One of the questions we’re often asked at the end of training a group of employees is, why does this information work for some people and not others? Why do most people battle to get ahead financially?
We typically find that it comes down to two things:
1. Most people don’t have any kind of financial education
Did you learn about money at school? How to manage it, grow it and invest it? No? Me neither. Most people we know have never had any formal personal financial education. Often, the only people they learned about managing money from was their parents. And a large percentage of people will often tell us that they actually learned what NOT to do with their money from their parents.
2. Most people who do have a financial education don’t do anything about putting their knowledge to work
So once you put people in a room for a financial education workshop and make sure that everyone has a couple of ‘aha’ moments about how to deliberately start managing, and growing their money, the next steps should be easy, right? Sadly that’s normally not the case. Because the thing is – managing money takes time, effort and energy. It’s like wanting to get your body into shape – you can think about it all you like but until you put in the graft to shop for and prepare healthy meals, and carve out time at the gym, it’s not going to happen.
So how do we recommend you make changing your financial future a priority in your home?
We recommend you do what you know works for you already. If for example you’re a runner and you know you’re good at following a running programme so long as you set your alarm and do it first thing in the morning – before the day runs away with you – then do the same thing with prioritising setting financial goals, and taking small but frequent steps to meet that goal.
Other people may prefer setting aside a weekly coffee date with their spouse at a coffee shop down the road to go through their finances whilst others still prefer to use a hashtag like #MoneyMonday or #FreedomFriday to remind themselves of and keep their financials goals on track. The bottom line here is that doing is key here. Money management and the creation of wealth is a verb. It’s an ongoing process that will suffer or flourish under the amount of time and energy you’re prepared to invest.
If you’d like to get ahead and give yourself the financial education you never had to date, then apply here to do The Money School’s Financial Education Course free of charge.
Author: Hayley Parry – Money Coach, The Money School