You are not broke; you just need financial education

Hi Lions 🦁
Hi Hivers 🐝

This is how I wish to begin— “A broke man comes from the state of the mind.” Yes! However, certain people have overcome that state of being broke, yet they feel less financially adequate. This can happen as a result of no proper financial education. Sharing this from experience and circumstances will make a lot of sense to you that are reading this—

source

Personally, I structure myself to stay around quality people who are ambitious and passionate for excellence in what they do; commonly, the careers most of my friends are into include – crypto trading, web development, data analysis, machine learning, and other tech-related skills. From this, you will know they are making good money because it is a problem-solving skill.

Despite this, most of them happen to lack money once we approach the end of a month; looking at the earnings, the money should last for over 3 months. Hmm, in Africa we say, 'big man, big problem,' but that is not the case here. One of the deficiencies is lack of financial education: how they manage their resources and even use them to open multiple streams of income.

When it comes to financial education, your tech skill is not what is needed; you can be working in one of the highest-paid companies and still use up money extravagantly without proper structure in place. No knowledge is a waste! Just to give some tips that will help manage your finances:

• Have a mentor:

This is someone who you are accountable to, loyal to, looked up to, and someone who inspires you; he or she may not necessarily be in the same field of study with you, but the person has a good knowledge about financial management. This will create a balance in your growth!

• Apply the 50-30-20 rule:

50% of your finances—to meet your needs
30% of your finances—for savings
20% of your finances—to meet your wants

Having this structure in place makes you financially intelligent. Ideally, it is best you plan how you want to spend your money before it arrives, or else you will be seen as a wasteful person.

• Read Books:

As you are growing skills, also grow in the knowledge of how to manage the resources that will come in from the skills you have learned. This is done by reading the right books from credible writers.

Conclusion

There are many more ways to live a financially free life; the point I am making here is this: financial intelligence is important in whatever skill you are learning.

THANK YOU FOR READING

Posted Using INLEO