Episode 400: Word of the Week: Financial IQ

June 3, 2016

It’s Friday and time for the Word of the Week! Our word this week is financial IQ.

I chose financial IQ because I was recently quoted in Essence Magazine and the topic was why you need a financial planner. As women and men too, we have a tendency to believe that managing your money is a bit of a no-brainer – that anyone can do  — that we are born with that knowledge.

It’s true that some people do have an affinity for it and they but a lot of people don’t and they struggle often in silence because they don’t want anyone to know what they don’t know.

The good news is that unlike your mental IQ, you can increase financial IQ and your can do so with just a little education and practice. So where’s a good place to get that education? Well, start where you feel comfortable, read a book like Minding Your Money, attend a seminar or webinar, talk to your money savvy friends and talk to a financial planner. Then put what you learn into practice. Once you start to implement some of the things you learn, you will quickly find out what information you’re missing. Educating yourself about money is really an ongoing process because things are always changing.

Our word of the week financial IQ. Your financial IQ to date is the result of all of the things you have learned up to this point. If you don’t like where you are, change it! There are so many resources available that there are no longer any excuses – and if you have money smarts – don’t keep it to yourself — share your wealth of knowledge and that will make you even smarter!

And, that’s the minute for today. I love helping people with all aspects of their financial lives. If you have a question, send it to me at info@mindingyourmoneyminute.com.

Thanks for listening and as always remember that minding your money really is the path to a richer life!

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