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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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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Gold, as you know, is a hedge against inflation, which in the UK stands at 3.5%; 1.5% above target. It is the oldest currency in the world, and now that I understand what money is and how it works, I appreciate why it is.  Gold preserves your money, your assets! And will always do so. Full stop!

‘No paper currency’ Tim Price writes in this week’s Money Week ‘has ever persisted. The fate of all paper currencies is to deteriorate over time towards their inherent value, which is nothing.’ This statement is backed up in the following video ‘The Demise of the British Pound through Monetary Inflation’,

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Some people keep up to date on celebrity news, sports news, entertainment news and general news; I in contrary keep an eye on the economic news. Why, because in order to become financially savvy one must understand what plain one is working on. As the saying goes forewarned is forearmed.

In the last several weeks the headlines that have popped out at me are as follows –

• Hard times ahead for 3 more years (Daily Mail – 27.01.2011)
• Economic outlook is bleak indeed. We can put through but only if our leaders have courage enough to tell us the truth (Daily Mail – 27.01.2011)
• A fifth of university leavers are out of work (Daily Mail – 27.012011) – see my post on students and jobs here.
• Debt crisis could tear up Europe, says Soros (Daily Mail – 27.01.2011)
• Property – the Achilles heel of the financial system  (Financial Times – 27.01.2011)
• Young fret over money woes (The New York Times – 31.01.2011)
• Sudden uprising in Egypt unsettles global markets (The New York Times – 31.01.2011)
• Age of the part-timer: 200,000 jobs were created last year. Only 3 per cent were full-time (The Daily Mail – 01.02.2011)

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It’s the New Year, and this is my first post from Becoming Financially Savvy, the financial education and wealth creation blog of Butterfly Wealth Creation, for 2011. As such the subject of this article is very dear to my heart. Financial Equality!

Financial equality, in this context, refers to bringing financially stability to individuals from the poorest parts of the world, both here in the western world and developing countries. Financial freedom and financial education is a right for all, and it is amazing what one will do for it and what one can do with it, once they understand it, have it, and implement the core teachings of it.

We all know the world is much bigger than the EU, USA and UK and that although times are economically hard, globally, we have a lot more than most in other parts of the world, as such what are your thoughts on the following quote.

‘The purpose of wealth is to serve others’.

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