Lies, lies lies!

With all of the information thrown at us every day, especially about money, sometimes we might buy into lies that can set us back financially.

It goes beyond just bad investment advice, like trying to time the markets. These lies can make us think that spending more than we should is okay or convince us to save less.

But if you really want to be successful with your money and get the retirement you want, it’s important to avoid buying into this bad intel.

Here are just a few of my ‘favorites’:

Buying the latest and greatest will make you happy. This is simply not true – happiness comes from being satisfied with what you have and learning what brings real value to your life. Focus on spending money on experiences or things that can help you further your goals.

Debt doesn’t matter as long as you make the minimum payments. Making small payments will keep you in good standing with creditors, but paying the minimum means you’ll be stuck in debt for much longer (costing you in terms of stress) and spending far more interest than you need to (costing you money).

You don’t need to start saving and planning now – you have a long time until retirement! The sooner you start saving, the better your result will be in the end – you’ll benefit from compounded interest in savings, and your investments will have more time to show you the growth you desire. Another benefit: peace of mind will do wonders for your overall well-being. You can sleep better at night knowing you’ve got this.

So, how did you stack up? Have you bought into any of the lies I shared with you?

If so, don’t sweat it. There is still time to change and create better habits! Take a step back and consider the potential consequences and the possibilities of positive changes. It’s okay to start small, like saying no the next time your Amazon wishlist is screaming your name, making bigger payments on your credit card, or even, ahem, getting a financial advisor on your side to help you create a retirement plan.

You’ll be glad you did when ‘future you’ looks back on all that you achieved by making tiny-but-mighty financial decisions.

I’ve made it easy to start with a 15 minute conversation to see what working together would look like. You can book a call at a time that works for you by calling (330 836 7800 Ext. 1) (or clicking here to grab a spot in my calendar). https://go.oncehub.com/LeeHyder