• Follow us

Women

I Don’t Know and That’s Okay

financial literacy

Just because someone has money doesn’t mean they understand finance.

Money plays an important role for everyone in the developed world, but financial literacy is unevenly distributed. Business schools offer the only formal education on the topic, but they generally can’t connect the subject matter to the real world or the students’ personal lives.

People are drawn to investing as a vehicle for building wealth over time. By stashing money away for later, they can more easily free themselves from the stresses of work-life balance.

But investing is a detail-oriented pursuit with real risks attached to it. It takes a lot of time to build up the kind of knowledge for someone to make and evaluate trades. Succeeding here takes quite a bit of work, and some are happy to avoid it.

That’s why investing is commonly seen as the domain of boring elitists. The on-ramp to fluency here is intimidating, especially if someone is already succeeding at their day job. But investing doesn’t scream universal mainstream interest, so many have cultivated a specific lack of interest in it.

But don’t let terms like dollar-cost averaging or EBITDA scare you out of learning how to master your money. It’s okay to be vulnerable and ask for help building a more comprehensive understanding of how investing works.

Your financial education has to start somewhere.

Consider the words of hedge fund superstar Ray Dalio: “It is far more common for people to allow ego to stand in the way of learning.”

It’s okay if you don’t understand niche financial terms, but it’s not okay to block them out and pretend they don’t exist. Read a book, talk to people you trust, and take conscious effort to build financial self-awareness — what do you already know, what don’t you know, and what do you wish you knew? The answers to these questions can form the basis of your self-education.

But investing is not strictly an issue of education, but one of curiosity. The best investors combine their knowledge with calculated timing to buy and sell at a profit. Curious people get to develop and test strategies that can lead to financial independence, a goal that anyone would want to achieve.

The only way they learn this is by putting in time in advance, studying the market, and looking for patterns to capitalize on. This gets us to the old truism about daily life that surely applies to the investing world.

Time is money.

Even if you don’t understand the world in terms of money, then you can surely understand it in terms of time. We live our lives for the 30-minute commute, the eight-hour workday, and the three-day weekend.

Everyone views reality through a so-called “time horizon.” Some people think on weekly terms, others might plan monthly. So many people operate on a kind of autopilot, collecting income each week to pay bills each month without a need to look farther ahead than that. But the finance world requires a much bigger time horizon — think five years or longer — for those operating strategically within it.

There is short-term money to be made here and there, but the strongest financial plays are usually long-term engagements that require care and attention. Investing requires your time and your money, and that’s probably why it’s an intimidating prospect to so many people. They let that intimidation drive them out of the game.

Headlines about businesses booming and busting aren’t going away any time soon. What if you understood those headlines in a way that let you make more money?

Get comfortable enough with yourself to embrace not knowing something, but don’t let the work end there. If you’re smart enough to identify the gaps in your knowledge, then you’re sharp enough to fill them too.

About the Author

Jessica Merrell is one of the co-founders of 81-C, a company that’s pioneering entrepreneurship as an asset class enabling anyone in the world to invest in businesses that would typically never be available to the public. As an entrepreneur, she’s successfully led startups and mid-market growth companies by creating teams and processes that maximize value through gained efficiency. She is also a philanthropist, and believes that enjoying your life and being successful are not mutually exclusive. With her entrepreneurial mindset, she is actively working to create opportunities so others can achieve this balance.

I Don’t Know and That’s OkayRead More



Leave A Comment

More News

Women on Business

Major Benefits of Outsourcing to Commercial Cleaning Services 2019-03-12 09:09:19Brought to you by America’s Cleaning Service LLC: Both business owners and employees generally spend most of their waking hours at work, so the

How Business Women Can Beat Imposter Syndrome 2019-03-08 22:53:20Today is International Women’s Day, so it seems like an appropriate time to reflect not just on topics like the gender pay gap and gender inequa

Getting the Most from a Diverse, Mixed-Age Team 2019-03-06 18:37:41Recently, a colleague asked me about my company’s diverse, mixed-age work environment — known for being upbeat, effective, and welcoming f

Women Hold Less Than 25% of Seats on 2019-03-05 21:10:37Despite all of the attention that the lack of diversity on S&P 500 boards has been getting in recent years, there is still a significant gender ga

Women as Ethical Hackers – Seize This Growing 2019-03-04 12:26:49Brought to you by Simplilearn: The number of cybersecurity breaches is growing rapidly with new hacking reports hitting the news cycle all the time. T

How a Magazine Can Help Increase Your Sales 2019-03-03 13:01:50As a business, you should always be ready to go that extra mile when it comes to improving sales. Owning a business magazine or starting your own busi

I Don’t Know and That’s Okay 2019-03-01 21:50:40Just because someone has money doesn’t mean they understand finance. Money plays an important role for everyone in the developed world, but fina

Why an Accounting Career Works for Women 2019-02-28 22:10:50Brought to you by Coursesonline.co.uk: The number of women in the accounting field has exploded in the past few decades. In the 1990s, the participati

Mindsets You Must Have To Be Successful Working 2019-02-27 21:39:06You must consider what kind of mindset to have in order to be successful working at home. This translates to “getting your head right” wit

5 Challenges a Successful Business Woman Can Solve 2019-02-26 09:02:33Brought to you by MightyCall: For female entrepreneurs, time management and privacy are at the top of the agenda. Though the rewards of being a succes

5 Things Companies Can Do Now to Make 2019-02-25 09:08:16Brought to you by Bayzat: Women have always been central to labor, both in public and private lives. But their contribution has not always been apprec

Top 5 Reasons You Should Hire Professional Cleaning 2019-02-22 22:29:45Brought to you by America’s Cleaning Service LLC: A clean environment is not only necessary for a business to thrive; it’s also pivotal fo

The Pioneer Woman

Heritage Floral Giveaway by The Pioneer Woman 2019-03-14 13:43:38Hi, Friends! I’ve missed you here on the Giveaways section, but am ready for some great prizes this spring! Today, because I love ya, I’m

Antonyms Quiz: Answers and Winners! by PW Fun 2019-03-14 12:34:33Way to go, word nerds! Many of you only missed one or two questions. That quiz was a bit of a challenge, so you all deserve a round of applause!  

Swoop, Snow, and Other News by The Pioneer 2019-03-13 14:31:09Hi, friends! HUGE news. I mean, monumentally globally relevant news. Okay, not really globally relevant news. Okay, not really monumental news. Okay,

Antonyms Quiz: Tonight! by PW Fun & Learning 2019-03-11 12:49:19   

Elevating Ranch Dressing by Natalie 2019-03-11 06:00:01Ranch dressing was an icon of my childhood. Was it one of yours? It just NEVER. GOT. OLD. And honestly, I still feel like a 6-year-old trying to put r

True or False Trivia Quiz: Answers and Winners! 2019-03-08 14:40:01Great job on the quiz, everyone!   Here are the stats, answers, and winners.   STATS 1,475 people took the quiz. 245 people scored 100%! The

True or False Trivia Quiz: Tonight! by PW 2019-03-06 16:33:55   

I’m Goin’ Back to Cali…Cali…Cali… by The Pioneer 2019-03-04 19:02:44I have been in Los Angeles for the past week shooting a show for Food Network, and because I can’t be away from home for very long before my eye

Coconut Oil 101 by Erica 2019-03-04 06:00:29What is coconut oil? Coconut oil is simply an oil that is extracted from the meat of a coconut. This can be done a few ways, such as cold pressing, ex

Phyllo Dough 101 by Bridget 2019-02-25 06:00:50Phyllo, or filo, dough is puff pastry’s Greek cousin. They’re both known for layers of dough. While puff pastry is created by incorporatin

Analyze THAT! by The Pioneer Woman 2019-02-21 10:49:33I was awake at 2:00 am last night for no reason, then finally drifted off to sleep again at 3:30. As often happens following a middle-of-the-night bou

Oscar Winners Quiz: Tonight! by PW Fun & 2019-02-18 14:33:57   

Allure

Emilia Clarke Opens Up About Brain Injuries, Announces 2019-03-21 14:07:27Game of Thrones star Emila Clarke just announced the launch of her new charity, SameYou, which seeks to provide care and rehabilitation to those who u

‘Strangers Things 3’ Trailer Shows Eleven Wearing Hopper’s 2019-03-21 13:17:34Netflix dropped the new 'Stranger Things 3' trailer, which shows that Eleven is always wearing the blue hair tie that once belonged to Hopper's lat

BTS's RM Mattel Doll Features RM's Iconic Dimple 2019-03-21 12:48:20Stop what you're doing: Mattel has just released its first look at the sure to be bestselling BTS doll series, with a sneak peek of RM's dimple. Fin

Whole Foods Is Giving Away Free Clean Beauty 2019-03-21 12:00:00Whole Foods is giving away free clean beauty products. The swag bags will contain clean beauty products from brands like Weleda, Yes To, and Alba Bota

Kris Jenner Shares Rare Makeup-Free Selfie and Fans 2019-03-21 11:53:12Kris Jenner just shared a candid makeup-free selfie on Instagram where she's getting a haircut from longtime friend and hairstylist Chris McMillin. S

Carrie Underwood Responds to Idea of ‘Bouncing Back’ 2019-03-21 11:37:51In a heartfelt Instagram post, Carrie Underwood promised to appreciate the things her body can do after pregnancy instead of focusing on what it can'

Pixi by Petra Glow Tonic Available in Limited-Edition 2019-03-21 11:00:00Attention, folks: Pixi by Petra's infamous, best-selling Glow Tonic is available in a limited-edition 500 mL size, but for today only. Find out where

Bella Thorne Poured Beer on Her Hair to 2019-03-21 10:46:27Bella Thorne posted a video to Instagram in which her sister, Dani, helps pour beer over her hair. Thorne says she's doing it to help lighten her hai

6 Wig Mistakes People Make and How to 2019-03-21 08:30:00Hairstylist and star of BET's "Wig Out," Cliff Vmir imparts his wig wisdom to Allure writer Shammara Lawrence for Lace Frontier. Here, Cliff discus

The Most Expensive Perfumes in the World 2019Y 2019-03-21 08:00:00In honor of National Fragrance Day, Allure rounded up 14 of the most expensive and iconic fragrances from around the world. From House of Sillage to S

13 Makeup Primer Alternatives That Give You a 2019-03-20 17:31:56If you're someone who tends to be averse to traditional makeup primers, you've come to the right place. Allure tapped several makeup artists and bea

Lupita Nyong'o Wears a "'Fro Bow” — See 2019-03-20 17:31:55The star of Jordan Peele’s thriller “Us” was seen on Tuesday morning with a head-turning ‘fro bow styled by hair genius Vernon


Disclaimer and Notice:WorldProNews.com is not responsible of these news or any information published on this website.