E-3 Where Do YOU Stand With Money?
Welcome to Fintastic Females! I’m Kalyani, and I’m Rupali, your friendly finance experts on a journey to explore the world of money and energetics. In this episode, we’re focusing on you, our listener. We’ve prepared a quiz to help you reflect on your current financial situation and understand how the information we provide can be relevant to you.
The first question we ask is about your mindset regarding money. How do you feel about money? Do you have a scarcity mindset or an abundance mindset? It’s important to recognize that mindset plays a significant role in our financial well-being, regardless of our bank balance.
We also delve into the meaning of money and wealth for you personally. It’s not just about the numbers in your account, but also about how you perceive and interact with money. Do you have a sense of scarcity or abundance when it comes to money? How do you talk about money and make decisions regarding it?
Next, we explore your financial goals and aspirations. We encourage you to think about your short-term, mid-term, and long-term goals. What do you want to achieve financially? By understanding your goals, we can help you make informed decisions and investments aligned with your aspirations.
Another important aspect is your existing knowledge and investments. Are you aware of where your money is invested? Have you inherited any assets? Knowing your investment portfolio or lack thereof will guide us in providing relevant information and options.
We introduce the concept of real assets and financial assets. Real assets include tangible investments like real estate, precious metals, and luxury items. Financial assets, on the other hand, are intangible investments such as stocks, mutual funds, and retirement plans. Understanding these distinctions will help you evaluate your investment choices.
We also touch upon property investments and differentiate between personal use and income generation. Personal use properties are driven by emotional factors, while income-generating properties require a risk-reward analysis to ensure financial viability.
These are just the initial steps in our financial coaching journey together. By reflecting on these questions and understanding your mindset, goals, and investments, we can tailor our discussions to provide the most relevant information and support for you. Remember, our aim is to empower you on your financial path, whether it’s about savings, investments, or overall financial well-being. Let’s embark on this adventure together towards the mythical island of financial freedom!