FINANCIAL INTELLIGENCE

The term "financial intelligence" seems like the little of a new science fiction thriller featuring complex terrorism crimes that play a hand in our government's framework. However, it is just a term used to depict financial cleverness which is exemplified in your ability to make informed and sound financial judgements. It may seem foreign to those who have not dabbled their personal time into this daily occurrence and it's something that may dare not to learn. But, why not? Or do you realize that every decision you make at any time has cost implications attached to it, including the time you spend. The well-being of your current financial status and future, financially, depends heavily on your financial intelligence and the opportunity cost that you forego.

FINANCIAL LITERACY

Financial literacy is that ability to understand finance or 'money'. More specifically, it refers to the set of skills and knowledge that allows an individual to make informed and effective decisions through the understanding of fiance. It is the ability to understand how stock market, bonds and other investment vehicles works, or even more simply put, how money works in general.

Having some form of financial knowledge will help you make informed decisions and understand the financial products that are essential to your financial well-being. Financial products that you will utilize throughout your life include bank accounts, mortgages, retirement savings plan, pensions, and basic investments like stocks, bonds, mutual funds, etc. Without this basic knowledge you will be behind the curve on basic financial concepts like compounding interest, investment return, risk diversifications, time value of money and so on.

DECISION MAKING

Every day, we make financial choices, ranging from whether or not we should cook something at home or go out and spend money on a meal. This is a minor decision, but still an important one. Many meals on the go can really add up in the long term when you think about the taxes and tips that are education, acquiring expensive gadgets, starting a new job, buying a house, starting a family, and planning for retirement are major financial decisions that require proactive thinking to prevent devastating dept overload or even worse, bankruptcy.

Financial illiteracy is a global menace, affecting even the most developed of nations. For instance, in America, personal savings is at a four year low with 29% of Americans having less than $25,000 according to guardian life, a financial services company. In Nigeria, the situation is even more staggering as a very huge chunk of the population do not understand, nor are willing to understand, the basic concept of savings and investments. Most people, students alike, spend everything they get, with no plans the future.
But with financial literacy, money saved and invested, is insurance for the future.

OWN YOUR FUTURE

You must realize that no one is able to put forth effort into managing your personal financial decision making. Having financial intelligence allows you to respond completely to every day financial changes in our general economy like increased unemployment, increased tuition costs, decreased state-funding programs, the depressing housing market. Take charge of your money: protect, invest, save, grow, and succeed. Become a FINANCIAL INTELLIGENCE

Hope that was helpful