A few words to start
When I say you deserve more, I want to make it clear this is not just about money. It’s about believing in yourself and truly believing you deserve good things in life as much as anyone else. Attitude towards money can affect so much of our life — including our jobs and the way we go after things in general.
I want you to really know in your heart that it’s a wonderful choice to open yourself up to attracting good things for yourself, including money — in case there is any part of you that harbors mixed feelings about actually having money. You might be surprised how many people feel that way.
But, of course, even though you deserve more, it takes more than just hope and positive visions to get yourself there. And yet some people use exactly that method to secure their financial future. But it also takes planning and a sound understanding of money and finance — even if those things feel foreign at first.
Financial literacy: Your money & finance IQ
The more you know, the more your money can grow. And the less someone can take advantage of you when it comes to money things. Although money itself can’t buy lasting happiness. your relationship to money can make a huge difference to your life and career. And later on retirement.
A good starting point for making friends with money & finance is how you feel about numbers. Do you like them? Avoid them? I know for some of you numbers make your eyes roll. But if you can get yourself more comfortable with numbers, so much of life opens up for you. And that includes the world of money.
I wrote this on my career site aimed at helping women feel more comfortable with numbers, but it applies to anyone. And offers some tips to help you get started. If numbers are turn-offs for you, reading this might open some interesting doors:
⇒ Is Fear of Numbers Hurting Your Career?
Some financial literacy basics
In order to get the most of your money — and make sure your money is working hard for you now and in the future — these are some basic areas worth educating yourself on. Hopefully greater financial literacy can help you save and invest more wisely — and open up new opportunities in life.
I’ll go into these areas more in future articles and add the links, but in the meantime you might want to explore any and all of these topics on your own in greater depth:
- Credit & Debt — What you owe to other people or institutions
Credit 101: How To Make Credit Work For You
- Investing
- Stocks — Shares of a company, both public & private
But the Stock Market is So Unreliable!
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- Bonds — Company debt held by others
- Mutual funds — Basket of investments to even out risk
Why Does My Mutual Fund Pay a Dividend?
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- Non-risk investments (like bank CDs & Treasury securities)
- Portfolio theory — Diversification of investments
- Banking — Savings banks vs credit unions
- Budgets — How to create your own personal budget
How To Create a Budget Plan Spreadsheet
- Cash flow — Money that comes in vs what goes out
How To Create a Cash Flow Spreadsheet
- Balance sheet — What you owe (liabilities). What you own / have in assets. Net worth (assets minus liabilities).
- Retirement accounts — Roth, IRAs , SEP IRAs 401(k), 403(b)
How Much Money Do You Need To Retire?
Browse more financial literacy articles
Finance Basics: Knowledge is Power!
Our attitudes toward money
A friend of mine recently told me he was raised to think that “money is the root of all evil.” And he thinks that particular childhood belief still lurks somewhere deep inside to this very day. Perhaps keeping him from pursuing his share of what’s rightfully out there waiting for any of us.
He also told me that a high school teacher we all admired took him aside after reading his essay on the topic, and gently explained that the actual biblical passage is “the love of money is the root of all evil” and not the money itself.
While I have no doubt that greed has done much harm to the world, personally I think it’s ok to at least like money — or like having enough of it available to you when needed. You deserve more. Time to truly believe it!
How to earn more money (more articles to come)
We should all have the problem of what to do with too much money. But most of us are still at the point where earning more would be a big plus. And remember … you deserve more!
We’re going to look at ways to increase what you earn where you are now and where you might like to be one day. One way to bring in extra money is freelancing:
♦ How To Earn Extra Money Freelancing
Possible topics for future posts as well as things to consider:
- Asking for a raise and / or promotion (until you get one)
- Getting a new job that pays more (even if it’s scary)
- Increasing your marketable skills within your own field
- Getting new skills (if needed) and changing your career completely
- Taking a transitional job (even if it pays less) to get you to that next level
- Finding part-time work or consulting
- Starting your own business
- Creating things you love that will one day also provide extra $$
Beware hidden costs
An old saying says just because someone smiles and shakes your hand, doesn’t mean they aren’t picking your pocket with their other hand. So what does that have to do with personal finance?
Small print — especially when calculated numbers are involved — is a lot like the hand you don’t see. Once again, your pocket gets picked, and more often than not you don’t know it.
That’s where knowledge comes in. It makes sure you see both hands AND your pocket all at the same time.
Please feel free to suggest an article you’d like to see!