Ep 334: Why is Managing Finances More Behavior Based?

Sean: Why is managing finances more behavioral-based? Why is it behavioral? Because whatever you actually do is what is going to be affecting your finances. Why we say it's more behavior-based than anything else is because when we say behavior, it's actually what builds habits. And habits are so important because habits are what you do on autopilot. These are things that you don't think about, that you just do. And so a lot of people today their just do it habits sometimes involves just opening Shopee and Lazada. You know those are wonderful e-commerce platforms, but once you spend time with them unnecessarily and unproductively, you start buying stuff that you don't need. That's not going to be good for you. It is behavior-based. It has a lot to do with your habits, the habits that you build. And so I'd say, you have to change behaviors from the mind. You have to invest in what you will know, is what you will practice in behavior so that your habits will follow your behavior and you read a lot of books about personal finance management. Randell Tiongson, the author of the book, No Nonsense Personal Finance, is a really good book to read and that has the five levels of personal finance management that you have to follow. It's an amazing book for you to read. Another author that I do recommend and have personally read is Dave Ramsey's The Total Money Makeover. They have US culture in the book, but it's also the same principles, the five steps to personal finance management, which is really the fundamentals of what you have to fall into and what you have to do if you want a good foundation in your personal finance management. Youtube: https://www.youtube.com/leadershipstack Join our community and ask questions here: from.sean.si/discord Facebook: https://www.facebook.com/leadershipstack