Take your emotions out of it. Be honest with yourself.

Last week, I had the pleasure of being on a panel for Suites Capital about dispelling myths about angel investing.

The other panelist and I shared common myths about angel investing and angel investors. Some of these myths include the following:

 

-It’s only for the super-wealthy

-It’s not a good investment

-There’s too much to learn

-What if it doesn’t go well?

 

The myths above are some reasons (ahem, excuses) keeping most people from angel investing or investing.

 

Dr. Adrian Furnham, author of “The Psychology of Money,” writes, “on some levels, we know our attitudes to money reveal a lot about us which we would rather keep private.”

 

Our attitudes, beliefs, and experiences with money from childhood and even adulthood significantly impact our ability to progress with our finances.

 

But what if we dealt with our feelings about money head-on?

 

What if we took the emotions out of it?

 

What if we had honest conversations about where we are? What if we had real conversations about where we are financially?

 

One of my favorite books is by former Navy Seal David Goggins. In “Can’t Hurt Me,” Goggins writes about his life and how he transformed from an overweight, unhappy 9 to 5 worker to a Navy Seal by being honest with himself.

 

If you’ve never read it, I highly recommend it. But be forewarned, Goggins’ message is not for the faint of heart.

 

One of the things Goggins teaches is that we need to have honest conversations before we can progress with anything.  

 

Listen to what Goggins says about having honest conversations below.

 

So what aren’t you being honest with yourself about?

 

Suppose you’re not good with money. Be honest about it and admit it.

 

If you have negative attitudes about money and wealth. Be honest about it.

 

If you think you will never get out of debt. Be honest and admit it.

 

Having honest conversations is the only way we make progress.

 

When we are honest with ourselves, we can take small actionable steps to change our situation.

 

asd