Could it be you? You have read a lot about investing in tons of courses. You understand the value of stocks, bonds and diversification. You have some funds in your retirement account.

Still, even if you know better, you will continue to ignore or ignore your money. Why?

Blame it on traditional financial education…The point is to fill your head with facts, not to promote your courage to change.

If you have ever had a tool, raise your hand Improve self-efficacy, The most powerful predictor of financial well-being. (I don’t think so.)

Self-efficacy– Concept developed by Stanford psychologist Albert Bandera –is a person’s belief in the ability to succeed in a given task or goal.

If you don’t believe you can invest wisely without screwing up irreparable, you may not even try. Or, if you try, you’ll stop at the first stumbling block. Worse, you will make the wrong choices without knowing it to reaffirm your limited beliefs.

Enhanced Financial self-efficacy It is the secret seasoning for economic success. Know the difference between how to do and actually do this, having the ability and self-confidence.

I doubt you will show you how to shore Self-efficacy Most professional consultants. But thanks to Dr. Bandura for his research, This is 4 powerful technologies Do this:

1. Experience success– Choose a task that is challenging enough but certainly feasible. Have a conversation with your spouse about that money. Organize your financial documents. Balance your checkbook. As the saying goes, “Confidence is a memory of success. ”
2. Find role models– Accompany friends, family, and even the perfect stranger who is proficient in finance. Watching others successfully complete financial tasks not only provides inspiration, but also provides a template to follow.
3. Get encouraged– Be attentive with those who will cheer you on because they truly believe in you. Say “I know you can do it!” Stay away from opponents.
4. Manage emotions– If you are feeling frustrated, traumatized, or anxious, then working internally is crucial. Read self-help books. Find a coach. Join the support group. Talk to friends. All you need to relieve your pain, stress, worries, and fears.

What can you do today to increase your Financial self-efficacy? Leave me a message below.