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This Halloween: 3 Financial Fears and how to deal with them

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3 min
Article
By Birdee
Whilst many of us recognize ‘money isn’t everything’, having ‘enough money’ is generally considered fundamental to living well. It’s therefore no wonder that our money habits become easily entangled in the spiderwebs of fear and risk, danger, threat. For a Halloween trick or treat, Birdee looks at three common investment, financial fears and how to (please excuse the pun) cast a spell on them. Fear 1: ‘SKELETONS IN THE CLOSET’ - the unexpected and the hidden. As we know, this saying refers to the discovering dark secrets and undisclosed facts of a sinister nature…  A common fear with our finances or investment options is not having clear transparency and all the facts, that unexpected costs are concealed like a mouse trap for our toes….Snap! Who knows what is lurking in the dark shadows of that investment envelope, right? How to manage: At Birdee transparency and honesty with our customers is one of our core values. If you have any questions you can contact us, we are real people: - who answer the phone  +352 20 30 16 22 from Monday to Friday from 9am to 5pm. - answer emails: info@staging-birdee.kinsta.cloud - or who respond by chat via the conversation button on the Birdee website. You can also look at out FAQs for clear, uncomplicated information here. Fear 2: ‘WEREWOLF IN MOONLIGHT’ - things are changeable. Dating back to Greek mythology and classical literature, stories of man turning into wolves by the eerie, pale moonlight has long been an example of change we have little control over. That things can change, including our financial situation, without us wanting it to can be a tricky fact to face. How to manage: The good news is there are ways to manage this. One main way to ride the changes can be to set up a financial safety net that you could draw upon should a sticky moment arrive. At Birdee, your investment portfolio can be just that. As with the standard investment envelop you have flexibility on your side, meaning, you can withdraw your cash should need to and have your investment transferred back to your bank account in just 3 clicks. This allows you both the benefits of profits from investing and the freedom should you need it for that rainy day (or moonlit night..). Fear 3: THE BLACK CAT- it will all go wrong! The indeed, innocent, black cat crossing our path has long been maligned as the symbol of bad luck, (particularly if one walks across the path in front of us) the omen that misfortune is to arrive . Our understandable fear when trying something novel, like investing for the first time, could be: ‘but what if it all goes wrong??’ How to manage: The Birdee app is structured through ‘robo-advisors’ aka experts controlled algorithms which diversify (spread out) your investments to make the most of your money as possible (for more info read: ‘What Actually is a Robo-advisor?’ here.)  Additionally, if you are a first-time investor, you can begin by investing a smaller amount, Birdee offers possibilities for low entrance amounts. You can also select the type investment portfolio from the more dynamic to the more defensive see here. All these factors allow for a more moderated risk to suit your personality and your budget. And of course you can always chat with our experts!   Fears and worries of all that goes creak in the night can be willful in its pursuit to dominate our thinking.  Accept this as human nature. Then consider a few mitigation plans. This process of acceptance and thinking through should encourage comfort, peace of mind and financial confidence. Remember as Senaca, the Roman Stoic philosopher observed: ‘We suffer more in imagination than reality’……

Birdee wishes you a happy Halloween!

 

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