The Road to Financial Success- Seeking wise counsel

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The Road to Financial Success- Seeking wise counsel


There is wisdom where there is a multitude of counsel. We need wise counsel from different people even on handling money. Seeking wise counsel is one of the principles of financial success. This can be especially true during times of uncertainty. It is important to look at the issue from different perspectives and to consider different options. A well-rounded approach can help to ensure the best decisions are made. We shall take our reading from Proverbs 11:14 (ISV) where it says, “A nation falls through a lack of guidance, but victory comes through the counsel of many.”

Why seek wise counsel?

There are several reasons to seek wise counsel in financial matters. Wise counsel can provide perspective on a particular financial decision, as well as advice on how to manage money. It can also provide insight on how to invest for the future and create a stable financial plan.

1) Perspective on a financial decision  

This is particularly critical when considering the long-term effects of any decision. Wise counsel can also provide guidance on how to handle debt and protect against financial loss. For example, an advisor may suggest that a person budget their spending, set aside money for an emergency fund, and create a plan to pay off debt. Asma Naqi, a Pakistani author, wrote: “Never judge anyone by the choices they've made, because you never know they might have selected the best option out of two bad choices.” 

2) Advice on managing money 

Advice from people with a successful economic history can be invaluable in helping you to make the right decision in your circumstances. Additionally, having a financial plan and setting goals for the future can help you make the most of your money. For example, setting the goal to save a specific amount of money each month, researching where to get the best interest rates, and tracking your spending can all be part of a comprehensive financial plan. As Orson Scott Card once wrote: “The wise are not wise because they make no mistakes. They are wise because they correct their mistakes as soon as they recognize them.” 

3) Insight into investing and creating a stable financially secure future 

This can be gained through conversations with those who have experience in the area. Seeking the advice of a financial planner or advisor can also be a great way to ensure that you are making the best decisions for your money. For instance, a financial planner can help you review your current financial situation, identify financial goals and develop a plan to reach them. Ben Stein, a famous American economist, once said: “I don't really consider myself to be a personal finance expert compared with some others. There are quite a few that know a lot more than I do.” 


We note from the above that guidance on financial matters is key to our financial success. Wise counsel from a multitude of people or advisors can prove helpful. Seek wise counsel in your life. Financial advisors can help you make smart decisions about your money. However, it is important to research and vet potential advisors to make sure they have the knowledge and experience to help you. It is also important to remember that the final decision is ultimately your own. 

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