Financial literacy is a subject we are not taught in any school or financial institution. It is something unconsciously learned by children from their parents or family. This is one of the reasons, the rich grow richer and the poor grow poorer. Because the upcoming generation learns from their parents about money making, shares, and investment, and they even copy the attitude of their parents towards money and share the same relationship.
Ken Honda, called the money panda of Japan is renowned for his ‘Money EQ’ concept. As per him, most of the population is aware of Money IQ but Money EQ is alien to us. Money EQ stands for Money Emotional Intelligence. The reality is most of us think more money would solve our money-related issues. But instead, the more money the bigger the money problem. We need to work on our Money IQ and improve our Money EQ, so the money will not slip as it comes and we are not found scrounging as ever.
As per Marisa Peer, even before we lay our hands on money we should cultivate a millionaire mindset. Creating a millionaire mindset will include letting go of all past bad experiences dealing with money. She is a Rapid Transformational Therapy Trainer who has worked with many multi-billionaires before and after. And as per her experience, most of the time, it is not the world that is holding us back from earning more money but rather our past traumas.
Financial Literacy means learning about money and learning to make money work for you. That can be done by investing in assets rather than buying liabilities. Buying assets means investing in something that in the future will generate income on its own with little engagement.
As per spirituality, the best way to solve money matters is by spending 10% of your income on charity, tithes, parents, and teachers, the next 60% of your income on monthly expenses and the rest 40% on saving or a good investment plan.
Stay with
Prerna 🙂
