IQ, or intelligence quotient, assesses your overall intelligence level. We’re guessing that if you’re reading this blog post your IQ is pretty high.
But what is “financial IQ”?
Financial IQ is a measure of how well you do with money.
Having a high financial IQ doesn’t mean that your investments outperform the market or predict you’ll retire a millionaire. Rather it means you handle money responsibly.
You make smart money decisions and spend and save according to a plan.
People with low Financial IQs tend to focus only on spending, while those with higher Financial IQs also focus on saving.
Unfortunately, increasing your financial IQ takes time and energy.
Here are three steps you can make to increase yours:
- Organizing records of expenses and income
- Educate yourself. Three links to good sites or books and online webinar
- Smartphone apps to help you stay within your budget, meet your savings goal
This month, April 2015, is Financial Literacy Month, which focuses on improving your financial IQ. To mark Financial Literacy Month, we are giving away five free copies of Rich As A King. To win your free copy, click here