Financially Alert Mind versus Financial Literacy
Since the real estate and financial market downturns in 2007 and 2008 many financial advisors and money watchers have approached personal finance with a new attitude. Many more now see the need to educate consumers in an attempt to make them more financially literate. The goal for doing so is to help consumers avoid the mishaps that many consumers made during that volatile period that began in 2007 and continued for a number of years thereafter.
It is important that you realize that financial literacy is a good starting point but will not really take you to where you truly need to be if you are one who sincerely wants to manage your credit and finances in a more effective and efficient manner.
It is a good thing that more financial advisers and planners are now looking more at “behavioral finance” or the “psychological aspects” of financial moves that consumers make—because that behavior and thinking has a huge effect on how consumers manage their money.
As one of the few financial planners who have looked deeply into the behavior of consumers for a number of years I have long realized that what consumers lack is a comprehensive approach to managing their credit and finances that they can carry within their mind, easily understand—and apply at the various stages in their life.
Successful money management often comes down to having the right approach. We have found that many approaches in the financial industry are too complex or not readily understood by consumers in a clear and cohesive manner. We have long determined that Money Management Personalities can help or hinder consumers in the management of any system—and particularly those systems and approaches that are difficult to understand and apply in a practical manner.
It is important that those who are in the financial industry, especially if you are a financial adviser or financial planner—have a real understanding of the mental aspects of financial planning because successful financial planning consists of more than just understanding demographics and creating personal financial statements.
The real key in the current economy includes having a real understanding of the role that habits and personality types play with today’s consumers.
There can be a big difference between a highly informed money manager personality type and a struggling money manager personality type.
For financial advisors or financial planners, it is really important to know the differences among personality types, what their clients really value and other factors that once were ignored by planners—but should no longer be ignored due to the importance that the factors have on the long-term success of consumers. In short, you as a financial planner (or consumer if you are doing your own financial planning) must probe deeper and really determine the goals that your client values and you must do so with a spirit of excellence—to be the most effective.
It is true that financial literacy needs to begin in grade school and continue throughout high school and college, however spending more time educating consumers about fundamental financial tools such as balancing their checkbook, thinking about their own income statement, determining what percentage of their income goes to savings, spending, bills, charity, etcetera—in of itself is somewhat outdated.
Many consumers had that knowledge prior to the real estate and financial market downturns that occurred in 2007 and 2008—yet they failed to apply that knowledge and use their literacy skills in a manner that benefited them and their family the most.
Many fell prey to unwise decision making and financial outlays that did not serve their best interests due in large part to the urging of so called professionals (attorneys, realtors, loan officers etc.) and many ended up in an even deeper financial hole.
In the mortgage industry in particular—many consumers knew that they were purchasing too much house or obtaining the wrong loan but they were caught up into what everyone else was doing—in large part based on the suggestions of those who did not have their best interests in mind.
Financial literacy provides you the opportunity to pay more attention to the financial affairs in your life and not get caught up in the hysteria or excitement of the moment, however you should have a goal of attaining more than just financial literacy.
If you sincerely desire to take control of your finances your goal should be to obtain a “financially alert mind” as it will provide you not only the financial literacy that you need—but will provide you a new way to utilize the financial knowledge that you will gain to your and your family’s benefit for the rest of your life.
Those who have a “financially alert mind” cannot be easily taken advantage of because they have a system that they can carry within their mind that allows them to address their pressing financial concerns in a proactive and highly effective way.
Those who have a financially alert mind know how to invest in a manner that serves their best long-term interests and they cannot be led astray by scammers and others who do not have their best interest in mind.
Part of showing your love to your family and yourself is having a “Financially Alert Mind”—meaning you must know how to respond appropriately to all that happens in your financial life.
By being financially alert you will be of the mindset that you must act in a proactive manner as you move toward improving your credit and finances!
By having a “financially alert mind” you will make it a priority to gain the preparation and knowledge that is needed for success on the front end—not after you have encountered financial difficulty.
Why Having A Financially Alert Mind Is So Important?
A Financially Alert Mind allows you to do your own thinking, allows you to “take action” on your own initiative and empowers YOU with the ability to achieve the goals that serve your and your family’s best interest.
You won’t have to be forced or inspired by others to act—you will act on your own initiative to create the future that you desire!
By gaining the knowledge that you need to succeed you put yourself in position to take your credit and financial success higher so that you can achieve the goals that you and your family desire.
By making a real commitment to use your mind in a financially alert manner you can put yourself in position to achieve your and your family’s financial mission!
By opening your mind up to what is possible you put yourself in control of your credit and finances and your ability to secure—your future!
Obtaining a financially alert mind is about empowering you with the mental working knowledge that you need so that you can succeed!
Did you know that if you have the self-discipline, proper preparation, proper focus and the right knowledge that is necessary you can manage many or all of the credit and financial affairs in your life?
Always realize that if you can control your thought process and direct your actions the right way—you can control your future!
You can choose to “build up” your future or “tear down” your future by your daily thoughts and by the actions that you take on a consistent basis!
Did you know that a Financially Alert Mind Improves Lives Yearly?
By having a Financially Alert Mind you can put yourself and your family in position to reach many or all of the future goals that you desire and you can position yourself to attain the goals that can make a real difference in your and your family’s life!
You can now show your LOVE to your family and benefit your F A M I L Y and yourself by having a Financially Alert Mind—This Year!
As a result of landing on this page we believe that major success lies in your and your family’s future. You can now sincerely pursue a path that will help you attain a financially alert mind in an efficient and highly effective way.
By having a “financially alert mind” you will make it a priority to gain the preparation and knowledge that is needed for success on the front end—not after you have encountered financial difficulty.
A “financially alert mind” is organized and quick to see opportunity and at the same time realizes that there are no limitations on what it can accomplish because those who have a financially alert mind—don’t set any limitations within their own mind!
A financially alert mind is proactive and addresses credit and financial concerns on the front end.
A “financially alert mind” knows how to properly utilize personal financial statements, properly manage and improve their credit and properly address all areas of their finances that need to be addressed.
A financially alert mind does so in an effective and efficient manner and in a manner that benefits those who have a financially alert mind the most—not creditors and others who have no real concern for their or their family’s livelihood!
You must make it a priority to utilize your mind properly and to think for yourself if you sincerely desire success on a consistent basis!
A financially alert mind—allows you the opportunity to do just that!
Final Thoughts on Financially Alert Mind versus Financial Literacy
It is important that you realize that financial personalities affect financial planning—often in a significant way. Some personality types are financially independent, they are comfortable taking risks and they are confident that their income will last throughout their lives because they have planned in a strong manner, therefore financial concerns can be addressed efficiently.
Still others may need to be held by the hand and get to a level of understanding where they really see the need for comprehensive planning and how implementing a comprehensive plan can help them achieve their goal(s) more effectively and more efficiently.
As a consumer you must get your mind to a point where you can address all areas of your finances in a manner that puts you in control—and keeps you in control. You no longer have to accidentally improve your credit and finances. You no longer have to accidentally hurt your credit and finances!
You can now manage and improve your credit and finances in an intentional manner by obtaining a Financially Alert Mind and not just Financial Literacy—starting today and continuing throughout your lifetime!
About Thomas (TJ) Underwood:
Thomas (TJ) Underwood is the creator of TheWealthIncreaser.com and is a former fee-only financial planner, former top producing loan processor and is currently an active real estate broker at Realty 1 Strategic Advisors. He is also the first financial planner to coin the phrase “Financially Alert Mind” and he has been serving consumers in the area of personal finance for over 20 years!
Thomas (TJ) Underwood is a licensed real estate broker in the State of Georgia. He is also the broker/owner of Realty 1 Strategic Advisors, LLC which he founded in 2002. A pioneer in the real estate industry, his company is one of only a handful of real estate companies in existence that offer clients comprehensive financial planning as a part of the home buying and home selling process as a complimentary service.
You will usually find him assisting home buyers, home sellers and those who are trying to improve their financial position in the Atlanta Metropolitan area and throughout the world—improve their finances in an intelligent, consistent and proactive manner.
About This Article:
The above article was written by Thomas (TJ) Underwood on February 8, 2015. Thomas (TJ) Underwood is a licensed real estate broker in the state of Georgia and is the writer behind The Wealth Increaser, Home Buyer 411, Home Seller 411, The 3 Step Structured Approach to Managing Your Finances, Managing & Improving Your Credit & Finances for this MILLENNIUM and CREDIT & FINANCE IMPROVEMENT MADE EASY—NEW GUIDE.
He is the creator of TheWealthIncreaser.com where he regularly blogs about helping consumers improve their credit, finance and real estate pursuits in an intelligent, consistent and proactive manner. He’s always looking for ways to make intelligent finance improvement happen for those who “sincerely desire” success in their future.
You can contact him from a number of sources but the most direct way is to contact him through Realty 1 Strategic Advisors Website. You can continue to get highly relevant tips on “living your life more abundantly” by logging on to TheWealthIncreaser.com and signing up for the rss feed.
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