When it comes to managing your money, there's a piece of the puzzle that some don't consider: If you're determined to improve your personal finances, you can start by boosting your level of confidence. You might be thinking one has nothing to do with the other, but low confidence can stand in the way of financial success.
Here's how boosting your confidence can also boost your pocketbook.
1. You're Not Afraid to Ask for What You Want
About 10 years ago, I had a friend who had recently graduated college and found his first "real job." He became frustrated with the pay after only six months and felt he deserved more because he finished college with a high GPA and had prior experience through internships. He told me that he was going to walk into his employer's office Monday morning and ask for a $15,000 a year raise -- "negotiable, of course" (which got the side-eye from me) -- but wouldn't take anything less than $10,000.
We looked at him like he was crazy. He was only 24 years old and fresh out of college. We told the dummy to slow his roll -- because that's what friends do. Let me rephrase that -- that's what negative, house-poor friends do.
He didn't listen to us, and that's a good thing, because he got exactly what he wanted -- a higher salary and a better position. I don't remember what he said to his boss, but I learned a valuable lesson that day: Don't be afraid to go after what you want, and don't listen to naysayers. If he had listened to us, who knows how long it would've taken him to move up in the company.
The point: Lack of confidence can cause you to doubt your abilities. And when there's doubt, you might miss opportunities that can result in a higher salary. A confident person, on the other hand, believes in himself. He's not afraid to ask for what he wants and deserves. From a financial standpoint, confidence gives you the strength to negotiate your salary and get paid your worth.
Just imagine what you could do with an increase in income. You could stop living paycheck-to-paycheck, open a retirement account, or finally put a dent in your credit card debt. And you'd also pick up the tab for your idiot, low-paid friends the next time you go out. That goes without saying, of course.
Read Full Article Here:http://www.dailyfinance.com/2015/09/23/ways-confidence-makes-you-better-with-money/
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