Why Financial Literacy Is the Difference Between Wealth & Poverty
Financial literacy is the difference between awareness of good decisions.
Those who have financial literacy have the ability to know what makes sense and what doesn’t make sense financially.
Those who don’t have financial literacy don’t have the ability to know what makes sense and what doesn't make sense financially.
This seems so simple, but in 11 years of helping people with their finances, this is the single most neglected and overlooked thing in personal finances.
Financial literacy can only be obtained one way and that way is through learning about money.
Learning about money can only be obtained one way and that way is through studying materials about money.
The average person does not study about money and therefore cannot make logical and sensible financial decisions.
This is why I’m so big on financial education!
I spend a good majority of my time teaching others about finances and how it all works.
For example, if I told the average person that I save a very large percentage of my income into life insurance, they would be shocked and probably wonder why. I’ve heard “oh that’s a scam” or “why do you use life insurance” or “why aren’t more people doing this if it’s so good”?
Now I don’t give any weight to these kinds of remarks, because I know what I know (I am financially literate). But a remark like this would only come from someone that is financially literate.
Same thing with telling someone not to put money in their 401k. The average person would tell me I’m crazy, I’m missing out on the free match, and all sorts of other programmed phrases (I say programmed because this is just the mindless repeating of marketing from the retail financial industry).
Someone who knows better wouldn’t put their money into a 401k because they know that the taxes they pay when they withdraw their money outweigh the tax deductions they’re going to get on the front end, the money is locked up with Wall Street where the only guarantee is fees, and that the match isn’t “free”.
The key difference between these two viewpoints comes down to the fact that one person knows what the other person doesn’t.
So, what is the point of this entire rant on financial literacy?
It is one of the most involved areas of our lives and it makes no sense not to spend time learning about it.
How can we expect to win with something we know nothing about?
And how can we expect to know something we haven’t studied?
As a solution, I want to offer you a free copy of my book The Blueprint to Financial Freedom.
To get a free copy, click here!
This book covers 11 years' worth of studying and financial literacy that I have personally gained and written so that you can get this information without having to do all of the work that I did.
It also comes with a free Course Supervisor who will make sure you understand what you’re learning and finish the book!
Plus, it comes with a free coaching call so you can apply what you’re learning!
So, grab your free copy by clicking here!
To Purpose, Wealth & Freedom,
Jerry Fetta is the CEO and Founder of Wealth DynamX. He is a nationally recognized financial expert featured in Forbes, Yahoo Finance, Fox, Chicago Weekly News, New York Finance, interviewed on over 45 podcasts with world renowned experts, earning endorsements and affiliations throughout his career with names like Kevin O’Leary, Grant Cardone, Dave Ramsey, and Pamela Yellen.
Jerry’s mission in life is to help create millions of financially educated and solvent families achieving greater financial freedom and sharing the truth about money with those around them.
Learn more at www.WealthDynamX.com
(DISCLAIMER: The information in this content should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Wealth DynamX can and does not provide advice unless/until engaged by you.)