I thought this was kind of an interesting point today. Essentially I heard some people debating about financial advice and the various sources they get it from. This ranged from financial planners to financial gurus from various sources such as TV or or the Internet. The thing that I thought was kind of funny was that a lot of people were saying when they look for advice it’s mainly about topics where you can get things for free as the main thing they are looking for.
When you think about that it’s essentially saying that a lot of people who need to fix their financial situation don’t want to put in the effort to try and learn new ways to manage their money as opposed to hoping they can find ways to magically erase it immediately while keeping their old habits. It made me wonder how you would flip a person’s way of thinking in that scenario as ultimately if you don’t change the way you think about your finances then even if you got a million dollars it will eventually be the same.
I guess that would be a funny proposition. Let’s pretend you were someone who was very bad with money and you were like a million dollars in debt. You were given the option to simply receive one million dollars or the knowledge and discipline to be able to pay it off in say one year. Which one would you take? I highly doubt most people wouldn’t simply take the million dollars.
Would you rather have someone teach you how to read yourself for example or having to rely on finding someone to read for you? Better to learn the skills yourself I think. Free stuff is always nice of course, but the knowledge you can learn from others is probably way more beneficial even when it comes to money.