HOW WELL DO YOU KNOW MONEY?

Can it be true?

The global cost of financial illiteracy is in the tens of trillions of dollars. Why is the cost so high? Simply because very few people are financial literate. How can we know so little for something we work so hard for? Money. The money view of the great majority is wrong because it is acquired from the wrong sources with wrong information. Money is just a tool to do great things with so it makes a lot of sense to understand it and use it for our benefit and the benefit of those we care about.

1.       Money is a game. Know the game, the defense, the offense, and the rules of the game. Most don’t know how to play the game and the few that do don’t play it. How can we win a game we don’t know how to play and don’t know the rules of the game?

2.       The monetary system. The monetary system is at the center of all finances. The whole system is based on debt (government, businesses, personal). It is a system that it is tilted against the people for the benefit of the financial institutions. How can we win in a system where one third of our gross income goes to taxes, one third to service debt, and the last third to live on?

3.       Money education. Money education is absent in our school system and in our homes. Our money education comes from the financial systems institutions and the company marketing; and all of them don’t have interest in truly educating us about money. Why aren’t we educating ourselves about money?

4.       Money tracking. The great majority of people pay little attention to the flow of money in their lives. Without a financial plan, a budget/cash flow, income and expense tracking, and debt pay off plan it is nearly impossible to win the money game. Why not track something we allocate so much time to acquire?

5.       Money problems. Most people think that their financial problems are gone once they make more money. The lack of money is not the problem, lack of money education is the problem. Why not acquire the proper money thinking?

6.       Money assets. Most people accumulate financial liabilities instead of financial assets. Most people focus on expenses instead of investments. Without proper understanding of money, we easily become an asset on someone else’s balance sheet and a liability to ourselves. Why not accumulate assets by making the right investments instead of accumulating liabilities by excessive spending?

7.       Money blessings. The blessings of money are many when we understand that money is a tool and a blessing for us to live our purpose and bless the lives of others. Why knot be a creative giver by sharing your blessings with others?

The understanding of money is important if we want to be financial secure or financially free. In order to do that we must think long-term, delay gratification, and leverage the power of compounding.

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Be blessed and be a blessing to others

Carlos Fontana

Financial Coach

Get out of debt, make more money, pay less taxes

"Those that take swift action will always leave those that don't breathing the dust"

"The future belongs to those who can see and pursue opportunities before they are obvious"

“Managers influence numbers, leaders influence people by inspiring them to pursue excellence”