Day 4 : What is in Your Safety Deposit Box?
You open the Calendar Box for today and find…
Your Safety Deposit Box is open. It contains what you put in it: Bonds, Stock Certificates, Wills, Birth Certificates, and other important Documents. Does anyone still have that in their box?
More Tales of Plumbing
I will continue with the story about my home plumbing adventures. We have reached an exciting impasse with our plumbing (the house not my plumbing). What does this have to do with fear as a tool?
A simple gasket repair has turned into a plumbing leak. This leak caused me to open a large hole in my front hallway ceiling. My wife and I now have a turned-off toilet at the water valve. We also have a hole in the ceiling. We have an innate fear of turning the water back on for the toilet.
Today's financial question is: Is fear a tool or an impediment?
How often have you not done something in your financial world because you feared the consequences? Did it turn out that because of this concern you:
- Didn't do something that you would have regretted later (and thus fear was a good thing)
- Didn't take advantage of something that you now regret (i.e. fear became an impediment and it stopped you from succeeding).
Everyone should understand their "risk thresholds" especially regarding Financial Issues. Know what causes a Flight reaction in your Financial World, and learn why.
My opinion is that fear is a good thing in life. It stops us from picking fights with UFC fighters. It also prevents us from running naked down the street. Fear that is not based in fact, is the problem. Fear is a useless tool if it hinders you from functioning normally. If it motivates you to do something, then it is useful.
Fear is useful, in life and in personal finance if it motivates us to do something about what we fear. Listen to fear, and use it as a tool.
Personal Finance Advent Calendar
- Advent it Begins Again!
- Day 1: Running Shoes
- Day 2: TFSA
- Day 3: A Safety Deposit Box
- Day 4: What is in your Safety Deposit Box?
- Day 5: Your Will in a box
- Day 6: A Credit Card Bill
- Day 7: A Pointing Finger (Points)
- Day 8: A Lamb
- Day 9: Your Child's Diploma
- Day 10: A Cane
- Day 11: A Home Inventory List
- Day 12: A Bank Passbook
- Day 13 (new) A Puzzle Piece or Day 13: A Pair of Tiny Shoes (budgeting)
- Day 14: A Stock Certificate for ACME Buggy Whips
- Day 15: A Kettle (Charity)
- Day 16: A Coffin
- Day 17: A Scroll of Household Fix Ups
- Day 18: A QR Code -or- Day 18: A Wii Fit
- Day 19: A Library Card
- Day 20: A House Plan
- Day 21: A Feather
- Day 22: DVD of the Shawshank Redemption
- Day 23: A Tuning Fork
- Day 24: A Happy Face
- Day 25: Merry Christmas
If a businessman fear no one then he will succeed in everything.
Fear is a great tool in earning money. Fear was the reason why others sell their products at lower prices, etc.