The secret to fixing financial flaws may be sitting right next to you
For the past 30+ years I have been involved with helping people establish positive financial habits. I discovered that there was one constant that could make a huge impact in whether someone was able to overcome their financial shortcomings. The key was having a mentor, in this case a money mentor.
A mentor is someone that takes an interest in you and is willing to help. By helping, I mean offering guidance and becoming a role model. I have found these individuals to be critically important for those struggling to get a grip on their financial present and future. Mentors are everywhere, they could be a friend, co-worker, relative or even your boss. They must have one very important quality to make them a possible candidate. They must be willing to help. I have met a number of successful people that are too self absorbed to want to share. Avoid these people at all costs because it will always be about them! You do not want to be lectured just schooled. Some of the other qualities that I look for in a mentor: they must be smart enough to understand your problem, have time and a willingness to share their personal experiences.
Early in my career I met a successful man that impacted my financial principals in a very positive way.
Sam happened to eat breakfast at the same diner that I frequented three mornings a week. On one of those mornings, I sat next to him at the counter and struck up a conversation. He was probably in his seventies and was VP of sales for a national company. I explained that I was new in sales and was struggling. Sam said he had lots of experience and might be able to offer some guidance. Over time, I learned that I was being mentored by a sales superstar. Sam was sincere and willing to share his secrets of success. With each morning’s discussions, my confidence grew and I began to turn the corner. He was clearly as excited as I was about my progress, when I reviewed my weekly results with him.
Our breakfasts were having a huge impact on my numbers.
One day I asked Sam a money question about when was the right time to buy my first home? I was tired of paying rent and voiced that opinion, which led him to recommend an affordability study. His first request was to see my budget. I did not have one but I put one together for our next meeting. After a thorough review of my budget and my prospects for future income, it became very apparent that I would have been over my head. Sam explained that timing is everything and it just wasn’t the right time. With his assistance, I developed a money goal and when achieved, we would discuss it again.
That wisdom kept me from making a huge mistake and the serious financial stress that bad decisions create.
I cherished our breakfast meetings and they lasted for years. When Sam passed away I lost a true friend and my first mentor. What I have never forgotten were all the times he allowed me to tap into his library of financial wisdom. Those early morning conversations helped me develop the money principals that I wrote about in my book If Your Money Talked… What Secrets Would It Tell?
So my advice to you is to seek out a financial mentor. Find someone you trust, that is willing to help. Remember many people are flattered to be asked for their help. It is a testament to their character and the amount of respect you have for them. With the right mentor, you can put yourself on a positive financial path and maybe breakfast will become your most important meal, just like it was for me!
Read more posts by Gary Sirak here. Gary is a contributing blogger for JenningsWire.
JenningsWire.com is created by National Publicity Firm, Annie Jennings PR that specializes in providing book marketing strategies to self-published and traditionally published authors. Annie Jennings PR books authors, speakers and experts on major top city radio talk shows that broadcast to the heart of the market, on local, regionally syndicated and national TV shows and on influential online media and in prestigious print magazines and newspapers.
