Financial Literacy Is A Lot Like Playing Chess

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See Also: Financial Trauma Is Real: Why Black People Should Consider Financial Therapy

Happy Financial Literacy Month!

Financial literacy month is always important to me because it underscores and celebrates the foundation of the work I've been doing. I use to say that I wasn't taught about money growing up but I've learned over time that we all are taught about money through what we hear, what we're told, and what we see our parents and role models do with money while we're growing up.

Some might even argue that in some instances we were taught the wrong things about money without taking into account that what is wrong in hindsight was right in the moment which begs the question, is there a right way to do finance?

Openings In Chess

When I was a child my grandfather taught me how to play chess. He would emphasize the importance of learning how to play and that I take what I learn about playing chess "off the board". Anytime I demonstrated some thought out strategy he would commend me or chastise me for trying to "play chess" with him to get what I want. Although he taught me what the pieces were, how they moved, and even to think ahead and anticipate my opponents next move, he never taught me the technical openings, 4 move checkmate, or similar text book strategies you'd learn formally. Just that;

• these were the pieces,
• this is how they move,
• and to think ahead.

Throughout my childhood I'd play with unfamiliar opponents who were often caught off guard by my unorthodox playing style which many times worked in my favor. Those opponents were so focused on the textbook openings and the anticipated responses that my coloring outside the lines confused them.

I stopped playing chess on the board for many years but never stopped playing off the board, sharpening my skills as I navigated my high school years, college, and my early career. I often learned the rules well enough to navigate their exceptions, many times taking the road less traveled.

About a month ago I decided I wanted to start playing again after watching a friend play on an app on his phone. I focused on learning the different opening offenses and defenses. I started playing (and losing) using those tactics. But what does this have to do with financial literacy? Just stay with me for a minute.

See Also: 7 Business Takeaways You Can Learn From Monopoly

The Right & Wrong Way To Do Money

My early experiences with money were very similar to my early experiences playing chess. I knew I should save and invest but I didn't know why or what for. There were openings I hadn't learned like how to build credit or what portion of my paycheck I should be contributing to a 401(k). There were even advanced moves I didn't know were possible much like the King and Queen side castle or en passant that showed up as buying a house or setting up a life insurance policy. I knew how to do money well enough to say I knew how to do money just like I knew how to play chess well enough to say I knew how to play chess. But the difference between "well enough" and proficiency can be the difference between cycles of scarcity and survival or experiencing financial wellness and thriving.

While I don't believe there is a right and wrong way to do money, what I have learned is that the more tools, strategies, and opportunities to use those tools and strategies, the better you get at money so that even when things don't go according to plan based on your unorthodox approach to money, you can still capitalize on the building blocks of what you know and make in game adjustments as needed.

Share this with a colleague!

- Rahkim

I am booking for speaking engagements, workshops, and more this month!

For inquiries and booking information to have me speak for your Employee Resource Groups, Executive Teams, Students, etc. for Financial Literacy Month and Mental Health Awareness Month. Email [email protected] or visit my website at www.RahkimSabree.com