Become Financially Literate by Learning These 4 Things

How financially literate would you consider yourself?

If you want to become financially free and never depend on a company or job you despise, a spouse that holds leverage over you to provide support or a hand out from someone….

Your journey starts by becoming financially literate.

Luckily, it is easier than ever before to become financially literate. There is so much free or affordable information being shared online.

Yet, you aren’t any more financially literate than you parents.

Why is this?

Your Negative Beliefs About Money Hold You Back

You live in a society filled with many limiting beliefs about money. Ideas like ‘money noh grow pan tree’, ‘debt is bad’ or ‘money mek yuh evil’ are drilled into you from a young age.

These ideas instill a belief that money is scarce and hard to get. It promotes the idea that making money is almost impossible. It discourages you from ever pursuing finances beyond your day job.

Beliefs like ‘debt is bad’ discourages you from learning how to use debt to your advantage. It makes you shy away from using debt to build wealth.

You constantly hear people talk about rich people being evil. So, you unconsciously stay away from money because you are scared that it will make you evil too.

These are just a few of the negative beliefs we have about money. Can you think about more that you may have?

Becoming Financially Literate is a Step Out of Your Comfort Zone

Going against what society has told you since day one is hard. Accepting that the ideas you have been fed all your life is wrong takes a lot of courage.

Believing that money is not scarce requires a complete shift in your mindset. It requires thinking, talking and acting differently.

Many people don’t have what it takes to rewire their brain, words and actions. Society has taught you that having fun today, going out with friends, enjoying your life etc. is what makes life good. Yet, don’t you feel like there is more to it?

To find more, you need to do something different. Change your mindset. Change your actions. Change where you spend your time, and the things you indulge in.

And although you can say yes, and yes as you read, do you have the courage to step out of your comfort zone and do something different?

If you want to become financially literate, you need to make sure that you spend time learning about the following principles. Break the negative beliefs you have about money.

Then step out of your comfort zone and apply them to your life.

The challenge:

Look at the 4 things you need to learn below. Choose one.

Spend an hour a day this next week learning as much as you can about it. Watch youtube videos. Read blogs, books and everything in between. Find accounts on tiktok that teach you about these things. Then apply action.

Learn About Investing

Investing is probably a scary word for you. Maybe you feel like you aren’t good enough at math. Or the lingo used is not easy for you to understand. Maybe you are a bit self conscious about being a beginner.

The thing with investing is, you need to look at all the possible options that exist. Stocks, bonds, real estate, crypto, and so many more. Find one that interests you, and study it. Read books, watch videos, ask questions.

Find an expert in the field, and pick their brains at it. Then, start developing your strategy and get it into action.

It’s only by educating yourself and applying the knowledge that you acquired that you will really understand what is needed for the area you choose. After you have mastered that area, you can start to branch out and diversify.

Remember, it’s important to never invest in something that you don’t know or understand. This is the fastest and surest way for you to become stressed, lose all your money, and put yourself in a worse situation than before.

Invest in yourself

The number one investment that you can make is in yourself. Educate yourself. Train yourself to become disciplined.

Push yourself out of your comfort zone. Learn about investing. Develop skills to help you grow your wealth. You are the ultimate investment that you can make.

Learn About The Power of Debt

Debt is a powerful tool. But like with all things of great power, it can also be very deadly.

See rich people use a lot of debt. The difference between them and you is that they don’t buy things they can’t afford with debt. They don’t buy cars, or pay for vacations by borrowing money.

Debt for them is a tool used to pay for something that will give them more money. They invest, buy businesses, acquire assets that appreciate in value whenever they access debt.

They don’t borrow, and then have to work everyday to pay back what was borrowed.

No. They borrow and use the money to pay for something that will pay it back itself.

So learn about debt. Learn when to use it and how to use it. Learn the rules that differentiate between real assets and liabilities.

Develop a Rich Mindset

Mindsets are important things that determine the actions you take. This is why it is important to take a step back, and look at the mindset you have around money.

Do you have all those limiting beliefs buried inside you that you don’t even realize it’s what has been holding you back?

You need to get rid of it. Start thinking like a rich person.

Rich people think about ways to make money, instead of how to spend money.

They walk into a room, and try to find the opportunities there. Remember where the poor see problems, the rich see opportunities. They see opportunities to solve the problems and bring value to people. That’s what people pay for.

Find a rich person to inspire you. Ask them questions. You may find that they are very willing to share their ideas with you. Besides, you should learn how the rich think, from the rich.

You wouldn’t trust someone who doesn’t know how to ride a bike to teach you how to ride one right? So why trust a poor person to tell you how the rich think?

Look for rich people around you, and ask for nothing more than them answering your questions. Be curious, and you will be surprised about how much you can learn from them.

Develop Skills to Acquire Assets

High value skills are more important today than ever before. With the global economy, it’s so easy to network and connect with people all over the word.

When you spend time developing skills such as sales, copywriting, coding, video creation, photography and so on, put yourself in a position where you can bring value to people.

When you bring value to people, they will be willing to pay you for those skills. They will look for you, and tell others about the value that you bring.

Remember that the best investment that you can make is in yourself.

So learn these four things. Go out and look for the information. Remember, you are living in a time when accessing this information is easier than ever before. You just have to want it really bad and be willing to do the work for it.

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