Do you know you are in a better position if you are financially intelligent? Financial intelligence has a huge role to play in homes, relationships, businesses and even in a large economy, especially during recession. Increasing your financial IQ gives you reasonable edge over colleagues, friends and those around you. Increasing your financial IQ plays a vital role in helping you spend and manage money. Imagine getting a better knowledge on what you do with money and how you make more money.
According to Robert Kiyosaki, he firmly believes that the best investment one can ever make is in taking time to truly understand how one’s finances work. Here are few tips that could help you increase your financial IQ.
1. Read books.
There are many intelligent books online, in libraries, at bookstores, that could actually educate you on managing your finances when there is an economic recession. one wonderful author is Robert Kiyosaki. He is a good writer and he goes into practical details that could be helpful. Reading books and magazines opens your eyes and gives you an insight on techniques that help boost your financial IQ which could benefit your lives. Some of these books actually cost a lot, but they are usually worth it.
2. Change your mindset.
Often times, what you allow in your mind, head, hearts, forms a basic part of your life. Change your mind-set. Thinking for some people has made them where they are today. We see everything as impossible and this makes us restricted, unable to push ourselves beyond normal limit, thereby leaving us with a low financial IQ. The moment you change your mind-set towards success you start seeing things differently. Think smart, get smart, have a positive mind-set that it is possible and you are already making progress in your finances.
3. Invest in seminars and financial workshops.
For most people, they find it easier when they hear people talk to them. They prefer to stay in gatherings of intelligent financial experts, business tycoons, entrepreneurs and other financially inclined people. We prefer listening than actually reading from books or online. Do research on big companies that host financial seminars, this could be helpful in boosting your financial IQ and making you a better person especially when it comes to making some decisions. No knowledge is ever a waste, so take conscious efforts to invest in these seminars.
4. Be accountable.
Time is a precious commodity, once lost, it can’t be recovered. Be accountable on how you spend your time, what you do with your time and what you have been able to do. Spend your time wisely. Spend quality time discussing with financial experts and stock brokers. Watch T.V stations where financial issues are discussed. Be accountable when it comes to record keeping. Increasing your Financial IQ starts with keeping records of all the money the business spends (expenses) and all the money it earns (income). Don’t just spend without having an idea of the cash flow.
The essence of increasing your financial IQ can’t be over emphasized. It helps you keep up balance in your finances. Many things are essential to us, like what to buy with money, who to spend money for, next vacation trip, it is also important to get smart by looking for ways to increase your financial IQ.
Culled from Palmchat.