5 Ways to Increase your Financial IQ

This is definitely one of the most important topics to discuss In this day and age but sadly it probably was vaguely or never taught in school as you were growing up. That’s why I chose this topic for this week, I had to write about it at some point! It sucks to be ignorant about money because it practically determines your quality of life as you move forward. If you’re dumb with how you get and utilize it, say your money has control over you instead of you controlling your money, then you will find yourself living a very stressful life. I want you to have more flexibility and insight with your financial endeavors so that you can maximize your money to the fullest. Increasing your financial IQ and staying educated is the way to go to achieve this.

Let’s quickly define Financial IQ first, like what the heck does it even mean? Take a second to remind yourself that IQ is the measure of an individual’s intelligence so financial IQ is simply a measure of someone’s financial smarts (well Duh that’s easy). In order to get money to work in your favor, you must continue to gain and have financial knowledge. This means lifelong learning in whichever ways you can find that work for you. Here are 5 ways to increase your financial IQ.


  1. Read, Read, and more Reading


Sounds cliche but seriously this is one of the surest ways that you will increase your financial IQ, I mean how else are you going to know the difference between an asset and a liability? I challenge you to pass by the library by the end of this week and instead of picking up a manga book (my personal weakness) or a romantic Sci-fi fiction type book (kind of funky but would make a great story line), pick up a book on finances. Find something that you’re genuinely interested in learning more about and make a goal to have it read within a set period of time. Afterwards, write a reflective journal on it and have a section discussing material you learned that you didn’t know before and can now teach someone else about. Take a snap of your journal entry (doesn’t have to be long) and post it in the comments section below, I really want to know what you’re interested in learning so if you could take some time to do this, that would be awesome and much appreciated! I recommend any of Robert Kiyosaki’s books to start for your financial learning journey.


  1. Learn about your Money Habits

If you know why you make the financial choices you do then you can determine what you might want to change in your life and get educated on. This will increase your money IQ by increasing your insight and awareness. Your personality affects your saving and spending habits, you need to know whether you are a saver or a spender so you can look into changing your habits and utilize your money to work for you.  Habits are created through consistent practice; doing the same thing over and over till its second nature. Financial habits are hard to break because they’re so engraved into us and many times even started at a young age, with your parent’s lack of knowledge on handling money. If you can recognize your habits and look into changing them for the better, you will start to see fruit in your finances and you will develop an open mind with learning and dealing with money.


  1. Listen to Audio Tapes and Podcasts 

Get into the habit of listening to audiotapes and podcasts whenever you can. This can be done on the go or while your hands are occupied. One of the best places to listen to an audio is in your car! It’s perfect because you’re already committed to sitting down, and as you go you can get that last chapter or two in without breaking a sweat. It’s a classroom on wheels and it’s a great way to complete a book or tape in a short amount of time. Actually this is something I learned from observing my mom who started off with minimal knowledge in finances. She always had an appetite to grow and expand in her financial IQ and she managed to do this by listening to tons of audiotapes for free borrowed through her public library. Fast forward to present day and she’s doing alright, owning real estate property as a business and getting called to give financial speeches to women, people of color and the general population in and around her community. She also has access to investment groups who combine large sums of money (like talking 6 or more digits each) in order to invest in real estate and other projects. Its pretty cool what a little investment like listening to audio tapes and podcasts can earn you later on in life! Thanks mom <3.


Ps. Find out what channel Dave Ramsey plays on your radio, listening to him can really boost your financial intellect and get you going with better habits in handling your money. He has a system in place which he created called financial peace university which follows a series of steps to get out of debt and be financially free.


  1. Attend Seminars, Webinars & Workshops

Attending seminars, webinars and workshops is not only educational but also places you in an environment of people with similar interests. This can be very encouraging in itself because in it you may be able to meet people who are in similar financial situations or have similar financial goals. A group of like-minded people creates synergy which motivates individuals to take action and make changes in their lives. Webinars are groups that meet online to discuss a topic. They’re convenient because you don’t have to leave your house, just need a decent laptop and… Voila! Alternatively there are Seminars and workshops which generally provide information that is, in my personal experience, interesting and inclusive of the people attending. The speakers usually find captivating ways to catch the audience’s attention by playing games and/or having small group discussions, so it leaves a good impact on a person once it’s done. To find some local group meetings just search up group meetings in your city and choose from the variety that’s available, if you click on a link it should take you to the description, location and meeting times for that group.


  1. Ask the Gurus

The more you educate yourself in finances, the more you have questions on it; the more questions you have, the more you will yearn for education, and the cycle continues. Education and the curiosity to ask questions go hand in hand. If you’re really serious about growing in your financial smarts then talking and being mentored by people who are where you want to be can be beneficial. Talking to stock brokers, real estate agents, investment advisers, personal finance advisers, etc. can help you boost your financial intellect and improve your habits in how you use your money.


That’s it! Thank you for taking the time to read this weeks blog! Thanks ahead to those who attempt the challenge discussed earlier in this post which was about writing a journal and taking a snap of it to post in the comments section. typing in your phone is fine too, then you can just take a screen shot after and post it in the comments section below. Next week I will be discussing part 2 of this post which will be on ways to set yourself up for financial success! We covered the education part (what) so next week we gotta cover the application part (how) as well. See you in my next weeks post! ❤


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