How To Build A Healthy Money Mindset For A Stable Financial Future
How To Build A Healthy Money Mindset For A Stable Financial Future Building and managing your wealth is a lifelong process that can have major implications for you, your children and other beneficiaries. While your path to building wealth should be tailored to your circumstances, this three-pronged approach from Freddie Mac can help you plan for a stable financial future. Understand your money mindset: Understanding your relationship with money can help you identify opportunities to create healthier spending and saving habits. A positive outlook toward money can provide you with a strong base on which to build wealth and achieve goals. Conversely, a negative outlook can make you reluctant to take the steps you need to establish a strong financial history. For example, being overly focused on displaying wealth can lead to overusing credit. Likewise, becoming preoccupied with financial success to the point of anxiety can prevent you from spending the wealth you do have on ite...