Saturday, September 29, 2018

FinCon Conference Highlights

This week’s post is late because I attended two conferences as a presenter and for professional development. Below are take-away insights from FinCon 2018, a conference for personal finance content communicators:

¨     Every time you fail, you learn what not to do the next time so it is not really a true failure.


¨     Children are like “little recording devices;” they assume that what they see related to money is true.


¨     Fear is a big motivator of financial decisions: fear of missing out (FOMO) and fear of not belonging.


¨     Financial mindfulness involves putting a pause between a stimulus and a response (e.g., spending). For example, putting off a major purchase off for a day to think about it.


¨     When people are focused on a major problem (e.g., debt), they have less brainpower to make decisions.


¨     The FIRE (Financial Independence, Retire Early) movement encourages people achieve financial independence to live the life they want at a much younger age than 65. FIRE is an individual journey.


¨     No one will ever see, hear, or share your ideas if they never leave your head.


¨     Focus your efforts on improvement, not perfection. Do not use someone else’s measurement of success.

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