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How to Build Financial Confidence
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On this week’s episode of THE FINANCIAL COMMUTE, Wealth Advisor Priscilla Brehm joins host Chris Galeski to discuss ways to build financial confidence.
Here are some key takeaways from their conversation:
- Access to too much information does not necessarily lead to true knowledge or confidence, highlighting the importance of one’s mindset towards money.
- People often swing between scarcity and abundance mindsets. Wealth advisors can help clients move towards an abundance mindset to make confident financial decisions and make meaningful memories, instead of merely accumulating wealth.
- Creating a financial plan can help provide clarity on spending, income sources, and the rate of return needed for success.
- Educating oneself, creating a spending plan that allows enjoyment and security for both the present and future, understanding cash flow, and establishing an emergency fund are all crucial elements of financial confidence.
- Having a financial advisor or someone trustworthy to discuss these matters with can give one peace of mind and enhance their decision-making process.
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