Why there some people who are making a lot of money and others are experiencing scarcity?
What is it with money that we love to HODL so much yet we are not working out to achieve financial freedom?
How can I grow my money for retirement?
These were some of the questions I asked my self before I had seen the need for Financial Literacy. It is crucial to start from the basic principles of educating ourselves to be aware that money is just a form of power if not a tool to transmit in achieving a financial breakthrough.
In the book entitled, The Secret to Saving and Building Your Future, which I considered my tutor into one-on-one session on Financial Education apart from the other book "How to Prosper," the difference between wealthy and average people is that the former takes the TIME to INVEST in knowing HOW money works, build their inner circle with the right people for PROPER GUIDANCE and information.
TAKE NOTE, the more you know, the more that there is to know!
It is also by knowing that you learned how you increase your investment. Information given today is FREE, and it is our social responsibility to take them into proper absorption accompanied with the right vehicle for potential growth.
Financial Education as our Standpoint for Financial Freedom!
When I started into stocks, it was such a topsy turvy ride. I never had proper guidance and, most of the people I surrounded myself with were not into investments more into the stock exchange.
It's a scam for them. Gambling sort of!
The road toward financial freedom was not part of the financial journey knowing that employment and going into the rat race was sufficient not bothering too much for future and retirement. Back in 2019 when my Metrobank stocks at least had 13% rate! fair enough for a bank right?
Once they received their salary at the end of the month, bought what they wanted to buy, paid bills the remaining amount would be for savings and never for investments.
I chose the road less travelled instead. I forced myself to study the very basics of handling a portfolio and from there turned into paid subscriptions for GUIDANCE. I received monthly Stock Updates and needed to apply the SAM or the Strategic Averaging Method as per recommendation.
Lo and behold I was so happy when I received Cash Dividends from my investments. My enthusiasm to learn led me into DIVERSIFYING my portfolio hence ventured out into Mutual Funds apart from Equities.
These were just the result of my financial education standpoint, started into LEARNING the essential factors for working more into financial freedom. Had I not educated myself on Financial Literacy and studied the psychology of the market, I would never have the stamina to thrive despite the emerging Black Swan from time to time.
Cryptocurrency is just Another form of Money; Bitcoin Cash has an Edge that's why I love it!
There are tons of articles shared on the monetary value of Bitcoin Cash as another form of cryptocurrency, its growth and adoption, check on @CryptoMax , of course when @Pantera stated that "Bitcoin Cash is the epitome of financial progress and inspires a productive future far from big governments."
The underlying factor of using digital money and not just fiat when Roger Ver said in one of his interviews at the Clubhouse: The Future of Peer-to-Peer Money that the more choices we have led to better competition despite China's launch of their own cryptocurrency, the idea was to have an ALTERNATIVE, having an options are far better than having none. There's so much wisdom in their conversation!
He shared further how boring the world if there would only Coca-Cola, Facebook, or Youtube used by the entire planet. The rationalization of having options is mainly for better competition which gives Bitcoin Cash an edge over other cryptocurrencies available in the market today.
Bitcoin Cash has F.E.L.R characteristics where it stands for Faster, Easier, LOWER fees and most of all RELIABLE transactions.
When my father was still fighting for his life in the hospital wherein medical bills skyrocketed and sending my portion of Bitcoin Cash to my sister's account took it only less than an hour compared to the 3-5 if not 7 business days for the fiat transactions I did via PayPal.
I was scared as well they would freeze my account knowing that I was sending an alternate 5 days so they would have enough money to use only to receive an email that my transaction was under review for approval?
I was enraged the most with the rumination that my OWN MONEY has 24 hours review and if they can't release it for any reason (not specified) they will contact me?
What the heck! My father needed medication. It was between a life and death situation. How can I not be frustrated?!
When "Control" is exercised just like what happened to the people of El Salvador despite Bitcoin being used as a legal tender in the country but the thought of "forcing" them to have/use it, still would boil down to manipulation at its finest. Cryptocurrency is an option for fiat! A better alternative!
Financial Industries like Banks Failed to Educate Financial Literacy!
From the book aforementioned, the author talked to a banker and asked why the interest rates between the wealthy and the average people has different rates?
You might be amazed that the banker's response was unexpectedly pointing to the average person's financial knowledge inferring to his incapacity to understand the long-term effect of compound interest.
Hence when I learned of a vehicle that could help me grow my money into a higher interest rate, expected that I don't put my money in the bank instead the clever thing to do was to buy shares of it so when they earned they give me cash dividend. Sure you can put a certain amount of money for emergency cases maybe but never for a long-term goal.
What's the Rationale?
I have heard so many stories even with my relatives that they simply put their money in the bank for 5 to 10 years ended up complaining they don't gain anything at all.
A small percentage accumulated in the next 5-10 years would be eaten up by the inflation rate.
So going back to the question, is Financial Literacy substantial to the growth of our money? My simple answer is YES!
Without financial education you will never know that the bank itself won't let your money grow. Therefore, investing first in your financial education ( well self-education will make you a fortune somehow) pays the highest dividend because the more you know, the more that there is to know!
Remember what Albert Einstein,
“Compound interest is the eighth wonder of the world. He who understands it earns it. He who doesn’t pays it.”
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Check some of my Financial Literacy posthereIf you're a first-time mom like me you can also check on my posthereText Divider fromHiveAscend Financials images Official FB GrouphereLead Image from Pexels, some images are mine edited via CanvaDisclaimer: International Marketing Group (IMG) is one of the few companies of it’s kind in the industry today; a company which caters to the financial needs of every individual and family who wishes to attain Financial Independence. IMG established agreement with many of the world’s leading financial services in the Philippines who offer a broad array of Financial Product’s and Services. IMG does not sell Mutual Funds. All mutual funds are sold by Rampver Financials.
A veces no entiendo mucho¡