Dec 31 2008
The Significance of Increasing Your Financial Intelligence
Pay attention to your financial intelligence.
Having good financial IQ doesn’t have anything to do with frugality or investing in some nutty commodities course. It’s developing a working affiliation with money and creating asset centers that will generate money for you.
How can you become savvy about money?
Controlling your impulses is a major component of increasing your financial IQ.
Regardless of whether you generate your income with affiliate based niche marketing, real estate deals, forex trading, or some form of arbitrage your chance of accomplishing what you want is based on your financial education.
Take this as a hypothetical example.
Would you spend cash on a gallon of milk or a cow?
If you spend cash on milk, it is used and it is done. You’ll have to buy milk over and over again when it is finished. Even if the milk is priced less than a cow, in the long run, you would still be spending your money on milk repeatedly.
However, if a cow were to cost 50 times greater than milk, you might pay through your nose when you order the cow, but after consuming all the milk from the cow, you would be at break even on on your investment and have more money at a later date. In fact, that cow might birth 2 more calves and you could sell one calf for additional profit!
Do you get it?
All people able to generate major profits. When you take a beat up old truck and give it an overhaul, tidy it up, and change out parts to make it run, you could sell that thing for more income than if it was just a beat up old jalopy. You’d have created real wealth by using your financial intelligence.