FinIQ-Money Lingo

@FIN.IQ242 Prior to a Natural Disaster? Money Matters. It is before anything actually happens that money matters the most. You would think it's after right? Nope. That's because prevention is less traumatic and ,often, less expensive that recovery. Most people, including myself, would agree that a lot of the measures to prevent and protect yourself are costly and requires solid financial stability! I live in The Bahamas so our major concern has always been hurricanes. Because of that everything that is related to hurricane protection just seems more costly. Especially the insurance! The premiums for hurricane insurance is not something that most can not afford. Apart from being able to stay readily prepared, money also: -Allows you to be able to evacuate on your own accord -Gives you the option to be generous and assist others in preparation - Affords you a peace of mind During a Natural Disaster? Money Doesn't Matter Again, I live in the Bahamas therefo

@FIN.IQ242 Apart from money, wealth is often associated with one thing. Can you guess what it is? *An eternity of silence as I imitate an interactive Q & A Dora scene* That's right! Luxury! Big fancy houses, foreign cars, exorbitant clothing lines, high end jewelry , exotic vacations etc., all of these luxury items and experiences are very often associated with being wealthy... And it should be. Living a life of luxury is something that only the mega wealthy can realistically afford. But here’s the problem: Perception becomes reality. Those of us aspiring to become wealthy can become blinded by the glitz & glam and luxury is no longer associated with wealth. We can actually start believing that luxury IS wealth. This common misconception causes a lot of us to not actually work to become wealthy  but just to purchase non-essentials, as to give off the impression that we are “well off”. Securing wealth is not just about looking good and living

                                        @FIN.IQ242 "Cash Rules Everything Around Me, C.R.E.A.M.! Get the money, Dolla dolla bill y'all!" Shout out to Wu-Tang for this bop but they have it backwards! You're going to need to learn how to rule all of the cash around you instead of the other way around. Cash flow management is the most effective skill that you can learn in your personal finances and is the key to financial  freedom. Income, Assets, Expenses  and  Liabilities  are the 4 major aspects of your cash flow.  Income Income is your cash inflow and it can be broken down into two categories; active income and passive income. Either way, you're getting paid, but they both have two completely different strategies.  Active income is where you use your time and energy to get paid (boooo!), but passive income is where you use your money to get paid (yayyyyy!). Working for money is a very common thing to do. Some persons develop lucrati

@FIN.IQ242 Yup, that's correct,  money has rules  and it’s very likely that some of you DON’T  know what they are. Lucky for you,  I DO  and   I really want to share them with you. Money Rules: Rule #1 - Money Is A n 'Attention Whore' People with money get attention and people with attention get money. This is why everyone wants to go viral nowadays. Don’t believe me? Just look at Danielle 'Cash Me Outside, HowBow Dat' Bregoli now. Rule #2 - Money Tests You with Big Paydays Sometimes large amounts of money will be randomly bestowed upon you. This is only a screening, it wants to know if you can handle it. So if you ‘ball til you fall’, don’t be surprised when you hit the ground. Rule #3 - Money Is a Result-  Money is the result of value. When you provide value, you are rewarded with money – among other things. Rule #4 - Money Likes Stoicism-  The panicked lose money while the composed win, especially during an economic crisis. So for those