Whats financial intelligence ?

Financial Inteligence

" Learning is like a cow of desire. It like her yields in all seasons like a mother , it feeds you on your journey. Therefore learning is hidden treasure. " Great Guru Chanakya.

So lets today learn what is financial intelligence and why its important for each individual.

Its very critical for all of us to consume ,save and invest so that we satisfy our unlimited human wants without good management of our finances"money".

Ignorance always make us to lack required knowledge on financial intelligence and this makes us to suffer a lot always but today i have your back on that so long us you accept to walk with me.

Today we will look at ; what is financial intelligence and why is it important to us ? 

What is financial intelligence ?

After this session you will be able to know i is it crucial to have knowledge and skills on how to manage your money always since its needed in everything you need.

Have you ever asked yourself why is that you may have a good plan when working but after earning you do not accomplish it even a quarter ? 

Today we be finding the solution to that and that is financial intelligence.

Financial intelligence is acquiring knowledge and skills on finance and accounting principles in business world and understanding how money is being managed properly

Even if you have done a lot of financial mistakes do not hesitate since financial intelligence is not innate skill rather its learned set of skills that can be developed at all levels and get back on your feet financially.

Here we will focus on three key elements ; 

   a)  Understanding foundation

    b) Understanding art of finance 

     c) Understanding financial analysis.

There is need to know this key elements by too much reading i want you to brainstorm on this;

   Why is it that we are told to go to school then after school look for job but not taught on how use the income we earn from the job ? ..

 

Okay most of the time we are just taught how to acquire skills and knowledge used in looking for money and not how to manage the outcomes thats money.

Meaning we are told just to be slaves to money and not on how  to work for us.

 

You will find somebody has higher level of education thats degree, masters or even degree when he/ she still is asking taking  okash or even branch loan of 500  its because of lack of financial intelligence.

 Always financial intelligence will enable us to know how to make money to work for us always .

Why is financial intelligence important ?

Financial intelligence enables us to have a better financial decision.

Good financial decisions will enable us to have knowledge and skills on how to spend ,budget, borrow , save and invest and this will lead to achieving our financial goals thus financial and economic stability.

The following are the 10 reasons to why we need financial intelligence knowledge.

1. It increases your wealth.

Financial intelligence enables you to have knowledge on cash flows.

Most of us we are concerned with how find money but not where the money goes.

If we have cashflows knowledge we will be able to know where money goes and be able to track it down if its wrong way or not thus being able to increase our wealth since its trackable.

2. How you relate to money

Most of us have that  in mind that money is source of evil, does not grow on trees you have to work for it and so many.

But we forget to know how do we really relate with it 

Good financial intelligence will help you know how use your money this will delete that theory of evil and do good things with money thus financial stability.

3. What is your knowledge about money is ?

Financial intelligence will enable you to know more a bout money and the rules of money.

Have you ever asked yourself why does rich becomes richer and poor remains poor? 

This is because the rich has good knowledge about rules of money always than the poor .

N/B ; this we will discuss in our next class keep locked always .

4.What you do with money

Financial intelligence knowledge will enable you to know what is liability and assets and this will help you a lot to move towards financial success and stability.

5. What is the best thing to invest in 

Most of us we want to in real assets , stocks , forex etc but we forget to invest in ourselves first.

Self investment with financial idea will help us a lot since we will be able to make right  decisions at the right position always .

This will make us not to do our financial decisions by emotional guidance but by rationing.

6. Control what you can

I know there is some scenarios that are out of your control in financial field such as inflation  but you have to what you can.

Lets for example you can control your investment behaviours , savings and borrowing .

Financial intelligence will help you to know that.

7. Hire financial intelligence people

This i know will not be favourable to someone starting the journey of financial stability but when you have established remember this point.

We will at it in details in another post.

8. Short term and long term goals 

Financial intelligence will enable you to come up with SMART goals both short and long  term.

9. Mingle more 

Financial intelligence is not taught in school and therefore you may achieve it through mingling with people in same field.

For example if you want to invest mingle with investors and you will gain a lot.

10. Blame game 

We normally like to blame others for our financial mistakes.

Financial intelligence will enable us to be strong to carry our own crosses of financial mistakes and will make us strong to accept and look for achievable solutions. 

Conclusion

Financial intelligence solves  our problems and not money and this will enable us to come up with better decisions in financials issues thus well management of our money in terms of saving,budgeting and investing this financial increase and stability.