How Pessimism Can Actually Improve Your Finances

By | August 28, 2018

Are you a pessimist when it comes to financial matters? Well, it could actually be good for your money. Read on to know more.

Are you a pro at imagining the worst? Are you one of those who just has to find an excuse to think negative? Or the type who doesn’t really need an excuse to imagine the worst because it comes to you naturally?

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It’s not easy being a pessimist. We get the struggle. Pessimism simply means that your brain needs to function multiple times faster than that of an optimist. Because, instead of thinking about a positive result, you end up cooking multiple negative scenarios in your head. This increased brain functioning can often lead to stress too. But you simply don’t care.

Now that we’ve accomplished that you’re a pessimist about everything, you surely have similar thoughts about your finances too. Don’t you? Well, if it makes you feel any better, the good news is that being a pessimist is actually good for your money matters. Don’t believe us? We have enough reasons to prove our point.

It Helps You Save Better

Since you’re so used to thinking only about the worst things that could happen, you always end up saving better. You love to be ready to face any financial challenges life might throw in your face.

People often keep saying that you must save for rainy days. Well, according to the pessimist in you, every other day has the possibility of being a rainy day. Nobody might think about the scenario of losing their job as frequently as you do. As a result, you keep putting some money aside to support you in such situations. You’re more likely to have more Recurring Deposits and Fixed Deposits as compared to your not-so-pessimistic friends.

Additional Reading: A Comprehensive Guide On How To Increase Savings Over Time

It Helps You Spot Your Money Weaknesses

Optimistic people have this habit of overestimating their ability to deal with problems. Be it a financial trouble or any other personal emergency, they’ll always think they’re ready to face it. Sadly, that’s not how things work.

Pessimists, on the other hand, always underestimate themselves. They keep thinking that no matter how prepared they are, they will end up falling prey to every other problem in the world. Since they tend to be more aware of their weaknesses, they are always better prepared to face troubles.

If a pessimist knows that they are shopaholics, they will imagine the worst possible scenario and take every action possible to stop themselves from overspending. It could even mean not stepping out at all, not even for window shopping. If an optimist faces a similar shopping addiction issue, they are more likely to believe that even if they end up overspending this month, they can always catch up later. As a result, an optimist ends up spending more on unnecessary things as compared to a pessimist.

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It Reduces Your Chances Of Opting For Debts

If you are a pessimist, the chances of you opting for loans and other forms of debt drop automatically. You are more likely to opt for a debt only if it’s absolutely necessary. However, life is not that simple for an optimistic person. Like always, they overestimate their ability to repay loans. This positive spirit often leads to a lot of financial troubles.

Such things can’t happen to you since you’re always scared of something going wrong. And you not being able to pay your debts on time. So, you tend to steer clear from any debt-related situations as much as possible, unless it is absolutely necessary.

Additional Reading: 5 Tips On How To Get Out Of A Debt Trap

It Decreases Your Chances Of Falling For Scams

Pessimists don’t really trust anyone. This quality works like a charm for them when it comes to online scams and frauds. They are less likely to fall prey to scams.

Let’s assume that an optimist and a pessimist both receive an email from an unknown source offering them something free. While an optimist might just jump off their chair and start looking for ways to actually make it happen, a pessimist is more likely to imagine the worst. By the time they finish reading the email, they’ll have a variety of questions in their heads – ‘who sent the email’, ‘what do they want’, ‘why are they offering free gifts’, etc. And, in the end, they will just ignore the email.

Such thinking helps pessimists stay away from online frauds and scams.

Now that you know the advantages of being a financial pessimist, you might not feel bad about being one. But just to let you know, we have the best of financial products to offer and you can never go wrong if you choose us. Give us a shot by clicking the link below.

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Category: Money Management UCN

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