As a healthy adult, do you wait for someone to spoon feed you when you are hungry? I bet your answer to the question will be no. So why then do you unduly rely on other people to take care of your personal finance? The standard reason given by many is that they lack the expertise of managing their finance.
These people giving this kind of flimsy excuse are often the type that do not know how to microwave an already cooked meal talk more of preparing the meal from scratch but they still know how to eat. This proves that you don’t have to be a finance expert before you can apply common sense in taking care of your finances and money.
Yes, you need professional advice when it comes to investing in a safe and high yield investment. But, do you need to be a finance professor before you can learn not to at least live within your means? In as much as personal finance is not all about frugality, being frugal is still the foundation upon which every other sophisticated financial management theories are built on.
Even multinationals that theoretically have access to unlimited funds still know when to live within their means. Any company that over-trades knows that they are inviting bankruptcy and insolvency.
Reasons why you are the best qualified person to take control of your finance
You are the one who knows better: you alone understand your desires and aspirations. You alone understand what being financially free means to you. A financial planner, though an important actor in your personal finance journey is only contributing as an outsider. He or she is advising you as a professional and will do everything possible to ensure that your financial objectives are achieved. Your financial adviser can only advise you on the best investment vehicle out there, but, they cannot force you not to take expensive vacation when you simply cannot afford it. There are plenty of cheap vacation companies that you can subscribe to and still get the best out of your holiday.
You alone will bear the blame for your financial failure: yeah, your friends and relatives might be by your side when you suffer financially. I remember working with a young man in his early twenties who despite the full morale support from his wife and other family members confided in me of how he sometimes feel like committing suicide for the financial mistakes he has made in the past. This drives home the point that no matter how you look at it, you will always feel left alone in the cold world of financial insecurity.
Your opinion about money is different: people always say that money is not everything. But, think about it, remove money and tell me what will ever flourish. This money might not be coming to you directly. But the fact still remains that money is a motivating element. People engage in charity work because they want to raise money for a good course. Your opinion about money management is unique and can only be nurtured by you so let no one steal your show when it comes to money management.
Maintaining a healthy finance is your sole responsibility. Take it!! A lot has been said about corporate governance, this is time for personal money governance, embrace it or keep struggling financially.
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