Just the other day on a trip to my local Ace Hardware store, I realized the approach I take while shopping there applies to money matters as well.
The employees always point me in the right direction. But once I’ve been guided to the right product, I ask more questions. I want to make sure I’ve got the right tools and know how to use them properly to complete my projects around the house.
Sometimes it’s hard to admit you don’t know exactly what you’re doing. Trust me, I frequently feel like the folks at Ace are going to laugh at the laundry list of “How do I…” and “What if…” questions I spout off. But I ask them anyway, because having a conversation with the experts and getting a better grasp of your situation helps in the long run.
And that’s the case when it comes to your finances.
When you’re applying for a new account or talking through a payment option — really, any time you have contact with someone about your finances — be sure to pipe up if you don’t understand something. There are no stupid questions. The more you can learn about your accounts and managing your money the better.
Better yet, just talk through your situation with a banker, your financial aid officer, etc. There might be a solution that you hadn’t even thought about that could be helpful. Case in point: A while back when I was looking to pay my mortgage using automatic payments, I called a mortgage representative and talked through my situation. There ended up being a great solution that solved my automatic payment need and at the same time helped me simplify my budget.
Tell us: Have you ever been afraid to ask questions when it comes to your finances? Or are you like me in the hardware store and ask away?