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The Tenets Of Financial Literacy

Wed, 25 May 2011 23:49:16 +0100

At the turn of the millennium, more people are starting to realize that the world is wealthy. The power of today’s system allows one to find ways to achieve financial freedom without the critical essence of hard work. With smart work, there is a different sense and approach to life.

Sadly, the current educational system is left with classical teaching. Most of the things that we learn in college refine us to work hard and work for money. With the number of new degrees and graduates cropping up, most of them still get stuck with 20th century thinking. Thus, people who seek financial literacy in the 21st century know what the trends are and act on it with a positive mindset.

The Scope of Literacy and Financial Literacy

As a standard, literacy is defined as the ability to read and write. Taking a step further, functional literacy is the term used to describe students with the ability to use their reading and writing abilities in a functional way. As a basic concept, literacy is learning what everyone should learn.

Financial literacy is therefore the ability of people to acquire knowledge when it comes to basic financial strategies and information. A good 90% of investors will tell you that they wish they knew more about the intricacies of finances and investments. Financial literacy is not so common after all. With 21st century education, financial reading and financial writing can be used to achieve financial freedom. Financial literacy should not be a far flung concept for people at this age.

In his best selling book “What I Didn’t Learn in School but I Wish I Had”, author Jamie McIntyre talks about the relevance of financial literacy and 21st century education. From the title of his book, he openly tells us that we are not learning what could have been general information for success. The traditional view forces most people to follow a structure and be included in a system where the haves control the world and the have-nots pay the bills.

Being financially literate means knowing the different pitfalls and mistakes of the traditional mindset. As a self-made millionaire, Jamie McIntyre communicates that being a financial success is doing the opposite of what other have been doing for so long. By being financially literate, we can find reasons why people fail and find ways to avoid these reasons.

Financial literacy transcends the basic read-write philosophy. By having a different approach or perspective to one’s life, financial literacy can be applied to develop different financial strategies with the hope of achieving financial freedom. By learning the tenets of a millionaire’s mindset, Jamie McIntyre promises that being financially successful is indeed possible.

The millionaire’s mindset is a paradigm change in the way people think. Being a student of financial literacy will tell us the value and the right attitude towards money. As a philosophy, we can approach different aspects of our lives and see things differently. The change in perspective will allow us to be more effective and influential individuals because of our personal success.

The relevance of financial literacy cannot be understated during these times. The message is clear: financial freedom is a shift and freedom knows no limitations. Success should not be governed by your talents, skills, or luck. A positive mindset is the mind of people willing to act. Being financially literate will teach us to find opportunities in risks and courage in hesitations. Jamie McIntyre and his 21st Century Education is indeed the key to financial literacy.

To learn more about the relevance of financial literacy, subscribe to the courses and e-books at Wealth Creation Academy. The collection includes a free educational DVD and other materials to reach your financial potential.

financial advisors in Connecticut

financial planners in Connecticut

Wealth Management And Wealth Attraction

Wed, 25 May 2011 23:49:00 +0100

When talking about possession, a person unconsciously refers to wealth. But depending upon its use, wealth can be defined in different ways. Basically, it can be classified into financial and non-financial.

Financial Wealth

In the economic world, wealth is defined owning items which have economic values. Example of having financial wealth is the accumulation of things like real estate, money and jewelries. There are reasons why people try to have financial wealth. The most common reason is security.

People with financial wealth also believe that having them brings power, respect and recognition. Depending on where you live, the amount of financial wealth you have accumulated will be relative. Wealthy individuals living in third world countries would be considered average in countries like the United Kingdom and United States.

Non-financial Wealth

While other people are occupied with the accumulation of material wealth, other people believe that true wealth is not something that has economic value. Faith, love and peace of mind are just some of the examples of non-financial wealth that some people strive hard to have in their life. The reasoning behind is simple. Even with all the material wealth in the world, a person would never feel truly complete or secured without non-financial wealth.

In recent years, society has finally looked at non-financial wealth as equally important as financial wealth. Ironically, some people need to spend money just to obtain non-financial wealth. They enroll in yoga or meditation classes to have peace of mind, donate huge amounts of money to participate in religious activities and even buy their loved ones expensive gifts to show their love and appreciation.

It is therefore obvious that people have integrated these two types of wealth to define the true meaning of the word. To achieve or create financial and non-financial wealth, here are some of the most common practices.

To achieve financial wealth, you can harvest natural resources and/or develop or change a material thing thru skills and knowledge application. Another way to create wealth is by improving methods in production, effectively creating wealth faster. You can decide to set a limit to your accumulation of financial wealth depending on your need for security. On the other hand, non-financial wealth can be achieved or created by analyzing your needs and priorities.

You can only achieve peace of mind if you know what you want in life. Since non-financial wealth is not quantifiable, it is difficult to realize whether or not you have enough of it in your life.

financial advisors in Connecticut

financial planners in Connecticut

Reasons For Financial Problems

Wed, 25 May 2011 23:48:48 +0100

Most of us know when we hit a financial disaster, usually we can even trace the beginning of the process that led to the financial failure, but the problem seems to be the fact that some people keep repeating the mistakes, or adapting new problematic methods of trying and solving problems.

The wise financial planner would first consider his own strong and weak points before making financial decisions and would draw conclusions for the experiences he had in the past, the few points that ultimately lead to financial disasters that I will discuss here are very basic and natural, yet many people do not practice the least amount of caution when making plans.

The first and most prominent problem with bad financial planning is that the planner has no financial education, in this case I would strongly advise seeking professional help. Most of do not have formal financial education, and many of us do not understand the financial basics that rule the markets, other do not want to go into these calculations, but all these groups should start by admitting that they do not have the knowledge of dealing with financial planning and look for someone who does. The great benefit of listening to advise of experts is that it teaches you things, the approach to financial planning, the basics of a new financial plan and much more, it is very possible that in a few months you will be much more educated and better informed in a way that will allow you to start making your own calls.

The second problem is making decisions and planes letting other people manage you finance for you, and I don’t mean letting you professional financial planner but friends, neighbors and family. Even though these people have the best intentions, it is very clearly your own responsibility to take care of your personal finance, and as much as it is unpleasant to make financial plans and take care of your personal finance it is a fact of life you must practice.

The third, and last mistake we are going to discuss is choosing the wrong kind of financial advisor, some people are tempted to let the wrong kind of people manage their finance situation, this includes insurance experts, tax experts and other financial experts of all sorts. It is important that you find a person that you have good communication with , that understands you and what financial help you are seeking, and that this expert be an expert on the issues you need help the most, do not let personal relationships, family connections and business relation dictate the financial expert you use, it is of extreme importance that this person is as close to being perfect for you as possible. The best thing to do is to look for a person that works in a financial office and makes his money by advising and managing personal financial accounts, someone that has been around for long and that will have the experience to guide you through the processes.

financial advisors in Connecticut

financial planners in Connecticut

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﻿The Tenets Of Financial Literacy

﻿Wealth Management And Wealth Attraction

﻿Reasons For Financial Problems

The Tenets Of Financial Literacy

Wealth Management And Wealth Attraction

Reasons For Financial Problems