We are soon to enter the third decade of the 21st Century, the year 2020. 20/20 is also known as hindsight – the ability to understand an event or situation only after it has happened.
As we have all experienced at one time or another, the benefit of hindsight is that it provides us with wisdom, learning, perspective, and knowledge of what we could have done differently or better.
Hindsight is 20-20 (Photograph) Authors. Michael Ball, Denison University. NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window. 5.0 out of 5 stars 20/20 Hindsight Reviewed in the United States on April 9, 2013 Marjorie Gibson McCarthy's new book, '20/20 Hindsight' is so good that I'm sad I finished it.
Over the past twenty years, society and our daily lives have experienced exponential change as a result of technology. Most significantly this involves the expansion of the World Wide Web, WiFi connected smartphones, and our 24/7 global online economy.
If we use hindsight into how these changes have impacted the state of Personal Finance today, we can highlight three key things:
All together, the state of Personal Finance in Canada is very precarious and I believe we have reached a tipping point. The current generation of people in their 20s, 30s, and 40s, aptly known as Generation Squeeze, need to do things differently and not in hindsight.
The first thing we must do is change our mindset when it comes to money. A mindset is quite literally a setting of the mind. It is a lens, or frame of mind, through which we view the world. Mindsets play a dramatic role in determining our health and well-being. What we think, what we believe, and what we expect determines our response. If we can shift our mindset, we can dramatically alter our personal and professional lives.
As a Personal Finance Educator & Money Coach, I believe being Fin$mart is the money mindset we need in the 21st Century. When we are Fin$mart, we are intentional with our money. We spend our money consciously. We take equal pleasure in saving as we do spending. We value anticipation over instant gratification. We align our spending with our goals, our values, and the things that are most important to us. We live within our means and know the difference between our needs and our wants. We prioritize. We research. We evaluate. We reflect before, and not in hindsight.
Will 2020 be the year you get out of debt? Start saving for your future self? Make a career change? Achieve an important life goal? or Help your children launch with the benefit of Personal Finance education?
Let’s make 2020 the year we all get Fin$mart!
Share a comment below about what you hope to achieve in 2020.
But before that, as a bonus to this inaugural Blog post, I am excited to share this interesting and inspiring TEDx Talk about the power of our mindset. Set aside 20 minutes in your day to view this video and Enjoy!