Financial Intelligence for You and Your Kids

What makes the rich become richer, the middle income stuck in that category & the poor struggling to get out of being “poor”?

Luck? Maybe….but it is partly due to Financial Intelligence.

You may be the smartest in your class but the average student who has a better financial knowledge will be richer than you when you compete in the real world out there.

Read On

Financial Education & Knowledge Never Thought in Schools

Our school system does a good job in teaching us math, writing and reading, but they do awful preparing people to work with money. Most people who graduate in the school system are financially uneducated. If you have plenty, should have a high level of financial The good news is that you can learn financial education. It takes effort, much study, and controlled testing of trial and error. But the result is worth the effort.

1. The Difference Between Assets & Liabilities

Many people assume that know what an asset is.

For example: you probably think your house is an asset but it is not. Actually there are basically two definitions for an asset. A definition used by some accountants, which requires a lot of understanding complex accounting terms. Then uses this definition produces financial statements of individuals or companies that reflect something better than it actually is. 

Instead, the rich use another definition much more practical and simple. 

"Assets are things that put money in your pocket and 

Liabilities are things that take money out of your pocket."

10 Simple Saving Money Lessons for Kids

Good financial habits should begin encouraged from age, so that kids get used to manage their money properly.

These financial foundations will help them maintain a good relationship with your wallet as they grow up.

Once you’ve decided to talk with your kids about personal finance questions immediately arise:

How should I do? And where do I start?

1.               You have to teach them the difference between needs and wants, and establish boundaries between what we really need and what they want to buy.

2.               You know the value and the price of things. For example, in the supermarket is appropriate to give examples and purchase prices and margins savings to buy a product.

3.               If you usually give your children money weekly share with them ideas to learn how to save it and manage it.