19 Oct The Smartest Money Strategy You’ve Been Taking for Granted
There was this conference I remember attending a couple of months ago, and it was quite a large audience. As the speaker was concluding his talk, one member of the audience raised her hand and asked a question about the keynote and majority of the audience, including the speaker, laughed because, well, they reckoned the question was a “no brainer.”
Have you ever had that feeling where something came up which you don’t quite understand but you were afraid to raise the question because people might think you’re dumb? Well, newsflash! Asking the question won’t make you dumb. That member of the audience was humble. Humbler than most of us in the crowd. (It was quite an intimidating crowd actually.)
And being humble and asking questions when you don’t know, is absolutely a smart money strategy. More often than you think, you’ll get the answer you want.
Few years back, I was doing a loan for this couple, and it’s the first time I’m doing business with them. Everything seemed to be running smoothly as I was explaining everything to them and they didn’t seem to appear confuse. I asked them if they have questions before signing the papers. They said none. I told them to think about it overnight before proceeding with the deal and come back to me. It turned out they did have a lot of questions which they admitted to me the next day, and it took a lot of our time going back and forth, which we could have otherwise done when I asked them the first time whether they have questions. The thing was, one of them has a business degree so they felt like they should know what we were discussing.
If you never ask, you’ll never know. If it’s pride that’s keeping you from throwing that question, think of the possible consequence if you actually ask the question. From what I’ve heard, no one choked from swallowing their pride.
If you have any questions finance-related, please feel free to ask me and I’m more than happy to help. Most good things don’t come from sitting back and waiting for them. You often have to go after what you want. Want that dream car or dream house but don’t exactly know where to start? Ask me! Financial concepts usually aren’t as complicated as you might think, but a lot of us just pretend to understand them because we think we should. So don’t hesitate! In finance, there are no dumb questions.
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