Self-confidence is the secret ingredient most successful people have in common. The difference between financial success and failure could be a good dose of money confidence. As we enter into a new season we encourage you to look at your level of money confidence and the impact this has on your personal finances.

Self-confidence is defined as “a state of mind or a manner marked by a faith in oneself and freedom from uncertainty”. It can be said that “self-confidence is the difference between feeling scared out of your wits and feeling unstoppable!”

Money confidence is the ability to feel in control of your personal finances. Finscope indicates that 6 out of 10 South Africans have a low financial literacy rate which basically means that we are not confident about making good financial decisions.

The good news is that money-confidence is a skill that can be learned and built on. We found this awesome A – Z plan to build your money confidence developed by ANZ Banking Group in Australia, we hope you find it useful:

A – Ask for help
B – Build a better budget
C – Control spending
D – Develop a plan to build a secure financial future
E – Educate yourself
F – Fund your family’s future
G – Give yourself a head start
H – Home loan knowledge
I – Invest with greater confidence
J – Jump start your savings
K – Know your credit profile
L – Look for the right advice
M – Manage your money
N – No to unnecessary spending

O – Own your own home
– Protect the things that matter
Q – Question your bank charges
R – Retirement readiness – Will you be able to retire?
S – Save every day
T – Take control of your debt
U – Understand your risk profile
V – Value financial independence
W – Work on making your money work for you
X – eXplore investment options
Y – Yes you can
Z – Get amaZing results as you build your money confidence

So this October we encourage you to focus on the positive: Self-confident people are more positive – they believe in themselves and their abilities! By improving your money confidence you will increase your chance of financial success. Remember your thoughts and confidence sets winners apart from losers, as Henry Ford said, “Whether you think you can or think you can’t – you are right”.