Financial Hyperopia- Are you a Silent Sufferer?

Finance – Financial injection – Finance (Photo credit: @Doug88888)

If you’ve heard of the hyperopia, or the saver’s remorse, don’t just dismiss it as any random psychological disorder. It is a common disorder that has started afflicting a large number of people. People with financial hyperopia can have serious effects on an individual’s finances.

Unfortunately, most people are not even able to identify this problem. This only multiplies the problem and magnifies its negative impact. Read along to know about this complicated predicament that ends up distorting most of your financial plans for the future.

What is Financial Hyperopia?

Hyperopia is a term used to denote farsightedness. Your vision for the future can sometimes be overwhelming enough to lead you to unlikely circumstances. These circumstances can compel you to become miserly and later suffer from the commonly known ‘saver’s remorse’.

On the other hand, relying too much on your present financial plans and letting them govern your expenses can also be dangerous. Most people keep allowing their far-sighted intuitive selves get the better of their rational minds and end up making huge gambles with a major chunk of their finances.

If you can relate to any one of these situations, you may be a silent victim of hyperopia without knowing. It is not just sufficient to identify that you’re a silent sufferer. This problem needs immediate attention. When it comes to finances, you rather not take any chance!

Here’s a brief lowdown on how to deal with this problem and evade the unfortunate outcomes of financial plans that go haywire:

1. Check your spending psychology– Even when you think your finances are running smoothly, it is important to check your inflow and outflow of cash. Don’t be reckless about your expenses and save for the rainy day, even when there are no clouds.

2. Don’t get paranoid when expenses are high– It is good to stick to your budget, but don’t overdo it. If you have sufficient amount aside for stormy times, don’t get alarmed at every little extra expense. A bit of here and a bit of there, a bit of planning and a bit of hit-and-trial is all a part of leading a completely balanced and healthy financial life.

3. Invest sensibly– Instead of investing on exhaustible sources of income that do not give you desired outcomes, consider investing sensibly. Let out your frugal self and spend on business moves and expansions, home renovations, real estate and the kind.

4. Study the socio-economic condition of the market- Sometimes a little knowledge becomes quite dangerous. Make sure you’re well-acquainted with the economic cycle and know where your business is heading towards. Familiarize yourself with the position of your finances and look out for the plausible causes of threat to your finances.

5. Set goals and plan finances– Planning is good, but most of our plans do not involve any backup plans. This is what leads to more confusion and less clarity, along with more uncertainties and panic later. If you plan out your finances and set goals for yourself after including some backup plans in the event of any adversities, you can lower the possibilities of facing any major financial setbacks.

You live only once and get the opportunities to spend it yourself. Use your savings and spend them the way you want, or else someone else will have them spent for you. It is imperative to adopt an approach that includes both self-control and freedom. Don’t save too much and don’t just save nothing!

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Author Bio:

James Harrison works as freelance writer. He regularly contributes write ups to business websites and blogs with most of his writings based on tips for small business set-ups, office relocation services and marketing techniques. In his free time he plays sports mainly soccer and chess. He is also passionate about reading fiction and traveling.