“Financial Insecurity.” Don’t worry, it’s not a communicable disease!
Are there parts of your life you feel insecure about as far as money goes?
Do you not know much about shares? Do you find it hard to understand taxes? Do personal insurances like Income Protection and Life insurance confuse you? Does the acronym ETF mean anything to you? How much do your Superannuation savings interest you?
The world of finance can be pretty complicated and our education system certainly doesn’t help us get our head around what’s out there.
Which in turn begs the question: If you want to learn more, do you know someone who can help you?
You might notice that one of the habits of people who are good with money (or anything for that matter) is that they aren’t afraid to ask for help. They know what they know and they know what they don’t. And that’s a gift!
There’s no need to have any shame when it comes to not knowing all there is to know about money. You aren’t supposed to ‘just know’ how managed funds work, what shares to invest in, when term deposits are the best choice, or what types of investment products exist… including those mysterious ETF’s!
Do you try and conceal some issues around money that you feel you should know? Would you like to build up your knowledge repertoire when it comes to money? Who do you know who could help you? (This post is starting to sound a lot like 20 questions isn’t it??)
What is reassuring, it that you can build up your confidence as far as questions about money go.
These days, there’s online free courses. Check out the ASX website. Ask friends who you believe are savvy with money, or even chat with a financial adviser about what you’d like to learn. Chances are they can recommend some good reading material for you to start with. Even the ATO and YouTube have educational information and videos that you can use to start building up your knowledge base.
I’d love to hear what you’ve done to up-skill when it comes to your financial situation.