This week’s post is late because I attended two conferences as a presenter and for professional development. Below are take-away insights from FinCon 2018, a conference for personal finance content communicators:
¨ Every time you fail, you learn what not to do the next time so it is not really a true failure.
¨ Children are like “little recording devices;” they assume that what they see related to money is true.
¨ Fear is a big motivator of financial decisions: fear of missing out (FOMO) and fear of not belonging.
¨ Financial mindfulness involves putting a pause between a stimulus and a response (e.g., spending). For example, putting off a major purchase off for a day to think about it.
¨ When people are focused on a major problem (e.g., debt), they have less brainpower to make decisions.
¨ The FIRE (Financial Independence, Retire Early) movement encourages people achieve financial independence to live the life they want at a much younger age than 65. FIRE is an individual journey.
¨ No one will ever see, hear, or share your ideas if they never leave your head.
¨ Focus your efforts on improvement, not perfection. Do not use someone else’s measurement of success.