{"id":23646,"date":"2022-04-12T02:42:25","date_gmt":"2022-04-12T09:42:25","guid":{"rendered":"https:\/\/soinfluential.com\/?p=23646"},"modified":"2022-04-12T02:42:27","modified_gmt":"2022-04-12T09:42:27","slug":"how-to-improve-your-financial-literacy-in-the-digital-era","status":"publish","type":"post","link":"https:\/\/soinfluential.com\/how-to-improve-your-financial-literacy-in-the-digital-era\/","title":{"rendered":"How To Improve Your Financial Literacy In The Digital Era"},"content":{"rendered":"

Financial literacy is more important than ever before, with the pandemic exposing many weaknesses requiring attention by individuals and businesses alike.<\/span><\/span><\/p>\n

Protecting ourselves from turbulent times requires a certain level of financial proficiency in the areas of earning, spending, saving, investing, and borrowing money, which can ultimately lead us to a sense of confidence and well-being<\/span>. But <\/span>Financial Literacy also requires an element of emotional intelligence along with a healthy dose of savvy, especially in the new digital era. With inflation at an all-time high, what do you need to know to improve your odds of successfully navigating this ever-changing landscape?
\n<\/span><\/span><\/span><\/p>\n

Robert Kiyosaki,<\/span> deemed by many to be the modern Godfather of finance, and credited <\/span>as the inspiration for their success <\/span>by m<\/span>any of today’s most popular Finance Gurus,<\/span> has long foretold the financial crisis now gripping the world. But it\u2019s not all doom and gloom. The author of the all-time best-selling personal-finance book, \u2018Rich Dad Poor Dad\u2019, has revealed that he plans to use the financial crash as an opportunity to strengthen his investment portfolio:<\/span> \u201c<\/span>Inflation is a tax on the poor and middle class. Inflation makes the rich richer. Get smart. Get richer. I am buying more gold, silver, Bitcoin, Ethereum, rental real estate, and oil.\u201d<\/span><\/p>\n

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As we start thinking about investing, <\/span>Taryn Lee<\/span><\/a> – Healy Global Ambassador, Conscious Entrepreneur, Founder of \u2018Kinship\u2019, and Visionary for Illuminate, a new paradigm movement for female leadership – believes that women need to approach money with an understanding of the power it has to do good in the world:\u00a0<\/span><\/p>\n

\u201cMaking money can be a wonderful, joyous, and vibrant experience. The rise in feminine leadership continues to grow and expand, encouraging and empowering women to take control of their financial destinies. I love sharing tools that empower women in this way and help them\u00a0 to embrace this evolving paradigm.\u201d <\/span><\/p>\n


\nA member of \u2018Witches of Wallstreet\u2019, Lee and her fellow panel of divas, invest in womens\u2019 businesses, where 10% of profits go towards helping women in developing countries to get their businesses off the ground. <\/span>\u201cBusiness is the avenue for a lot of women to self-actualize. connect and create community, expand personally, professionally, spiritually, and create limitless amounts of money.\u201d<\/span><\/p>\n

If the ultimate goal of improving financial literacy is to gain a sense of confidence and well-being<\/span>, then working collaboratively further empowers that agenda. As the saying goes, ‘Rising tides raise all ships.’<\/span><\/p>\n

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The interconnectivity of how we think about, earn, and spend money is something that <\/span>Camberly Gilmartin<\/span><\/a>, Entrepreneur, Women\u2019s Coach, Mentor, and Author, has a unique perspective on. Raised in a <\/span>hardworking, middle-class family, success was always equated with money. Her father was at the helm of all things financial, and i<\/span>t was not until after a painful divorce that as a single, working mother of two, Camberly began to truly realize the importance of prioritizing Financial Literacy. With a new sense of responsibility and purpose, her attention to detail grew.\u00a0\u00a0<\/span><\/p>\n

\u00a0<\/b><\/span><\/p>\n

\u201cThe simple concept of Cash Flow Management can sometimes be overlooked as we move further toward more of a \u2018cashless\u2019 society. With the ease of credit cards, online transactions, and the onset of digital currency, spending happens almost invisibly. Do you know how much money you earn from all sources and how much you spend from all sources every month? Do you have enough money to cover your necessary expenses or are you spending money you should save? Everyone needs a plan for Risk Management\u201d<\/span><\/p>\n

As Gilmartin suggests, raising awareness around spending habits is a step closer to mastering Personal Finance. Spending strategically, and paying attention to your mindset around money is paramount in avoiding the pitfalls of making impulsive decisions.<\/span><\/p>\n

Being smart with money shouldn\u2019t be confused with acting out of lack and scarcity – a two-edged sword with the potential to derail even the cleverest of financiers. To be part of active change in the world, Gilmartin follows Warren Buffet’s theory of investing in companies, products, or ideas that she is personally passionate about \u201c<\/span>That way I know that I am intentionally aligned with what I am putting my money into. By acting in this way I can build both personal abundance and contribute toward companies, products, and ideas I believe are working to create positive and active change.\u201d<\/span><\/p>\n

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\n<\/span><\/p>\n


\nAccording to <\/span>Shar Moore<\/span><\/a>, TEDx Speaker. TV Talk Show Host, Multi-International Award-Winning Mentor, International Best Selling Author, Keynote Speaker, and Founder of the Feminessence\u00ae\ufe0f Movement, fear of risk has the potential to be just as damaging as being impulsive.<\/span><\/p>\n

\u00a0<\/b><\/span><\/p>\n

\u201cThe biggest thing holding women back is not trusting themselves. Trust your internal innate GPS System, and don\u2019t always comply with the rule book! We don\u2019t all succeed the first time around, and we shouldn\u2019t let bad experiences steer the course of our lives. Learn the lesson and trailblaze your way forward into the vision you desire. Don\u2019t let your past dictate your future! \u201d\u00a0<\/span><\/p>\n

This rings especially true when considering making money-moves that may seem scary. Two of the world\u2019s biggest, most successful companies, <\/span>Uber and Instagram were born during a recession, so it\u2019s absolutely feasible for businesses, companies, and entrepreneurs to come out on top of the current financial crisis.<\/span><\/p>\n

So how do we accrue the right balance of financial brains and economic bravado? Let\u2019s get down to business:\u00a0<\/span><\/p>\n

Get Smart<\/span><\/b><\/p>\n

Consume useful, relevant content. Read personal-finance books, subscribe to financial newsletters, listen to financial podcasts, and follow Financial Gurus on social media. Get it wherever you can, and make it a part of your daily life. Maybe even skip Netflix for an evening, and opt for some wealth-wizardry instead!<\/span> \u201cI have my own magazine, so of course, I have a soft spot for print media. There\u2019s something about good quality, thick paper that\u2019s silky to the touch\u201d, shares Moore.<\/span><\/p>\n

\u00a0<\/b><\/span><\/p>\n

Track Your Money<\/span><\/b><\/p>\n

Yes, this one\u2019s a little boring, but you might be surprised at how good you\u2019ll feel from gaining some clarity around your spending habits. There are so many apps out there that can make it less of a chore and more of a daily pleasure. To that Lee adds:<\/span> \u201cI am extremely strategic. I can see the pieces of the puzzle already. Anything that helps you get clarity of where you\u2019re going is a win!\u201d<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/b><\/span><\/p>\n

Get Professional Help<\/span><\/p>\n

The internet is full of Coaches, Mentors, Advisors, and Planners ready and able to help you move toward financial freedom. Seek them out, and do your research before committing your hard-earned money to a person or program that might be taking a bigger game than they actually deliver. <\/span>\u201cAs with anything in life, you can save so much time, money, and hardship by finding someone who has already been there. It could be the best investment you ever make.\u201d<\/span> – Gilmartin.\u00a0<\/span><\/p>\n


\n<\/span>In Closing<\/span><\/p>\n

Financial Literacy is more than just knowing how to make and handle money. It requires an understanding of why we desire to have more money in the first place, along with an understanding of how we can use it to positively impact those around us. From a place of emotional intelligence, thoughtfulness, and generosity, we can all become masters of our own finances and help others to do the same, while paving the way for future generations to inherit a world of abundance.\u00a0<\/span><\/p>\n

\n

WRITTEN BY SHANNON ROSE<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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