What We Don't Know CAN Hurt Us
You may have heard that you need to work on your thinking patterns, and change your thoughts and actions to change your life. This is very true, but when it comes to finances, this improvement in mindset must to be backed up with a decent financial education.
What is your financial IQ? Were you taught the rules that the wealthy play by when you were young? Were you even taught the rules that 'normal' people should know so that they can take care of the money they earn, watch it create more money and sail slowly and steadily towards financial freedom?
My guess is NO - not just because you are reading this article, but because MOST of us were not. I certainly wasn't. I don't blame my parents or my teachers for this, however, because they were not taught.
Taking Back Our Power
Because of this gap in our knowledge of how to survive, it is wise to learn the basics of finance, along with the other aspects of developing a true prosperity mindset, although these basics are just the beginning of what can be a lifelong learning journey.
I have spent the recent years of my adult life gaining a financial education, and the more I learn the more I see there is plenty to learn. I do enjoy feeling more and more in control of my money, my time and my investments...and increasingly I see clearly that by being ignorant about how money really works we are dooming ourselves to poverty and fear our entire lives.
Knowledge - and knowledge applied - really is power, in this case. I, for one, will not live in fear and poverty ever again, because I am gaining knowledge - more knowledge than many 'financial advisors' who are taught to sell me a portfolio of diversified investments and who will make their fees whether I make any money or not.
I vow that my child will not live in fear or poverty either. She once had a teacher at school who was always telling her to sit down and be quiet and stop being original - he entirely missed her creativity, her amazing intelligence, and in the process stamped out her eagerness and enthusiasm. He admonished her when using a pen instead of a pencil, warning that when she grows up her boss will fire her for being unwilling to comply with simple instructions. Well, sir, I have NEWS for you: my child will never work in some cubicle with an overbearing boss that threatens her all the time. She's going to respect herself and her abilities far more than that, and moreover, she's got a Mom who is learning money lessons VERY well, and will teach them to her...thus she will be making more money than her teacher by the time she is out of high school and considering University or college.
'Spending' Your Time Wisely
In Donald Trump's latest book, co-authored with Rich Dad, Poor Dad's Robert Kiyosaki - 'Why We Want You To Be Rich' - he has a good point about time and money:
"If you saw time as money, would you be more careful with it? For example, if wasting 15 minutes of your time meant you would lose $500, would you be more aware of how those 15 minutes were spent?" He goes on to say "All the money in the world cannot replace time, so proceed accordingly."
Of course we have all thought about this abstractedly, but that question puts it in a way, for me, that sharply focuses my intentions and reminds me to spend my time efficiently...that means learning how to make, use and invest my money even more wisely so that I have even MORE TIME to spend doing what I choose.
The buck stops here. For those of us - that is most - who did not receive this important education at school or at home, it DOESN'T MATTER. You are all grown up now, and time is tickin'. Take control, and educate yourself. It's your money, and it's your life!