Personal Finance is about how you mange your money. Since we live in a society that money is the main living transaction, personal finance is for everyone. However, when I start working with my mentor, I meet a lot of people and they come from different mindset when comes to personal finance. Personally, I found there are 6 wrong mindset in Personal Finance from them. Here are them:

1. Personal Finance is only for rich people

Many people thinks that personal finance or money management is only for rich people. But I don't agree with this. If you read the history of all the rich people in the world, all of them were poor and just a normal people before. But through out learning the right way to manage their money and invest, they come to a level of RICH that many people dream for. So I believe if you learn the right personal finance and make your money making money for you, you also will be RICH!

1. Personal Finance = Saving money

Some people they is at the level 1 of Personal Finance, Saving. They try their best to save their money. To them, saving is the only way to manage their money. Yes, I agree that saving is one of the options for personal finance. But I don't agree that saving will guaranteed your future, your retirement. So for me, saving is the only option I will considered if I can't find any better ways to put my money in. So make saving as the temporary place to put your money but once the better investment option appear, left your saving and go for it!

1. Stocks is the only option to invest

I really happy when I meet some of my customers who invest in stocks. However, I found that some of them are making some big mistake because they believe that stock is the only way in Personal Finance. How sad it is to see they keep on invest in stocks because they don't believe other way to manage their money. Some of them even worst, they don't learn any about stock investment and just jump into it. So they end up with losing money.

1. Follow the “trends" of people's mouth

I found that we live in the world of full of information. There are many information available in the market daily but we must be wise and receive all the information carefully. What I found is there are a large group of people, always invest their money based on others so called “professional investors". What happen if you follow them while they are wrong? For me, it is better to keep their advice in mind and do my own research to confirm the trustworthy of the information. I really meet a lot of people lost money because follow the “trends" of people's mouth.

1. Don't have money now, so no personal finance

To me, personal finance also includes how you manage your current money, how you spend your money and how you generate extra money so you can start investing. So don't give any excuses to block yourself from learning personal finance. By the way, you will never be considered as early when comes to personal finance. Learn and apply it even though you don't have extra cash. Just prepare for the day you own lots of money.

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