A matter of principle: Managing finances in Russia, sharia style

by Shelton on August 18th, 2014

filed under Finances

Islamic banks in Russia are in a rather tricky position from the point of view of their legal status, taxation and contractual relations. Experts attribute it to the lack of the relevant laws and regulations and to the overall lack of awareness among the general public about what Islamic banking is. However, the sector is now being actively developed and shows promise for the future.

Could Money Beliefs Sabotage your Finances?

by Shelton on August 18th, 2014

filed under Finances

Could Money Beliefs Sabotage your Finances?

8/14/2014 (Updated 6:44:17 PM)

Jason: Could beliefs about money be holding you back? Greg Lesko of Lesko Financial says thats what researchers are discovering. Greg.

Greg: Thanks, Jason. Sometimes when people have trouble saving, or investing for retirement, the root cause is a faulty money script. Financial researchers say how we manage money comes from how we think and feel about it. Those beliefs, in turn, come from messages we learned about finances while growing up.

Maybe you were taught that rich people are greedy or that money makes you happy and you can never get enough, or that self-worth is equal to net worth.

These ideas can become embedded in your thinking and lead to poor money habits.

Jason: What kinds of problems can these money scripts cause?

Greg: Its interesting ,but very different beliefs can cause the same difficulties with money. Overspending, compulsive gambling, and too much debt can stem from beliefs that money is bad or from beliefs that it is the most important thing in life.

You have to look for the underlying message to see what the script actually says.

Jason: Can we change our money scripts?

Greg: Yes. Start by remembering how your parents handled money and what they taught you about it. Identify family sayings, such as the rich get richer or its wrong to become wealthy when so many people are in need. See how this plays a role in your own finances.

Then maybe you can develop some revised money beliefs.
it wont guarantee that youll get wealthy, but it could help you stay on track with your financial goals.