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Keep an Open Mind

“A mind is like a parachute. It doesn't work if it is not open”
— Frank Zappa

Maybe it’s time to change things up a bit. Pursue a hobby, enroll in a course, or try something new. It doesn’t need to be a huge change, but keeping an open mind may actually help you with your financial goals down the road.

In 1973, a college dropout named Steve Jobs wandered into a calligraphy class. The typography he learned was later featured in early Apple ‘Mac’ computers. The lesson? You never know what will be useful one day. Just try new things and see how they connect with your experiences later.

Jobs reflected: “You can’t connect the dots looking forward; you can only connect them looking backward. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.”

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Why it pays to be balanced

Keeping an open mind helps you find opportunities – in your everyday and with your finances. It may be easier said than done, but the best way to cultivate an open mind is to practice.

1. BE ENDLESSLY CURIOUS

Learning never stops. Expose yourself to different worldviews, cultures, languages and ways of thinking. In the words of Albert Einstein, “I have no special talents. I am only passionately curious.”

2. KEEP THINGS IN PERSPECTIVE

When stressed or upset, it’s easy to get caught in a cycle of reacting. When you feel frustrated, ask yourself if it’s a tragedy or merely an inconvenience. Most things are simply inconvenient – perceiving stress in this light allows you to reframe the situation and continue to stay on track with your goals.

3. UNDERSTAND THE COST OF CASH

It’s hard to imagine that having too much cash could be a bad thing. But when it comes to your portfolio, having too much cash allocation may inhibit your long-term goals.