So, you’re shy, you may always have known this or it could be that it has recently become apparent, whichever there are many of us so welcome to this friendly introverted group.
Being a shy individual can make a difference in all areas of your life, from what you are able to earn to the reasons that you make the decisions you do with regards to investing. Introverts often share many similarities and the following financial points are based on my strengths and weaknesses and are liable to be similar to other introverts.
It is important to take on board whilst reading this that not all introverts have every characteristic that makes an introvert. You may have already become incredibly good at something that is a weakness in many other introverts or it could be that you find you struggle with something that fellow introverts class as a strength. However the following finance tips for introverts should help you to identify areas that could benefit you hugely in the long run.
Making the Most of Your Strengths
There are many finance tips for introverts to take on board and if you are an introvert you should use the things that you are already really good at to make improvements to your finances and be sure not to let someone who is far louder and extrovert talk you out of your decisions.
1. Lots of Savings
The first finance tips for introverts has to be that it is a known fact that introverts appear to be very conscientious and conscientious people are known to save more money for their retirement, unlike other types of people. In a society where fewer than 5% of the workforce will have saved adequately for retirement at 65 years old this is a great advantage.
This inclination to save will not just help in your retirement, if you are smart you could easily avoid a lot of the debt that others find themselves saddled with. You could even purchase your vehicles with cash.
Tip: To make the most of this finance tips for introverts and to use it to your advantage calculate what you think you will need for your retirement and then work in reverse to see how much you should be trying to save each month, it is worth deciding how much you want for emergencies and your savings then you can ensure that you are working towards these figures.
2. Play the Long Game
As an introvert, you are perfectly aware that your wealth will be a slow growth and this does not bother you. You are happy with the small amounts as you are fully aware that these will mount up over a period of time. By thinking in terms of the advantages you understand recession and that you can work through it and you are not about to panic because your assets have devalued, you understand that there is no need to change everything. Introverts understand that there will be ups and downs on their path to riches and that everything will work out in the long run.
Tip: The finance tips for introverts show that introverts will factor in financial difficulties, you can either have a substantial emergency fund or that you could work for an additional period of time if the market is not buoyant enough for you to retire at the age of 65.
3. Keep Calm and Carry On
Amongst the calmest people are introverts, they are more prepared and used to having to act in a different way to how they are really feeling. They are not likely to panic when faced with adversity, whether this presents itself in the form of a market crash, large medical bill or an investment that turns bad, they are not likely to panic and can make well thought out informed decisions.
Tip: When faced with something bad financially make full use of your natural calm nature. Finance tips for introverts show that if their stocks fall dramatically they won’t sell just because you are scared and if they receive an unexpected bill they will always think of a way to pay it as they are not being driven by fright. They will use their clear head to work a way through the unexpected and come out of the situation unscathed.
4. Listen
Introverts are known to listen before speaking and this quality makes them good leaders but it also means that they tend to be very good investors.
Tip: Many people jump straight into investing but finance tips for introverts on the other hand listen and take on board all of the advice and where others have gone wrong. With this knowledge they then are able to ensure that their own strategies are based on the success of others and their own knowledge and research
5. Negotiation
Introverts dislike conflict and as so they are more likely to give in than negotiate. Knowing how to negotiate can be invaluable when it comes to financial matters. Whilst they have the knowledge they tend to back away from negotiation.
Tip: Where possible use emails to negotiate, this will minimize disagreement and gives you the opportunity to put your thoughts into words. If this is not an option, it is worth writing down what you want to convey and learning it off by heart before you head into a meeting.
6. Being Valuable
Fortunately for introverts getting ahead no longer means promoting yourself as loudly as possible. Gone are the days, when you have to promote yourself loudly or you’ll never get ahead. Finally there is a level playing field for introverts and extroverts alike with regards to the money that you can potentially create.
Tip: You do not have to be someone you’re not just use your natural skills. With your listening skills you can work through creative solutions and this will help you to advance in the right company.