spontaneity and risk-taking are appealing, wise financial preparation, such as setting aside emergency savings and making measured investments, provides long-term stability and peace of mind.
When it comes to managing money or investing, we all feel like our way is the right way because it works for us. We convince ourselves that the financial choices we have made are the ones that work best for us. There is no empirical way to prove the accuracy of such a belief. However, it is true that if you’re someone who runs into the same undesirable financial outcome in different stages of your life, it’s probably because you are making unsuitable financial decisions. Instead of acknowledging this, our defences usually go up and a standard approach is to say something like ‘money comes and money goes’ or ‘I know I can make it up soon’ and then carry on with the struggle.
