No matter how important it may be, I find that for most people, money is the last subject they want to talk about. We've all had financial issues, whether it was spending, debt, saving or budgeting. If you are struggling or just need a little money motivation, here are My Top 5 Personal Finance Posts to help you conquer your money problems.
What's the difference?
When you’re financially literate, you have an understanding of how money works – how to earn it, manage it, invest it, etc. and technically you have the skills and knowledge to make financial decisions. When you’re financially capable, you also have the confidence, attitude, and self-efficacy to act on this knowledge. Basically, when you’re financially capable, you believe in yourself. You believe that you know enough to make a decision OR that you know enough to know when you ask for help AND you believe that it’s worth your time and there is value to managing your money proactively. Yeah. I know this sounds likes a big challenge. But here’s why financial capability is way less scary than it sounds. With financial literacy, it can sometimes feel like you need to know everything before you make a move. With financial capability, you have the permission to learn and make mistakes as you go along. If you’re financially capable, it’s okay to stumble through some things and not know it all, because you have the confidence to make course corrections along the way. Here are some moves you can make this week to get closer to becoming financially capable:These days it seems like the more money you make the more you spend. You work all week, make a enough money to pay your bills and still have some left over too, so why don't you have more money in the bank? The truth is financial freedom doesn't come easy. If you take a good look at your spending habits, it may become clear what is holding you back. See if one of these 7 reasons are contributing to why you are still broke.