We Finns are not known to be the most positive people in the world, even though being born in Finland is called the lottery winner. Often optimism is seen as a good trait and pessimism as a less desirable trait. Fortunately, however, pessimism can also be useful, especially in monetary matters! Find out why pessimism can be good for personal finances and be proud of being a Finnish pessimist!
Save for a bad day
Optimists can easily forget about saving for a bad day, while pessimists are more likely to have picked up a tuft of egg for the surprising expenses. In monetary matters, if it is worth devoting a few moments to thinking of the worst-case scenario and making an action plan in the event of a disaster. To get started on saving for a bad day, even optimists can get by reading our tips on saving a bumper fund!
However, folio hats are not a good idea. To be prepared for the worst, it is enough to remain realistic about the threat. So, in the midst of pessimism, you don’t have to be prepared for the resurrection of zombies or the arrival of aliens. It makes more sense to think about how you can survive financially if you are unemployed or seriously ill.
Identifying your own weaknesses
Pessimists often recognize their own weaknesses better than optimists. The pessimist knows that money should be transferred to savings account immediately on payday, otherwise money will be wasted. The optimist, for his part, believes in controlling his impulses and considers good self-control, and plans to transfer money to a savings account only nearer the next payday. In reality, these tactics only rarely save money.
Borrowing is based on optimism
Often when one takes on debt, one is optimistic about the future. He believes he can pay off the debt on time, the job prospects look great and the car doesn’t fall apart or anyone gets sick. An optimistic attitude can lead to an overestimation of one’s ability to pay and lead to excessive debt. The pessimist, on the other hand, is more cautious about debt and may refrain from taking on debt at all, or at least assess his solvency more moderately than an optimist.
Whether pessimistic or not, sometimes the circumstances may require you to take out a loan. In this case, it is important to remember to compare the loans to find the most favorable loan. Luckily, comparing loans doesn’t have to be difficult if you let us do the comparison for you!
Not snoop pessimists on scams as easily as optimists. While the pessimist is skeptical of anything that sounds too good to be true, the optimist believes in the good of the people and can lose their money in all sorts of money scams.
While adopting a pessimistic attitude can be helpful in managing your finances, it is not worth losing sight of too dark a mood. Pessimism could really be described in this story as meaning being prepared for the future and planning things in advance. It is also worthwhile not to let useful pessimism in economic matters tarnish the whole mindset but to look at other aspects of life with a smile on your lips.