Financial Intelligence

Financial intelligence is simply having more options. If the opportunities aren’t coming to your way, what else can you do to improve your financial position? If an opportunity lands in your way lap and you have no money, and the bank won’t talk to you, what else can you do to get an opportunity to work in favour? If your hunch is wrong, and what you have been counting on doesn’t happen, how can you turn a lemon into millions? That is financial intelligence. It is not so much what happens, but how many different financial solutions you can think of to turn a lemon in to millions. It is how creating you are in solving financial problems.

Financial intelligence is made up of 4 main technical skills:

1. Financial literacy i.e. ability to read numbers.
2. Investment strategies i.e. science of money making.
3. The market supply and demand.

Alexander Graham Bell gave the market what is wanted. So did the Bill Gates. A $ 75,000 house was offered for $ 60,000 that cost $ 20,000, was also the result seizing an opportunity created by market. Somebody was buying and somebody was selling.

If you are a kind of a person who is waiting for the “right” thing to happen, you might wait for a long time. “It’s like waiting for all the traffic lights to be green for five miles before starting the trip”

“The rich makes money. The more real you think money is, the harder you will work for it. If you can grasp the idea that money is not real, you will grow richer faster.”

4. The law.

It means the awareness of accounting, corporate, state and national rules and regulations. The author recommends playing within the rules.

These 4 technical skills are the basic foundation or combinations of these are required to be successful in the pursuit of wealth. (Whether by buying small houses, large apartments, companies stock, bonds, mutual funds, precious metals etc.)

Three main management skills needed for financial success are:

1. The management of Cash Flow.
2. The management of systems( including yourself and time with family)
3. The management of people.

(Excerpt from The Rich Dad And Poor Dad)