Money is one form of power, but financial education is more powerful. Money comes and go, but education on how money works give one power to build wealth.
The lack of financial capability can make it difficult to make financial and life decisions. Understanding your pay check and setting a budget plan are useful tools for understanding and improving your financial capability. Study hard, get good grades and secure a good job has been a common saying and advice even from our parents. Time has changed, getting a good education and making good grades no longer guarantee success.
Why don’t we live by different set of new rules and control our own destiny? Secure a job they say, but what happens when people get laid off? Families are hurt, unemployment goes. When stock goes up, owners and shareholders get richer while employees loose. Education is the foundation of success, financial and communication skills are vitally important.
The rich grow stronger and richer while the average and poor continue to struggle living from paycheck to paycheck. The rich develop the habit of exercising their brain while the other develop the habit of putting his brain to sleep. Financial self-reliance fight against the “entitlement” mentality. While others believe that the love of money is the root of all evil, some believe the lack of money is the root of all evil. Therefore, your perspective and thoughts influences your decisions.
You believe you love what you do and so you really don’t have to be rich. What happens when your paycheck settles bills and debts and you have nothing to show for that which you claim you love? Life is the best teacher of all, it does not talk to you but pushes you around with each push telling you to “Wake Up”.
Fear, desire and greed, create a pattern in one’s life. Fear of being without money motivates us to work hard, greed and desire brings the thought of all the wonderful things money can buy. The pattern of get up, go to work and pay bills is then set. Many are rich because of fear of not having money and this drive them to get more innovative ideas and become richer. So instead of reacting to their feelings, they think and recreate.
Most people fail to realize the importance of saving, the difference between asset and liability. In order to become rich, all you need to do is buy assets. One must be educated in both words and numbers and most revolve around the asset column.
Financial security revolves around minding your business. Keep your daytime job, start buying real assets, keep your expenses low, reduce your liability and build a base of solid assets. Each of us have financial genius within us waiting to be called upon.