In the times when economies are crushing and inflation is the talk of our times one needs to be financially educated. Individuals all over the world are struggling with money management. Amazingly no school teaches it yet and no wonder students who did accounting are as broke or in debt as those who did sociology or microbiology!
Well luckily we have books and other resources to teach ourselves but majority will still remain with low Financial IQ even though they have a high IQ. Being smart is not about how much money you have but the lesson in the process of managing that. People with more money have more money problems and those with less have no money problems. One must not avoid money problems but face they as they are an opportunity for you to increase your financial IQ.
IQ not = Financial IQ
Why should you increase your financial IQ:
1. Make more money: I love this point as many a times we are told to cut down on what you spend, live below your means but no one ever tells you to find other new streams to increase your income.
2. Protect your money; Robert says their are a lot of people that take money from you like tax man, brokers, pension insurance
3. Budget for a surplus; this simply means you must pay yourself first before mortgage, car and bills because in that way you learn to prioritize on oneself through saving, tithing and investing.
