Dr. Vivek Murthy, the current U.S. Surgeon General released a 2023 report about the health of our nation, and when asked what’s the number one disease in America, his response raised a few eyeballs. I’m sure everyone was expecting him to name the usual suspects like cancer, heart disease, diabetes, and Alzheimer’s, but he said the number one disease in America is...
Isolation
This monster's number one job is to keep us stuck in solitary, afraid to reach out to others and surround ourselves with the people who can help us in our areas of weakness. Unfortunately, its grip is becoming stronger by the minute, and while it's well-known that isolation can take a toll on our mental and emotional well-being, its effects on our personal finances are often overlooked.
Humans Are Strange Creatures
That sounds harsh, but I respectfully believe this to be true. We would rather "suffer in silence" than raise our hands and ask for help in many areas of our lives, especially when it comes to our money. Thus, we often fall prey to the Isolation Monster, which can lead to poor financial habits and long-term financial challenges. Yes, I know there are exceptions to this rule, and not everyone needs help when it comes to money management, but I would venture to say that most of us do (myself included!). But this monster has the ability to limit our access to valuable resources like financial educators, advisors, mentors, information, or educational opportunities. Without expert guidance, it's so much easier to make uninformed decisions regarding financial opportunities, investments, savings, and debt management.
Reduced Accountability
The Isolation Monster is a master at making us feel less accountable for our financial actions. Without a supportive network to provide feedback or encouragement, it's easier to neglect financial responsibilities, overlook proper saving tactics, miss out on wealth-building opportunities, or ignore good money stewardship altogether. This lack of accountability can lead to financial disarray.
Slaying The Monster:
So the obvious question is, how do you slay this monster, right? Well, none of this is rocket science, but I believe that these three common sense monster slayers will help you succeed in your financial journey!
Join The 3M Club: What's the 3M Club? This is when you connect with either a Mentor, Maven (an expert in their field), or a Mastermind group. Personally, I would recommend finding all three if possible because they add different values and prospectives to helping you defeat the monster. A (touchable) mentor has already walked the path you're heading towards and will provide insight, a maven (expert) will help you with the "know-how" towards your financial journey, and the Mastermind group can stimulate creativity and wealth-building ideas along the way.
Cultivate Financial Literacy: Another way to slay this monster is to level up your financial knowledge. You don't need a Ph.D. in finances, but a baseline education will help. There are so many resources out here to assist with your financial journey, whether it's personal finance books, taking online courses, attending financial webinars, or engaging with reputable financial resources. Enhancing your knowledge is the key to empower you to make informed decisions.
Set Your Target: It's difficult to get anywhere in life if you don't know where you're going! Creating clear financial goals and developing a plan to achieve them is key before starting the journey! Without a target, it's impossible to hit the mark.
Let me be very clear, the Isolation Monster is dangerous! Its job is to trap us in a cycle of financial struggles by limiting opportunities, fostering poor financial habits, and impeding access to valuable resources. However, with determination and strategic action, we can slay this monster. The key is not to go at it alone but instead embrace the individuals, information, and institutions that are out here ready to help us succeed towards a more secure financial future.
Shawn Dorrough
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