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Your Biggest Asset: Your Mind, Financial Knowledge and Information

Investment GuidePeople often forget that their biggest financial asset is not money, stocks, bonds, real estates or business. Your and my biggest asset is financial knowledge and information.

It is heartbreaking to learn that people work hard for years only to trust their money blindly to the so-called fund managers of mutual funds.

Not that mutual funds and the likes are bad – but it is about time that people start to put their money to what matters most – financial education.

The premise is, if you have the right education, you can control your financial in whatever your personal financial endeavours.

Why you need to invest your money and time to obtain financial education and information

Your mind is your biggest asset – your mindset, what you know, and what you believe can command your decision making.

What many people experience in today credit crunch and financial slumps is mainly due to their lack of financial knowledge and information. Lack of these commands your decision making quality, as people act according to the reality they have in their mind.

Well-informed mind will result in well-thought decision making, and this includes decision making that involves money.

How the lack of financial education affects you

Many personal bankruptcy stories are evolving around people that lost their money due to the stock market crash. The most irritating thing is, they lost their money not because of their bad investment decision, but because of their blind trust to fund managers to manage their fund.

The truth is, it’s not the fault of the fund managers – they do whatever they can, but the money owners themselves, for their lack of financial knowledge and information.

The moral of the stories is that people should regain control of their money – they have to decide where to invest in what, and when.

That is achievable through proper financial education, that can comes in many form – courses, seminars, mentorships, and many more. Unfortunately, those could cost you hundreds to thousands of dollar.

Fortunately, there are large amount of free resources available, thanks to the Internet

The best thing of the Internet is information. You can access finance articles, such as loans articles, personal finance articles, and other finance-related articles.

However, the Internet is so flooded with information, that you can get yourself biased due to the pros and cons, as well as different perspective of a financial issue.

The best way to choose which ones are the right ones for you, you can consult finance forums for recommendations, as well as, of course, visiting financial authority sites, such as Financial Times’ FT.com. Visiting finance section of large networks is also a good start – sites, such as Yahoo! Finance, CNN Finance, and other similar sites can offer you credible information that will help you in your personal finance endeavours.

Conclusion

Every single person should take care of their own financial welfare – The Government can’t do that for you. Your boss can’t do that for you. Your parents can’t do that for you. You have to stand up, take responsibility of your personal finance management.

Learn as many as you can, as knowledge will set you free – literally.

Image by Duncan Rawlinson.

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8 Responses to “Your Biggest Asset: Your Mind, Financial Knowledge and Information”

  1. Duncan says:

    Hi there,

    Thanks for using my photo. Please provide a link to my site thelastminuteblog.com and attribute the photo to Duncan Rawlinson as per: http://flickr.com/people/thelastminute/

    If not that’s cool too.

    Thank you.

  2. Ivan says:

    Duncan,

    Done, and you’re welcome :)

  3. OneAdvice says:

    Yes, I really believe that knowledge is power when it comes to dealing with your finances and getting your debts in order.

    This is a really great and informative article – Thanks.

  4. Ivan says:

    Hi OneAdcive,

    Thanks for your comment :) Yes – so many people lack financial knowledge that can actually save them from failing financially, never mind how much you make.

  5. Ivan says:

    Thanks to you too for commenting :)

    I’ll try hard to push knowledge first over how much you can make – hence this blog’s name: money and minds :)

  6. OneAdvice says:

    Hi Ivan,

    Thanks for commenting to my comments! :)

    I totally agree with what you are saying – make sure that you keep up the good work with your blog and hopefully more people can arm themselves with the financial knowledge that they need to tackle their debt problems!

    Thanks again.

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