Think Big...Believe Big...Act Big. We all have the ability to control our mindset to be positive and think BIG. Achieving goals is a matter of knowing what they are and taking the action to achieve them. Recently, I had the pleasure to speak to young adults who grew up in the foster system about being financially responsible.
Currently, youth have a high percentage of being ‘unbanked’ and ‘underbanked’. What this means is that if you are unbanked, you do not belong to a financial institution, you have no checking or savings account. Being underbanked, means that you rely on nonbank or check-cashing establishments to conduct transactions.
The problem with being unbanked and underbanked is that you are not establishing any credit and if you are not establishing any credit you are limiting yourself to what you will be able to do. If you have no credit then you are eliminating your possibility of purchasing a house.
In order to be financial responsibility, children must be taught good financial habits. I read an learned recently that only 17 states in the nation require a personal finance course as a high school graduation requirement. So, as a result an organization that I belong to, Central Valley Realtist Board (CVRB) of the National Association of Real Estate Brokers (NAREB) decided to create a program called "Teach Our Youth" to encourage financial literacy. We expect these young adults to go out in the world and do great things to help keep the economy strong...and they don't even have the basic financial skills to help themselves.
So, one of my goals is to help individuals realize at a young age to be financially responsible and that owning a home should be a goal not only because it's a place to call home but because investing in real estate helps build your wealth.
I believe that financial freedom should be on everybody's checklist...I know it's on mine! In order for our youth to know, they have to believe that it is possible and have an idea of what those steps are to reach the goal of being financially free...you have to plant the seed that it is possible. So, we need to embed the THINK BIG mindset not only in ourselves...but in our youth as well.
"What is amazing is that Big Goals and Big Models also have a powerful magnetic effect." Gary Keller