Why Financial Literacy Is Important For Your Life? Let’s Explore Further…
Whether we like it or not, we live in a world where money plays such a crucial and central role and therefore understanding how to manage it well can make all the difference if we want to have more freedom of choice and live a life of abundance – a life more on our own terms.
If we were truly honest with ourselves, we would probably all recognise that our ability to not only manage our money well but our ability to be able to successfully grow our money can have a huge impact on the life choices we are able to make.
Financial literacy is the key to confidently navigating life’s financial decisions, from big investments to daily expenses. Yet, even though it’s so important, financial literacy is unfortunately often left out of education and personal development throughout our lives. I would love for that to change.
In this blog post I’ll break down why learning about money is more than just knowing how to operate your bank account – it’s about building a secure future and empowering ourselves with financial knowledge, education and skills in the process.
Why Financial Literacy Is Important For Your Life And Why It Matters
1. Making Informed Decisions
Financial literacy gives us the tools to make smart choices. With so many complex options open to us – from investments to cashback credit cards to high yield savings accounts, to leveraging good debt and knowing the basics can help us see through the fine print and choose what’s best for us.
Whether it’s understanding interest rates or the impact of credit scores, financial literacy helps us make informed decisions specifically tailored to our own personal goals.
2. Building A Strong Financial Foundation
Just like a building needs a sturdy foundation, so does our financial life. Without basic knowledge, it’s easy to fall into bad debt, miss out on savings or investment opportunities and feel financially stressed.
Financial literacy gives us the foundation to create responsible habits like budgeting, saving, investing and managing debt effectively, proactively and strategically, so we can build a more secure wealth driven future for ourselves and our loved ones.
3. Mastering Credit
Credit is a big part of modern financial life, affecting things like loans and even job opportunities. But without a solid grasp on how credit works, it’s easy to end up in a cycle of bad debt.
Financial literacy helps us understand credit scores, interest rates, and debt management. With this knowledge, we can make smart decisions, avoid risky lending options, and build a healthy credit profile.
4. Becoming A Smart Investor
One of the biggest benefits of why financial literacy is important for your life is the chance to go from just earning money to actually learning how to successfully grow it and make it work hard for you.
Learning about investments, whether it’s stocks, cryptocurrencies, bonds, real estate, precious metals or other commodities, gives us the confidence to invest wisely and build wealth proactively and with purpose over time.
When you learn to master financial literacy, investing isn’t as intimidating as it is typically perceived to be; it actually becomes a clear path toward long-term financial growth.
5. Handling Life’s Big Moments
Life is full of changes, both planned and unexpected, like starting a family, going back to school, or facing medical expenses.
Financial literacy serves as a guide during these transitions, helping us plan for the future with things like insurance, an emergency fund (or sometimes more appropriately known as the peace of mind pot), and retirement savings and investments.
Knowing these basics means we can face life’s challenges with financial strength, stability and peace of mind.
6. Final Thoughts on Financial Literacy + My Personal Breakthrough
Personally, I’ve always strived to continue to improve my own financial literacy and to prioritise investing in my own financial education so that I can build wealth faster as well as more passively and strategically.
For those of you who know my back story, you will know that my entrepreneurial grandfather inspired and taught me from an early age to focus on wealth building activities and investments that I could easily incorporate into my daily life and enjoy!
He taught me to learn about and collect wealth appreciating assets and commodities that I liked or was interested in and ones that had a history of strong capital appreciation over time. Commodities such as rare vintage wine, gold and silver coins and rare lego sets! I know right – I can imagine you laughing! 😂🍷🪙
As great and successful as this strategy was for my grandfather and me, in reality we usually had to wait many years before being able to crystallise any gains from those types of investments in physical based commodities and assets.
The sentimental photo below shows my grandfather gifting me a hand signed rare bottle of Dom Perignon vintage champagne on my 21st birthday, only a few months before he sadly passed away.
Fast forward another 21 years, I stumbled across a random ad on social media of a dancing Kiana Danial, the CEO of Invest Diva teaching some powerful investment concepts that I found amusing, made sense and also peaked my interest!
This was the moment I realised that there might be an opportunity for me to finally learn how to accelerate my wealth even faster without having to wait many years and clutter up my spare room with collections of physical assets and commodities!
This was a real opportunity for me to learn how to make my money work for me more actively through investing in financial assets of my choice in the stock market.
I loved the simple idea that if I was prepared to invest in my own education, I could save a lot of time and quickly learn a new and powerful life skill from someone who was already hugely successful and someone who I trusted, respected and had achieved exactly what I was looking to achieve for myself and my family.
Call it what you will – this was exactly the educational shortcut or wealth building hack that I was looking for. With a red hot burning desire – I was excited to learn how to take control and make my own investment decisions work for me in a time frame that suited my ambitions, centred around my own unique risk tolerance and financial goals. I couldn’t wait to be empowered by Kiana’s proven strategies and methods!
What Action Did I Take?
I found myself jumping straight into Kiana’s free online Triple Compounding™ training HERE and then immediately decided to purchase her world renowned and most popular Triple Compounding™ course so that I could take action immediately and learn Kiana’s 5 Step Diamond Process to take control of my financial future and make my money work harder for me. This Triple Compounding™ Course taught me how to ‘Generate’, ‘Automate’ and ‘Accelerate’ my portfolio and I loved it!
I loved that the course was super organised into easy to digest modules which were simple to follow and step by step. The course even gave access to a supportive and positively engaging private Facebook Group community where I could get my questions answered by coaches if I got stuck with the course material as well as the opportunity for some private one to one platinum coaching calls with experienced coaches who were able to bring any concepts of the course to life on private Zoom calls.
The reason why financial literacy is important for your life is because for me personally, making the decision to take action and invest in myself to learn from Kiana’s trainings, turned out to be one of the best and most life transformational decisions of my life. Read that again! 😱
How Has Deciding To Invest In Myself And My Education Been Important For My Financial Literacy?
I know some of you know my story but for those who don’t, I blasted through Kiana’s Triple Compounding™ Course in just 3 short days. With no prior experience whatsoever, I went on to make my initial investment decisions over the next 7 days and started to build my own investment portfolio in stocks and cryptocurrency for the first time in my life.
Fast forward 5.5 months, my portfolios were at $100K+, 6 months later they were at $200K+ and 18 months later they were well past $500K+ total. 🤯
I share this story with you not to impress you but to impress upon you that you can learn the life skills of how to make your money work for you too.
When presented with an opportunity to invest in my own financial education, I did not delay, I did not procrastinate, I took action and simply took the first step to get started. I said “YES” to the opportunity to learn and I encourage you to take a look today.
I’ve written this blog post for you because I genuinely want to help you if you are open minded, coachable and an action taker.
Are you at a point in your life like I was where you are fed up with the slow growth of your wealth?
Are you ready to invest in yourself now to acquire the knowledge and learn the skills required to help you quickly take control of your financial future and learn how to make your money work for you with Kiana’s unique Triple Compounding™ system?
If You Answered YES, Congratulations! You Now Have 2 Options:
- Register for your FREE Triple Compounding™ Training HERE AND get the Triple Compounding™ workbook and personal risk management toolkit for FREE.
- Book a quick complimentary Q&A Zoom call with me personally! Yes, you can actually speak with me for real on Zoom! I’m super busy and I do have limited slots on my calendar so I can’t make this generous offer for long, so access to my calendar will be first come first served. Book your FREE Zoom call HERE at a date and time to suit you and get your questions answered so that I can help you take action and move forward quickly with a decision that is right for you.
If you are lucky enough to book a slot, please make sure you turn up otherwise you are depriving someone else of a rare opportunity to speak directly with me.
Wishing you every happiness and success for the future. Let’s go! 🔥🚀
If you liked my blog post about ‘Why Financial Literacy Is Important For Your Life?’, then you will love my blog post about ‘Triple Compounding™ By Invest Diva’.
Disclosure: I am not a financial advisor and this is not financial advice. This information is for educational purposes only. This post ‘Why Financial Literacy Is Important For Your Life?’ may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please see terms of service page for more information.
Tristan is an internationally recognised success coach. As an independent contractor, he provides high level coaching and project management services for Invest Diva. He is an entrepreneur, investor and speaker. He has achieved the $500K+ portfolio award. He co-authored Cryptocurrency Investing For Dummies 2nd Edition book with Kiana Danial. He is the CEO and founder of Wealth Proactive providing Wealth Building Education, Strategies And Solutions For Entrepreneurs.
