Highlights of today's show:
- Do you have the power to control your finances or is it out of your control?
- There's a growing vocal minority that says that it's not in your control
- Why I believe in personal responsibility when it comes to finances
- There are things that are out of your control but you can control how you react to them
- The importance of interviewing multiple realtors
We continue where we left off last week in our discussion about behavior and personal finance by trying to answer the question: Do you have the power to control your finances? If you have listened to the podcast for very long, you know that I am a big believer in taking personal responsibility for your finances and controlling "YOUR" economy. However there is a growing belief on the personal finance blogs and in the media that is saying that there are growing structural problems with our economy including unemployment, inflation, sharp stock market changes, and growing income gap between the wealthy and the poor.
True, those things you can't control, but you can control how you react to them. The thing is financial emergencies happen to EVERYBODY. Now we don't know the when, where, and how much, but we do know they will happen. Everyone's situation is a little different. There are those of us who have had long bouts of unemployment or have had health issues that have held us back financially; that's why personal finance is personal. But the moment we say that our finances are out of our control is the moment we allow other entities to control our finances for us.
The reason why I'm speaking out against this is because whether or not you win with money is not about luck. It's about getting a new perspective on your money and doing things with money that allow you to do the things that you value.
In addition I also give an update on how my wife and I are interviewing different realtors in preparation for putting our condo on the market. We learned a good lesson this week on why it is important to interview more than one realtor no matter how good you think yours is already.
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You can find prior editions of the podcast at the podcast archive page.