EP082 How to Avoid Financial Roller Coaster Rides

Roller coasters are without a doubt the highlight of every theme park enthusiast. The multiple twists and turns, the climb and the drop that seems to never end, riding a roller coaster will definitely get your blood pumping. As fun as a roller coaster ride can be, the way you manage your finances shouldn’t replicate the ups, downs, and nauseating turns that ride makes.

 

Today, I share tips on how you can avoid financial roller coaster rides. I describe the similarities between roller coaster rides and common financial woes. I discuss the logic behind the tips I provide and cite multiple real-world scenarios which you may or may not relate to. I also explain how you can be in charge of your finances without being stressed out.

“No matter your level of knowledge or financial acumen, you are in charge of your financial life.” – Tracey Bissett

 

This Week on Young Money:

 

• Strategies for taking control of your financial situation and increasing your financial acumen.
• How planning your finances and setting short, medium, and long-term goals can help you avoid financial roller coaster rides.
• Examples of short-term, medium-term, and long-term financial goals.
• How to be prepared for unexpected events that may impact your financial situation.

 

3 Tips to Avoid Financial Rollercoaster Rides:

 

1. Take control of your financial situation.
2. Make plans for the short, medium, and long term.
3. Be ready for the unexpected; don’t give up and adjust as necessary.

Resources Mentioned:

 

• Canada’s Wonderland
• Cedar Point
• Longest, fastest, highest roller-coaster of its type set to terrify riders at Canada’s Wonderland – CBC News

 

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