Myths About the Financially Educated

You must be a Math Whiz.  Women are money-dumb.  I must buy some stocks right now to start investing.  Let’s clear the air about some myths on being financially educated.

First off, you don’t have to be a Math whiz to plan your finances.  You just have to have the patience to look at numbers.  

Of course, if you really dislike it, you could always look for a good financial planner.  I choose to do it myself because I always believe that no one else will help me look after my finances better than well, myself.  Do your research though before settling on whom to be your financial planner though.  And never trust him or her with all your money.

Women are not money-dumb.  Women tend to be perceived as more “switched off” when it comes to anything linked to money, but I beg to differ. 

I know girlfriends who seem to think that anything to do with money has to be their husband’s domain.  However, I sincerely feel that women, being the ones closer to the home front and the children, are in the prime position of making a difference in everyday money decisions and do play a critical role in imparting the right values to the children on money matters. 

You don’t need to feel that “I must do something now!”  Hold it…learn first.  If it takes 14 years of education before one can graduate from university, I think patience is justified if we want to invest our hard-earned money in anything.  

Never plunge head-long in an investment without understanding how it works and the risks involved.  Sometimes, it’s amazing how much more time we spend agonizing over which bag to buy than over what unit trusts to invest in!

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