Financial Literacy: Uncovering The Untapped Potential Of Your Money Mindset

Your Money Journey: Lisa Sakai

Struggle With Financial Literacy:

Many people struggle with financial literacy, unsure of where to start or how to improve it. Financial education is a topic that impacts all aspects of our lives, yet many individuals find themselves lacking in this area. There is so much information out there and so many questions you don’t know even to ask. How can you put it all together? 

Financial Stress And Mental Health:

The correlation between financial uncertainty and mental well-being is a profound one. When we lack the necessary financial education to navigate our financial lives effectively, it often leads to heightened levels of stress and anxiety. The burden of not understanding how to manage finances can weigh heavily on our mental health, causing sleepless nights and overwhelming worry. Imagine trying to solve a complex puzzle without being given all the pieces; similarly, without financial knowledge, individuals may feel lost and constantly under pressure.

“The burden of not understanding how to manage finances can weigh heavily on our mental health, causing sleepless nights and overwhelming worry.”

Also, the absence of financial knowledge has a direct impact on how individuals make financial decisions. Without feeling like you have a solid understanding of concepts, you may find yourself making uninformed choices that could have lasting negative consequences. It’s akin to driving without a map or GPS – decisions are made blindly, leading to potential pitfalls and financial setbacks. This can lead to impulsive spending, accumulating debt, and missed opportunities for growth and financial stability.

Addressing The Lack Of Financial Education:

In a world where financial literacy is a crucial life skill, many individuals find themselves trying to piece together a financial education. This might be by googling or asking friends or advisors. Where you get your information and how you piece it together can be just as important as getting the information itself. Let’s look at some avenues. 

Importance Of Self-Education:

Embarking on a journey of self-education in financial matters can be a game-changer. Self-learning allows you to set your own pace, delve into topics that resonate with you, and continuously expand your financial knowledge. However, we just never know where to start. 

One thing I tell clients is start with just one financial article a week. Read it and then just be done. If you didn’t understand it, it’s ok. The more you read the more you absorb. Soon, these articles will make sense to you. 

“Embarking on a journey of self-education in financial matters can be a game-changer.”

Financial Literacy Through Community And Mentorship Support:

When I got married, my husband knew so much more about finance than I did. I asked him where he learned and he said that officemates and friends talked to him about finance so he learned from them. As women, we don’t do this. Why?

Maybe we are afraid that someone will judge us for not being perfect. Maybe we are afraid to admit we don’t understand some things. Or maybe we just don’t want to look stupid.

However, I think this should all change. The more we talk the more we learn. Share an article you are reading with a girlfriend and chat about as you chat about life. We can help and grow together; we just have to be intentional. 

Embracing A Journey Towards Financial Literacy:

I know we feel so behind sometimes when it comes to finance knowledge and it can make us feel ashamed. I felt that too many years before I started in this field. However, we have to decide to learn. I heard co-founder of Quest Bars, Tom Bilyeu, say that he identified as a learner. I love this and have borrowed it ever since. How do we do this exactly?

Want to know the difference between a Roth IRA and a Traditional IRA? Google it! Want to understand what a US Treasury Bond is and how it works? Google it! Need to know how to budget? There are so many good books out there that can teach you. You can even borrow from the library if you don’t want to spend money.

We have so many resources right at our fingertips and we don’t utilize them. Just decide that once a week, you want to read about something new. That’s all it really takes. 

“Every little step you take will create a huge impact for you in the future. “

Celebrating Progress And Successes:

We don’t celebrate ourselves enough. We always look at what we haven’t accomplished vs what we have. When you can tell your friend the difference between a Roth IRA and Traditional IRA without looking it up, you should acknowledge that you’ve grown in your financial literacy. Be proud of yourself. It’s ok to do that as women. Every little step you take will create a huge impact for you in the future. 

Embracing the journey toward financial education is the first step to a more secure and confident future. With education, we can start taking the steps to financial freedom. The feelings of uncertainty and inadequacy can be daunting, but remember that every expert started from scratch, including me but that is a story for another time. Utilize the plethora of resources at your fingertips—books, online courses, friends, mentors and financial advisors—to build your knowledge base.

Take control, stay curious, and watch as your financial confidence grows exponentially.

Please Note: The information in this material is for general information only and is not intended to provide specific advice or recommendations for any individual. Integrated Financial Partners does not provide legal/tax advice or services. Please consult a qualified legal/tax advisor regarding your specific situation.

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About the Author:

Lisa Sakai is a Financial Consultant who works with clients on Bucket List Acceleration and getting to live the life they want now. As the co-founder of One Vision Retirement, she has been working with clients across the country for over 12 years. Lisa’s advice provides easy to understand, logical steps and exercises that people can take action on right away. Learn more about Lisa Sakai here at One Vision Retirement.

Need help getting started? No sweat, set up a no-obligation, Get to Know you Call today: https://calendly.com/onevisionretire/gettingtoknowyou

One Vision Retirement. Your Path to Financial Independence with 20/20 Vision. Not sure where to start, take a look at a resource this resource: Baby Step Your Way to Financial Independence. Start with one of the 15 ideas listed and start to build on top of that. This will build you the home you want rather than looking at the ashes that remain.