I have been thinking of writing this subject for a while now – I have been doing much reading about the ways to have a secure financial future and most important I have been looking at my own financial position especially where I am right now
Financial books I am reading to help increase my Financial IQ
I looked at my Balance Sheet and thought how I could guide my children to build their own Balance Sheet more efficiently and not make the mistakes I have made so that they can short circuit their way to a strong Balance Sheet.
Some of the mistakes I have made in my fifty something life so far is
- not building my balance sheet early in life as what you measure you can manage
- not understanding fully the power of compounding
- not understanding the effects of costs relating to mutual funds and financial planners as I feel my returns are being significantly reduced because of this
- not building a budget early and monitoring this on a monthly basis
- not implementing the things I have learnt over the years to make the management of building a strong balance sheet more automated- so using smart technology to automate the mundane tasks that this process of building a strong balance sheet may entail
- have a structured education path for my children – something I did not get in my social life ( learnt rather in my University education)
So if you want to teach your kids by learning from my journey through a structured education path as well as from people with knowledge and experience in building a strong Balance Sheet – then join me on this path as I am very excited as the end product of this journey is your well educated children as well as getting your own financial position strong and organized.