Are you financially proactive or reactive? Find out below
What a year 2020 has been! I have learned a lot in these short six months! The uncertainty of these past few months has been enough to last me a lifetime. I cannot go back to the way I used to think or behave.
This had me thinking about how poorly I have handled my finances, put off a lot of self-development projects “for later” and did not put enough effort in other areas. I decided that I need to make a change for the better.
In this article I will focus on the concepts of being proactive versus reactive when it comes to our finances.
What does it mean to be proactive? It means creating or controlling a situation rather than just responding to it. How does this look like, financially? Being proactive might include things like building up an emergency fund, taking out credit insurance on all debt or creating an extra income stream.
What does it mean to be reactive? It’s the opposite. Acting in response to a situation instead of creating or controlling it. How does this look financially? Not saving for emergencies, getting into unnecessary debt or even postponing paying off debt. There are many more ways we can be reactive.
There is no way we could have predicted the economic downturn that the Corona virus has caused but if we were proactive in our approach financially then this pandemic could have been more of an inconvenience rather than a financial crisis for some of us.
Moving forward, I would like to challenge you (and myself, of course) to be financially proactive. We need to create the right environment for our financial goals to be achieved.
Don’t wait for the right time. This is what I have come to learn. There is no right time. The time is now. Use time to your advantage. Do not procrastinate anymore. Next time it might not be a worldwide epidemic, it could be a personal crisis.
Let’s turn our crises into inconveniences by being financially proactive.
What plans are you making to better your personal finance? Are you proactive or reactive in your finances?
Let’s chat!
Proverbs 21:5 The plans of the diligent lead to profit as surely as haste leads to poverty.
Please comment,like follow and share!
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
I am Lorato Keshebang. A full-time working mom, soon to be wife and a BCom Financial Management student. I am avid reader and writer of all things personal finances and self-development. I love sharing my knowledge and learning from others too.
