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Yes, you can!
How self-belief can boost your success

Often times in life we miss opportunities to improve our lives by thinking “I can’t”. However, in most situations, the truth is: “Yes, you can!” Self-efficacy – or simply put “believing that you can” – can be cultivated and will make an important difference in every aspect of your life, from your relationships and your career to how you manage your money.

“Self-efficacy” refers to a person’s belief in their ability to succeed in a particular situation. Research has confirmed that this belief in your own abilities has a profound effect on those abilities. The stronger your belief in your ability, the more likely you are to achieve success.

“Whether you think you can – or think you can’t – you’re right.” – Henry Ford

This is because our belief in our own ability to succeed plays a role in how we think, how we act, and how we feel about ourselves. It also impacts your motivation and your behaviour; what goals we set, what we do to achieve them, and how we feel about the outcome.

Financial self-efficacy

In terms of money, the term ‘financial self-efficacy’ or ‘FSE’ is used to refer to our belief in our own ability to achieve our financial goals. Our FSE affects how we think about money, what we do with our money and how we feel about our ability to manage our finances successfully.

Fortunately, financial self-efficacy is not fixed. Your belief in your own abilities changes and grows with different experiences, and you can also increase your self-efficacy by taking the right actions.

April Challenge:

What financial actions have you delayed because you were thinking “I can’t”?

Join our April challenge and share your top three money actions with us, and we will encourage you to be accountable for the changes you want to see in your financial life.

Below are our top 10 financial actions for you to choose from:

  • Draw up a budget
  • Check your credit report
  • Make sure you have the right protection
  • Start saving
  • Draft or update your Will
  • Get a debt snapshot
  • Review your bank statements
  • Review interest rates
  • Update beneficiary forms
  • Set a financial goal

Whichever three actions you choose to share with your financial coach, you can expect us to show you “Yes, you can!” Your financial coach can provide the support you need as you take these actions which will make a difference in your financial life.

Simply click here to contact your financial coach.