7 Important Lessons I've Learnt About Finance
Description
In this episode of the Mind Money Soul podcast, I’m going to be sharing the 7 important lessons that I've learnt on my journey about finances.
One of the greatest lessons I've learnt is that it's important and necessary to take risks. People sometimes say "investing is risky”, but the irony is; saving your money instead of investing is risky and it has major downsides. A lot of us are taught from a young age that saving is the safest option and most of us bring this mindset into adulthood. But the reality is, inflation is eating into the buying power of your money and you are quite literally loosing your hard earned cash. Strategic, calculated risk-taking is not about being reckless; it's about making smart investments that can help you grow your wealth over time. By doing so, you’re not just preserving your money, you’re actively working to increase its value.
Money is an incredible tool that can enable you to live the life of your dreams. It’s not just about having enough to get by, it’s about using your financial resources to create the lifestyle you desire.Tune in to discover some of the biggest eye-openers I’ve encountered on my financial journey and how you can apply them to your own life to build wealth and become financially free.
In this episode:
- How to recognise why you shouldn't rely on others for money
- Why investing is the answer to building wealth, not saving
- How to understand the importance of taking strategic risks
- Why you can't budget your way out of a low income
- The quickest way to undo financial progress (avoid this)
- How to accept that your financial progress doesn't have a linear trajectory
🎙️ Your host: Laura Ann Moore
Thank you for listening to this week’s episode of Mind Money Soul. If you loved this episode, pay it forward by sharing it with a friend or tagging @laura_ann_moore on Instagram.
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