Taking Care of Finances with Chris Hogan
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In these uncertain times, people need to be in control of their money more than ever before. I recently interviewed radio host, bestselling author and personal finance expert Chris Hogan to learn how he helps people manage their finances in the current environment. Here are some of the key takeaways:
Control What You Can
A lot is out of our control right now and, if we’re not careful, we can end up struggling to control things that we can’t. This leads to even more frustration and anxiety. In these times of difficulty, you must concentrate on the four things that you can control.
Your faith: Challenging circumstances often result in spiritual awakenings. This might be the perfect time to lean into, or explore your faith.
Your attitude: As Zig Ziglar said, “Your attitude, not your aptitude, will control your altitude.” Now, more than ever, it’s vital to avoid stinking thinking.
Your outlook: Expect good things – they can come from even the worst of situations.
Your actions: You are in charge of your actions and you control what you do; now and into the future.
Protect and Conserve
In dark times, you must protect your mind and your emotions. Be a guardian around those things, avoid the unnecessary and don’t confuse what you want with what you need. We do not know how long this situation will last, so it’s also vital to conserve your resources, energy and talent so that you are equipped for the long haul.
Learn From This
Even in the darkest of situations, we can use pain to make progress. By going through this, you can grow and learn. You can also move forward to build a financial fortress that will withstand any storm in the future. Get plans in place for reducing your debt, controlling your spending and securing your savings and investments. Information without application is just information; but information that gets applied has an opportunity to become wisdom. Now is the time to regroup, rethink and be smart.
Be Grateful
Life is not easy but, in difficult circumstances, it’s more important than ever to have a spirit of gratitude. Instead of focusing on what we don’t have, let’s focus on what we do. Remember, it’s hard to be hateful when you’re grateful.
We’ve all been through battles before and, although we might have scars, we’re still standing. Stay focused on what you want – you’re not finished yet!
Listen to the latest episode of “It’s a Good Life” to hear more about how to save money and pay down debt, why the stock market is set to rebound and how to get prepared for when the economy starts to recover.
