Financial IQ or financial intelligence is just one of the many intelligence that a person has to deal with. However, due to social factors and upbringing of most people, Financial IQ is often overlooked. In this article, I will tackle a few ways on how to increase your financial IQ.
Read Books – One of the fundamental ways of learning is to read books. Not only books but any educational materials you could read like magazines. It applies to your finances as it does for any other subjects. A good starting point to increase your financial knowledge is to read Rich Dad Poor Dad by Robert Kiyosaki which will teach you the basics of handling your money and the proper mindset to be financially free. Alternatively when you are someone who prefers to read from a computer or a smart phone, you can purchase today’s books in their PDF formats or if you’re not the book-reader type then you can purchase books in their audio format (also called audio books) so you can listen to the book even while you’re taking your dog for a walk.
Attend Seminars – Seminars are great ways to meet-up with like-minded individuals. People attending a seminar usually have the same goals as you do. This is a great way to boost your enthusiasm and gain new friends and get helpful tips about your finances. Some seminars may be, free while others require some fee, but you could always start with the free ones. Be wary of seminars that require you to join for a fee, unless he seminar has been previously attended by someone you really know and trust then I suggest doing more research on the organization that handles it.
Find Mentors – Nothing beats the lessons you will learn from real world experiences of a financial mentor. A mentor can teach you ways to achieve your financial goals and avoid financial mistakes that he has already gone through. You can start off finding mentors in your circle of friends or family and be sure that when you find a mentor, that person has actually proven something in life. A person with a good job and high salary does not necessarily justify that a person is good enough to be your mentor. Look at his lifestyle, find out as much as you can about a person before studying under him. Once you find one, be sure not to waste the energy that he is willing to allocate just to teach you.
When you start educating yourself about finances it’s not unusual to feel bad for sometime. Do not lose hope because for every problem, there is a solution. Correcting your personal finances is not an overnight process. It requires some maturity in your part and open-mindedness.
Ways to Increase Your Financial IQ
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