An important key to win in the game of life is to be aware of how you manage your money. It is very hard to win in the game of life if the money is not fairly stated. Therefore it is important to report on financial matters, notably literacy in money accumulation methods.
Financial knowledge is rarely taught in basic education programs, such as primary, secondary and university courses including fundamental education. Because of this, it is vital for a person to pay attention to educate themselves to go to their own individual financial goals. The best way to attain this is to know what they should learn to improve their financial literacy.
The first step is to read books by experts who provide financial education in the books, as Suze Orman, Robert Kiyosaki, and experts of that fabric. Ensure these professionals teach unconventional and conventional knowledge in finances. The reason is because money regulations have changed and continue to change.
Things that made much sense forty years ago, like having a savings account is a horrible idea today. There are three groups of people who all have different levels of financial education and affects how they handle money and the world. There are the rich, the middle class and the poor.
Are You Passing or Failing with Your Level of Financial Knowledge
Poor people see financial problems as a life problem. More often than not, they believe they are victims of the global financial policies and life has given them the opportunity short and rough. Although in many cases the poor are abused, however, the mentality stays with them. The root of the conflict for the poor is that they do not take the time to educate themselves and take action so as not taken advantage of by ‘greedy rich “is any longer.
The poor class just need to adjust their mental attitude towards money. They will be able to correct financial matters in their homes and communities if they did. The money conflict is primarily an educational problem not solely an oppressive thing by the powers that be. It is within and not without, if poor people educate themselves and take actions based on what they learn; they would move from poor class to middle and rich.
Financial Knowledge Rare in Poor and Middle Class
The middle class are different. They unfortunately become slaves to their money and jobs. They become slaves and prisoners because they believe they can outsmart money. They believe this and so they participate in things such mutual funds, certificates of deposits, savings accounts, and so on; all the things that give them a sense of security.
Nevertheless, this sense of security actually imprisons them mentally, and they don’t know that they can and will lose more money at the end of the game. The reason experts and I believe this is because of the inflation we’ve been experiencing lately. Many middle class people are watching money disappear but they are playing so safe not to pay attention.
The middle class, playing the game at the “play it safe” level will eventually join the poor class. The reason is because the rich will get smarter, thus richer, and the dumber will stay dumb and unfortunately poor.
The rich class focus on the five financial keys of knowledge to increase their personal wealth. These keys focus on learning ways to make more money, protect the money they make, leverage money, budget money, and continue to learn to increase financial intelligence.
Financial Knowledge Are You Passing or Failing?
When we hear the phrase, the rich get richer, it is because the rich keep getting smarter by increasing their financial IQ. They seek professionals for consultation or read literature or journals about financial times, and then most of all they solve their own problems, which is the greatest education of all.
The conclusion of the whole matter is that all three groups have money problems. The difference in the rich, middle, and poor class is their level of education and the actions they take to fix their problems. If you want to be financially rich, you must begin to think like the financially rich; that is to improve your financial IQ and knowledge.
The rich get richer is the way of the land because the rich get smarter. In times past education really decided your income, now you can get creative and make more than a Harvard grad. The same financial education can be obtained to allow you to join the new rich. It takes increasing financial IQ. The rich have professionals who help them, but more importantly they don’t solely rely on their professionals to save their financial problems. Instead, they roll up the sleeves, physically and mentally, and handle their financial problems themselves.
This creates the best financial education on the planet, experience from solving ones own problem. Think rich if you want to be rich, and in order to think rich, you have to educate yourself.