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Let's talk about Finance


What about finance is important

What makes understanding finance essential to learn as we are growing up? We all know someone who is either doing well financially or not so well. Perhaps that is you not doing the best as you think you can. However, we can surprise ourselves with what we can do because we are more powerful than imagined. We learn and perform impossible things because we are members of the human race, and the human race is filled with passion. You have to change your mindset on finance if you want to see a difference in your life. Let's do it together and go through the basics.

But what does finance mean

Finance is, in general, a vast word; think of it as an umbrella with a lot of smaller sub-topics underneath it. We use several numbers of these sub-topics daily. However, at the foundation of every sub-topic is the same variable, money. Another sub-topic is investments which is a vast topic that I have already covered in a different report. Perhaps the scariest and most misunderstood is credit. That is also vast, and I will have another article about it posted soon. Let's go over the basic foundation, money, and let's change your look at it.

Money makes the world go around. I'm sure you have all heard or read that somewhere. But, unfortunately, the importance of money is sometimes viewed as the root of all evil. I beg to differ. I believe money is more like a tool that we use in our society. Most of us trade our time for money and usually do that for most of our lives. When you are used to being around it so often, you can lose touch with the importance. Especially now, with social media, most people buy things to impress people they don't care about at all. We don't do this consciously because we hate that idea being true. So, next time you buy something, ask yourself, "Do I have an urge to show or tell someone?". This question is a start to building your self-awareness regarding money.

Having money is extremely important because it creates options in your life. How often have you told yourself you can't "insert problem here" because you have bills or other financial obligations. Having a substantial savings account of at least one month of expenses differs from having a financial emergency and inconvenience. Ideally, you want between three to six months of expenses saved up. You should instead put any excess money more into investments.

What about any debt that you have. Suppose you're like most Americans; you have some debt. Although not all debt is bad, good debt is often referred at leverage. Bad debt is anything with high interest and isn't being used to produce more money. For example, a car is a liability as it depreciates every year, every mile added. So getting rid of those bad debts should be priority number one. Every dollar paid in interest is money that is being thrown away. Taking control of your debts takes a lot of courage, and don't ever feel alone doing this. We are building a community of people from all aspects of life to get together and disrupt the finance world. Let's show the world that we can Do The Impossible.

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