Author: Kentin Waits / Source: Wise Bread
When it comes to winning in the world of money, I’m a firm believer in the power of the liberal arts. Sometimes, a broad base of knowledge can serve you better than a narrow set of skills in mathematics, business, or investing. So buck up, theater majors and graduates of the School of Hard Knocks; here are eight non-finance skills that will make you a money master.
1. Self-awareness
Socrates was onto something when he said, “To know thyself is the beginning of wisdom.” Self awareness is the key to understanding the level of investment risk you’re comfortable with, the situations that trigger impulsive consumer behavior, and the strengths you can build upon to become more successful with money. Stretch your self-awareness muscle a little every day by being mindful of your emotional responses to advertising and noticing which parts of your budget are the easiest and most difficult to stick to.
2. Self-control
How do you become a money master while living in the middle of a three-ring consumer circus? You develop superhuman levels of self-control. Money masters resist impulse buys (at least most of the time), drive reliable used cars instead of new ones, shred stacks of preapproved credit card offers, and stick to their budgets despite everything that urges them to do otherwise. (See also: 6 Ways to Resist a Splurge)
3. Self-confidence
In the U.S., keeping up with the Joneses is practically a national pastime. Those in charge of their financial futures evolve beyond the constant comparisons that drain…
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