The Importance of Financial Literacy…

How important is financial literacy? Very important! According to a paper prepared by Household Financial Management: the Connection between Knowledge and Behavior, research finds a correlation between financial knowledge and behavior.  Those who score higher on financial literacy tests are more likely to follow recommended financial practices. Compared with those who have less financial knowledge, those with more financial knowledge are also more likely to pay bills on time, reconciling accounts every month, and have an emergency fund.

This then begs the question of how and where to get the best financial knowledge?  For sure it is not from family and friends.  They know less about your situation than you do, and are therefore not likely to give you correct advice. Unfortunately, most financial literacy is assumed to be about how to make money, where to invest, how to invest, how to find the best interest rates, how to stick to a budget and so forth.

While these are worthy financial ideas, let me emphasize that continuing to pursue these ideas as a means to financial security will Salespersonbring you nothing but frustration and disappointment. This is not where true financial literacy lies. The popular rhetoric repeated by so many today is NOT sufficient to allow you to be truly financially informed. Even if a person has experience with the market and is skilled at making good money, if they do not know how to be efficient with their money by doing all the right things, in the right order, and at the same time, they will be no better off financially than the kid down the street working his first fast-food job. Even that great book, The Richest Man in Babylon by George S. Clason is devoid of methodology that befits our individual and unique financial circumstances of today.

As a result, many people become victims of those that know more than they do.  The merchants, financial planners and business opportunists always have the upper hand – they know more about their offering and how it works than you do.  You need to learn how to see all offerings and ideas through a principled financial prism that reflects your own unique circumstances, goals and desires.

There is only one place that offers a holistic, detailed, methodical approach to learning, and applying personal financial knowledge.  This place takes a principled approach with associated tools and techniques such that when applied will get spending immediately under control, MoneyMasteryLogo2eliminate ALL debt in under 10 years, and maximize savings so that one cannot outlive income. The result brings more money by using less time and allows any person to become wealthy on ANY income. 

In addition, this principled approach, unlike anything else preached by others, treats the psychological elements of financial literacy. It engages relationships in such a way that comforts the sensibilities of families struggling to raise a family and to grow financially. It addresses the emotionality of money, something that when understood leads to true financial literacy, which then leads to peace with finances.  If you want financial peace, you must learn more than you now know about how to manage your money and that means you cannot turn to popular financial gurus and the mind-numbing rhetoric you hear about how to manage your finances you commonly hear repeated across the media!

This comprehensive set of financial literacy information is set forth in only one book, MONEY: What Financial “Experts” Will Never Tell You (Amazon.com). As the title suggests, it is a unique compilation of case studies illustrating the results of those that have listened, applied and practiced the holistic art of the Money Mastery personal financial system.

For more information about this book and the Money Mastery program,  contact Alan today, 801-292-1099, alan@moneymastery.com,