Lazy investors are not individuals who simply do not care about their investments. NO, instead they are people who lack the motivation to do something regarding their finances. This classification includes people who avoid a financial situation or money topics which can be seen as a lazy approach.
These individuals may have a good understanding of what can be done or should be changed, but struggle to take the understanding into action. Commonly this approach has been developed from a negative association with money whereby they understand the importance but consider money manners as unimportant or unpleasant.
People who struggle with these feelings often find themselves having problems organising their financial matters and may have ongoing arguments about money. Naturally, if people see money as an enemy, they will not have a clear understanding of the benefits of ensuring the presence of money during their life.
Actions that lazy investors tend to do – unknowingly – include difficulties with actually spending money, mainly due to feelings of guilt and anxiety. They also develop a strong sense of financial denial, where the need for establishing financial priorities or responsibilities is not considered important enough to act; poor communication with their partners about money, and getting into debt.
This leads to financial rejection which can be seen as impulsive and unnecessary buying which results in more debt or mismanagement of their finances.
If you have experienced any of the symptoms above, learn what you can do to easily avoid this and build a good financial life management plan:
Lose the fear and start talking about money in a different manner
A good starting point is to begin conversations about your financial wellbeing and difficulties with money. This will enable someone to help you organise your finances but also understand why you have this approach to money. This could mean making a simple budget which highlights your income and different outgoings. It might uncover the reasons behind any financial difficulties or ways you could see the benefits and use the money for things you want.
Have challenging life goals
A difficulty with lazy investors is that because they struggle with money, they do not set long-term financial targets. These targets allow people to aspire towards a financial goal which might secure their financial security or allow them to make a specific purchase. However, it’s important to make these goals realistic as over-expectation might reinforce the negative association with money.
Use technology in your favour to battle money problems
It can be hard to eradicate all the financially harmful practices that people accumulate over a lifetime but it’s possible to use technology for support. Some technologies allow us to keep track of your finances, all banks have mobile apps so check what’s your money and understand what’s happening with your outcomes more clearly.
The information you gather will have a positive impact on your finance´s by raising as much financial awareness as possible. Expressing gratitude for the things you have, for your income, for being able to enjoy life, whereas many people can’t afford a living, will definitely help you to see money more like an ally.
Don´t be afraid of claiming what’s yours
Money laziness can come in a strange form of money avoidance. People will avoid dealing with financially related matters, like for example claiming money that’s being owed to you or unwillingness to come to terms with the debt that they find themselves stuck with.
Prioritise quick wins
Try to change a negative association with money will be difficult, but it’s about showing the impact actually facing your financial problems or negligence to money can cause. Therefore, take the opportunity to set up small targets which can be seen as a quick win. Once you start achieving these quick wins, you’ll be able to see that money management isn’t too hard, but it will also show that the accumulation of all these quick wins can mount up to a larger money management goal.
Get support
If required, you need to be able to request support from a professional. You won’t be their first customer who’s got money avoidance issues and you won’t be the last. These professionals can assist you to plan your outgoings and create long-term, achieve habits to reach your financial goals.
Lazy investors and money avoiders definitely struggle with matters that affect them in the long run, but by following any of these practices, you can reach a new state of financial wellness. That is the first step into creating a useful financial life management plan that works for you.