Why to raise the 'FINANCIAL INTELIGENCE' ?

MONEY SAVED IS MONEY YARNED

'Money Saved is Money Yarned' is very simple truth.here i would like to share my wisdom that i have learned over years after spending too much and realised recently what a fool i was...

In all my workshops, i used insist my participant only one thing , i.e.-Raise the Individual's 'Financial Quotient'-FQ.
.
Why to raise the 'FINANCIAL INTELIGENCE' ?
if the individuals are aware about this they can be free from all debt that burdens the family and their society or the nation.
.
The recession and other major financial debt burden that shook the world recently can be simply eradicated, if we all take/initiate an effort to educate the FQ among every individual including children. In my personal view, our educational system must incorporat the financial intelligence as part of the curriculam.

Our children/students need to learn this,that will enhance a better society which is free from the debt burden/recession and finacial crisis in micro and macro level.Educate your child as much as you can about FQ. So that, it will make them to minimise their expanses and they also realise the hardwork involved behind that money.
for e.g -

• if your child ask New Pencil often... Do not simply buy an give it- Ask the old pencil,even it is very small and un-usable no problem , just collect the old one and give a new pencil.This will make your child not only financially inteligent but also as a responsible person.
• Do not encourage them to eat more chocolates,kurekure and of that kind.it may spoil your child health and memory.

Lack of FQ Will make the individual and society sick.if one is weak financially just by his/her own inefficiency that is not only going affect that individual/person , it will affect the family and the overall society as well . (I Remember the frog storey)...
.
Why socialism in our world that failed was also because of the lacked financial intelligence of individuals during those time.These individuals who were part and collectively made a society that failed. Here 'The rich will become poorer; and the poorer become more poorer' Logically it is incorect.if the society need to be raised/uplifted,it is very much indeed to raise the 'FQ' among every individuals who is going make the society as whole ' rich and wealthy' . if this is achived than the situation is like - 'The rich will become more Richer and the poor will become Richer' it is logically a correct solution.
.
wealth can be created if one is aware and keen in attaining it.Your passion to be rich will make you rich. This is what my policy is.

' Do not catch and feed the fish to sombody;
instead teach some one HOW TO CATCH THE FISH ON THEIR OWN'

Here are the few steps , that nourishes your financial intelligence.

a. At first, Define your 'NEEDS and WANTS' . Spend within your limits.'Your expenditure must be less than your income'.[Thumb Rule]

b. Avoid Overspending and 'Pay yourself first' Atleast every month save little money of your yarnings for your ownself. e.g.- 5% to 10% of your income.

c. Carry a pocket notebook with you every where. just write down all your out flow money when ever possible.At night, spend few minutes to look out your spending...do a total spending of that particular day.Now, just make a strike mark of the unwanted spend-OUT's as per your heart and total the unwanted. just notice and be aware. ' Each penny counts '

d.Identify your money out-flow that is going for no use. for e.g.- i used to drink more tea as and when i wanted 'even i used to take tea after a meal ' which is not necessary,not only that it spoil my health. 'Underline your your unwanted-wants! '

e.when you are going out with friends be watchful about your un-necessary spending . i did'nt mean to be stingy .You can always 'spend for the need'.
e.g. - When we go to hotel we simply order many items in the menu.Afterwards... unable to consume the whole food and simply waste it. [ Do not waste food.Many people in the world die out of hunger]

f.Always save money for the future needs and for your children educational needs and medical attention.Always keep some money for emergency for the unexpected.(if you have more children have more money for emergency) 'Safety first'

g.Have a finacial forecast for daily,monthly and yearly basis. ' forsee the future '

h.Do not make any hurry burry decision as far as your money is concerned. 'Be Affirmative unto your self ' be in your balance in all situations that may insist you to make wrong financial decisions. e.g.- Investing money for unusual intrest in private fund agency or such..

i.Do not invest money ever in a single source.spilit it up your investments in fixed deposit,gold, land,stocks,etc. 'Personal portfolio is the best'

j.Avoid credit cards, if you don't know how to use it for your favour. ' Check your own credibility ' .

k.Avoid / Do not encourage friends to ask money as a loan. 'Learn how to say NO'

l.Do not avail loan for your wants, just because it is easily available. ' Un-Burden youself and be free from Debt '

m.Invest your money wisely,i mean your investments must make an additional source of income on monthly basis.'MONEY MAKES MONEY'

n.if you are using car/bike plan your travel properly.Do not go round and around,have route map to attain your destiny point as shortly as possible,that save fuel.Go by walk when you are going to near by shoping. 'Save Time and energy '

o.Have your own garden and do vegitation. if you have enough land around the house. 'Go green,support corbon credit'

p.SAVE - Water and Electricity as much as you can.
e.g.- ' SWITCH OFF ' The Monitor/Fan/Light When your are moving out of the room even for 10 minutes.You can save electricity by not using the electric heater for heating the water for bathing during summer time. ' Consume less energy Resources' .

q.Avoid Drinking/Smoking etc... to save money as well as to keep yourself healthy.'HEALTH IS WEALTH' .

r.Save money and also spend money for lifting the under-priviliged. Do charity and always be socially responsible.When you spend money for the good cause that for your society that will motivate you to make more money. 'MONEY SPEND IS MONEY YARNED' .

Note-*The Bold and Italic quotes within the 'Quotation' will be explained in detail latter on.*

To Learn more on ' FINANCIAL INTELIGENCE- go to my other blog -http://wealthtrainer.blogspot.com/