The masses seem to believe that the definition of “being rich” is “having a lot of money”.
They also think that someone driving a luxury car such as a BMW, Aston Martin or a Jaguar is rich & killing it.
The guy wearing that $6,000 Rolex watch would obviously be a millionaire, now would he not?
The answer, in most cases, is a resounding no.
The truth is that luxury cars such as the ones mentioned above are driven mostly by non-millionaires who might actually be living paycheck to paycheck.
The guy wearing the fancy watch probably would have emptied half his bank account in order to look rich.
The recurring theme here is that it is mostly the middle class which ov
Ah, the million dollar question: "What exactly is financial IQ?"
The sad truth is that if you happen to be asking this question, just by asking it, you have put yourself ahead of at least 90% of the world's population (so congrats!).
This is because most people are only concerned about earning money through their labor and then quickly spending that hard-earned cash on products or services which actively make them poorer.
Anyway, I believe Financial IQ is more of a process than a goal.
It is something only the affluent seem to care about.
Simply put, financial IQ is all about:
- Controlling your expenses & cash flow but most importantly,
- Helping you