Financial intelligence is one aspect of intelligence that deals with understanding money related principles in the business world. The sad part of the story is that the government rewards IQ better. So, they build schools and very little is done about educating the public about financial related stuff.
It’s also saddening that a lot of people are left to figure that out on their own, except, of course, you have amazing guys like us that care so much about you that we don’t want to see you struggle with money.
With a vast majority of the population struggling with money issues, that should teach us two big lessons;
- Not much work is done by people in educating themselves about money. A lot of people either don’t care, or are just ignorant.
- School is not everything! It may have its benefits, but the truth is that except you consciously begin to draw out an actionable financial plan for your future in terms of your finances, you will struggle with money – there are no two ways about it!
All these buttresses the fact that your financial intelligence is just as important, and should be taken really seriously, too.
Here are four great ways to grow your financial intelligence.
1. Books and Magazines
This is practically the best way to boost your financial intelligence. It teaches you topics ranging from how to get out of debt, to how to be financially free. Other categories of books like emotional intelligence, motivational, self-help, are just as relevant as business books. These are great books to start from;
- Rich Dad Poor Dad by Robert Kiyosaki (Personal Finance)
- The Richest Man in Babylon by George S. Clason (Personal Finance)
- E-myth by Michael E. Gerber (Business, Entrepreneurship)
- Emotional Intelligence: The New Rules by Dr Rob Yeung (Emotional Intelligence, Career)
And so many other books that would widen your scope and view about controlling money and not the other way around. The average entrepreneur reads at least 5 books a month. That’s absolutely okay to start.
There are a lot of websites you can read from time to time to grow your financial intelligence, and my favourite is Influentrepreneur. 😊
Read Entrepreneur, Forbes, and Inc regularly. These are websites I totally recommend to you today. Check them out and make it a habit to read a preferred select number of articles every day and see a huge difference you will experience in no time.
This is an amazing way to get out there and connect with other entrepreneurs and financially Intelligent people, and this has an incredible way of rubbing off on us when we’re exposed to it consistently, over a period of time. It’s great to read and do some personal stuff from time to time, but challenge yourself, attend a seminar and witness amazing people that you’d have a lot to learn from and would most definitely inspire you.
There are a lot of games that try as much as possible to simulate real-life experiences. These games were created by entrepreneurs who want to create awareness of the importance of our finances as well. Robert Kiyosaki, one of the leading business teachers of all-time reported games to have really taught him some valuable lessons that he didn’t learn in books. You could check out games like Monopoly, and Cashflow Quadrant. These are two games I absolutely recommend for you.
Growing your financial intelligence takes time, and takes a lot of work. But starting to work on it automatically takes you farther than a lot of people around you, and can prove significantly valuable in the long run.
What other ways do you think we missed out on? Let us discuss that in the comment section below.