Introduction
What are the relative indicators of a superior financial IQ? How can it be efficiently learned by anyone?
If you have a heartening Superior Financial IQ, likewise you substantially have a superior or better chances of a flourishing economic well-being. It’s not at the very least solely indicative of a significant worth to gain Intelligence Quotient (IQ) in life, but further its equally significant that you possess a Superior Financial Intelligence Quotient (FI- IQ).
Marked with precautionary measures and prudence– you control your spending. You have the essential sagacity and wisdom in the management of your financial aspects,
Henceforth, you have the liberation and restraint from the power of spendthrift. You have the peace of mind that come from avoiding unnecessary debt and overspending that eventually leads to financial freedom.
Table of Contents
Here are the 5 Indicators of a Superior Financial IQ
- Wise buyer. One indicator of a superior financial IQ is you are a wise buyer. You have the ability for a keen judgment. You take the time to find great deals and successful business agreement or transactions, a bargain yet with quality and value. You make necessary comparison on products and stores where you can spend less and save more. Proffer for less costly but with first rate quality and not easily shattered products. You have the capability and wisdom to govern and discipline oneself by the use of reasoning. You always know when to exercise prudence with your finances.
- Make your money work for you. Another indicator of a superior financial IQ is you make your money do the execution of work for you. You adequately save and further invest it to generate additional income. You know the value of learning to economize in order to invest and earn a financial return. Aiming to gain more assets, business, investments and properties. Build your income, always start small. You have the skill and sound judgment in the use of your own resources.
3. You have a superior financial IQ if you know how to purposely allocate for the unforeseen circumstance and emergency and save money no matter how modestly little or comparatively big your monthly pay is. You prioritize first your long-term goal on savings rather than short-term goal on spending much. You earmark and set aside 20% of your pay for savings and 80% for expenditures. Likewise, an indicator of a superior financial IQ is when you allocate for emergency funds so that you have a ready fund for unexpected unforeseen circumstances in your life and that of your family. We dont want this to happen but it is better if you are perpetually ready. Yes, it’s good to save money but not excessively frugal that you intentionally overlook that you and your family similarly need to unwind occasionally from overwork– a physiological and psychological necessity for the well-being of everyone in the family.
4. Knows the absolute difference between his “wants and needs”– and logically follows it. A person with a superior financial IQ knows his priority in life is more on the “needs” in life versus “wants”. Other people prioritize “wants” and ends up running out of budget. This is just a fundamental simple regulating principle or rules and yet some still have remarkable difficulty. Why? Because 1. You go with the trend. 2. Justifying an excuse its ok to purchase it even if it’s not. 3. Impulse buying. Keep buying things without thinking, seeing an object is awesome they’ll buy it without any inhibitions or hesitancy. 4. Emotional buying. In the midst of deep-seated downcast state of grief or unhappiness or even intensely happy– they are more inclined to hastiness; they’ll react to the stimuli with speed and sensitivity resorting to purchasing things. Hence, dont buy if your emotions are still intense, just buy if your logic reasoning is back and emotions are in control.
5. You Know How to handle your money responsibly no matter how modestly little or big it is. Even if your monthly pay is 30k or 150k . If it is spontaneously easy for you to handle a little amount of salary, it would be much easier for you to handle big amount of salary. But if with 30k you are already a spendthrift then it denotes that you will have a formidable difficult time handling a higher monthly pay. There are some individuals who have a little salary yet are still able to have some savings. Whilst there are some individuals who have higher monthly salary and yet still runs out of budget. Monitor expenses, makes a budget and follow it. You know when you should spend and when you should not. Don’t spend money you dont have. It is here where many fails, even if it’s not yet payday you’re a spendthrift already. You succumb to credit and pay later that causes you to have more difficulty in handling money and finances and you are used to doing it and it eventually becomes your bad habit. You dont have a bad credit or a bad debt. Good debt entails you loan at a bank for the primary purpose of a good investment in a stable business, so it generates returns. Bad debt is nonsense credit like buying many unnecessary gadgets. You know it is better to save and then buy after rather than using your credit card or credit.
Superior Financial IQ on Luke 12:19-21
Then I will say to myself, Lucky man! You have all the good things you need for many years. Take life easy, eat, drink, and enjoy yourself! But God said to him, “You fool! Thís very night you will have to give up your life; then who will get all these things you have kept for yourself?” And Jesus concluded, “This is how it is with those who pile up riches for themselves but are not rich in God’s sight.”
The Bible teaches us that it is entirely doable to save wisely and invest for the future while in this temporal world– while at the same time being rich toward the Almighty God. Saving honors God as it properly values monetary funds as a form of gift God has bestow us. Jesus points us that storing riches in heaven is more vital of all. Today you will be a better person than yesterday, gain a Superior Financial IQ that leads to financial freedom. Success is coming with Jesus– claim it.
Internal Links
1.7 Topnotch Ways to Invest Money
2.11 Best Self-Sustaining Business
3.3 Fundamentals of a Small Business Accounting
4. 7 Best Local Business with High Profits
5. Amazing 10 Small Business Start-ups
6.10 Helpful Management Tips
7. How to be a Self-nurturing Successful Entrepreneur and Successful in Life: 7 Ways
8.11 Best Systematic Strategies on How to Start a Small Business
9. Get A Life With 5 Exciting Stress Management Techniques
10. 7 Best Interest + Driven Strategies to Thrive in Freelancing
11.5 Financial Tips & Redflags: Headed for Financial Freedom
12.5 Amazing Money Savers Techniques for You
External Links
1.Surviving the Recession: Practical Tips for Weathering Economic Challenges.
