Who doesn’t like or want money?
After all, it’s what keeps the economies of the world and our daily lives moving.
Businesses want to generate revenues and turn a profit. People crave financial freedom to live life on their terms.
Yet, money is more than simply generating and spending it.
Money language is complex and requires the study of trends and insights, an understanding of financial statements and their application, and much more.
The lifeline of any business or household is cash flow. Dry that up and you neither have a business nor a household.
Understand the language of money and you’ll have set yourself apart from a majority of the world and in fact, can lead them on the path they ought to follow to not just survive, but thrive.
Financial literacy is the key to being successful in the modern world. It’s a collection of knowledge, skills, and the acumen to make decisions that are responsible and benefit not just yourself but others as well.
Language of money or financial literacy is no longer a choice, it’s a necessity.
An understanding of equity, stocks, bonds, cryptocurrencies, real estate, and other investment instruments is a must. The more you understand, the better off you are.
As we discussed in a previous episode titled “What Are Your Money Values?”, an understanding of leverage, debt, its good and bad aspects are vital to building wealth and influence.
Many consider the discussion of money and its applicability as a taboo subject. However, it doesn’t have to be.
Instead of associating it with fear and control, make the shift to associate it with freedom and pride. It’s a big responsibility to make money and further, to spend or invest it on the right things. It involves sacrifice, focus, and strategy around a plan that’s put together and executed.
As families, make the language of money a commonplace topic so you teach your little ones early on. It just makes sense to do so as their entire lifetimes will revolve around making, investing and spending it. Doesn’t it make sense to teach them the right habits, show them how to experiment, and learn when they are young? The sooner they learn to be comfortable and responsible around money, the better off they will be.
You may or may not be passionate about money, but it’s a vital subject that influences all aspects of your life. Neglect it and you would have neglected more than one area in your life.
Financial acumen takes time, effort, commitment, and discipline to build right. Focus on self-learning, and its application every chance you get.
Have a healthy relationship with money. Build and nurture it over time. Not only will this benefit you personally but also entire communities will benefit from your relationship with money.
The language of money is the most important in the world.
Every country speaks it and you should too. Understand this and you can interpret every conversation around business, politics, and more.
The language of money goes beyond its material nature and influences our emotional well-being as well.
Learn the language, and you can derive not just wealth, but greater happiness as well.