Becoming Financially Savvy

Portrait of Scrooge McDuck by ~jaggudada on deviantART

When learning new things, be it a language, a skill and/or a trade, it can sometimes prove difficult and at times very challenging.

For many learning about personal finance, the economy and money – how it works, and how to make it work harder for you, can be daunting and disingenuous due to our understanding of and interest in the subject(s); as well as our limiting beliefs with money and ultimately our relationship with it because of those beliefs.

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This New Year I believe will be one of reaping what one has sowed over the last several years. So if you have sowed well, nurtured and been patient expect good crops; if you have sowed complacency then that is what you will reap!  There has already been various warnings of more austerity and the degrading of a top world country; which has been shocking for many but brings into realisation that 2012 is going to be the year of economic reckoning.

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When most people think of Greece two things usually springs to mind – their sprawling ancient history and the numerous plays depicting the various misfortunes of life, know as tragedies. However, this is all changing now with current day tragedy of deficits, cuts and riots unfolding every day in Greece!

Since the credit crunch of 2008 Greece has been bailed out several times by the ECB and IMF, but this has not necessarily been to save Greece but to save the Euro and the shaky foundations on which the Eurozone is currently standing on.

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Last week I wrote a blog post about why one needs to become financially savvy with gold and in that post I said would write in my next post why gold has pulled back and how this can benefit you and your family’s financial future.

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This is a great video as to why it is important to invest in your financial education and become financially savvy; as well as not to take everything you hear on mainstream news as gospel….

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Copyright: Getty

Women and their money! This is what  Cherry‘s Cash Dilemmas on BBC3 was all about! Where Cherry Healey, a highly dynamic and down to earth presenter, travelled around the country (UK) looking at women’s relationship with money.

‘She goes to meet women with very different experiences of the folding stuff (money), from a self-made millionaire to a woman on the breadline. Cherry experiences for herself what it’s like to eat from a bin when she spends time with a freegan and gets a complete WAG makeover from a girl on a mission to bag a rich husband. Cherry’s journey takes her around the country as she finds out how financially-independent women really are and if cash can make us happy.’

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to purchase gold?

Depending how you look at it some would say no and some would say yes! Here’s why….

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Isn’t time you started preserving your wealth?

There is saying which goes ‘Rich people have big libraries whilst poor people have a big televisions’. And this is directed at those in financial poverty but mindset poverty, as well!

There is also something else that the rich have but the poor do not, and that is strategies to not only grow their wealth but to preserve it.

In the last several decades the objective for the masses has been to pursue capital appreciation aka ‘getting rich’; which has been epitomised by the now ‘ailing’ property market – globally and nationally.  In contrary the art of wealth preservation and protecting one’s wealth has been forgotten and all but dismissed by the masses.

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I have been following Mike Maloney, the author of the book ‘Rich Dad’s Advisors: Guide to Investing in Gold & Silver – Protect Your Financial Future’ for a while now. He is very knowledgeable not only on gold and silver but wealth cycles on a whole; which is a very interesting subject.

Just like this video below, Mike’s book is a must read and I totally recommend it. His style, as you will see in the video below, is frank, direct and logical.  So if you are interested in protecting your finances and assets, as well as understanding why the economy is in the mess that it is, then you need to watch this video…Today!

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Yesterday I was reading an online article about the UK property market and how it is set for the biggest slump in 50 years. Then this morning reading my daily dose of Money Week the key article happened to be on property – ‘Britain’s housing market is an unexploded economic bomb’, in which, according to Halifax, ‘Uk house prices saw their biggest fall in 18 months in April’.

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