Do you know the simple steps in financial literacy?
When you don't know what you don't know, getting started on a plan seems daunting.? But when you have knowledge and can break down the objective into steps, you can accomplish nearly anything.?
It's like that with achieving financial literacy. For many people, getting out of a difficult financial situation may seem impossible, but achieving financial stability is achievable once they do three things: 1) understand the financial reality, 2) set objectives for financial aspirations, 3) break down the ultimate objective down into simple achievable steps.?
Back in the day I recruited a lot of really bright young people. I always told them two things.? First, I let them know that clear, concise communication was the key to success in business, whether their aspiration was to build spreadsheets or to run a company.? As Jeremy Irons famously said in?Wall Street, "speak as you might to a young child, or a golden retriever".???
The second bit of wisdom I shared was, if you have a 401(k), save like it hurts, and max out your contribution rate.? The first paycheck will be unpleasant, but over time you'll learn to live within your means and you'll build financial independence.?
As a Wall Street veteran, business owner, mom, aunt and person of the world, I deeply believe in the power of financial independence and the freedom and self-respect it brings.? The first step to financial independence is financial literacy. That’s true for all of us. Taking time to help those you care about achieve knowledge is the best way to help them.?
Enjoy this?article, and as always if you have any questions or would like to know more, feel free to reach out to me.