How to Become Financially Savvy

“An investment in knowledge pays the best interest”

– Benjamin Franklin

 

Want to know what the secret is to generating wealth..?

 

Is it having the right tax structures in place? Is it working with a professional, independent financial adviser? Is it having a team of professionals to guide your financial decisions?

You might be surprised to learn that the answer from a recent University of Massachusetts survey is financial literacy. This is the secret to generating wealth. Knowledge! The study revealed that the more people know about financial markets and how they worked, the better off financially they would likely be later in life.

So just how does one improve their financial literacy..?

I’ve outlined my top tips for improving your financial literacy below, and don’t worry, it doesn’t involve watching financial news channels 24 hours a day, 7 days a week. Often these can create far more confusion about financial markets than any increase in financial literacy.

1. Subscribe to Personal Finance Blogs

Start finding financial advisers and personal finance experts whose articles you enjoy reading and subscribe to their blog, or follow them on LinkedIn. While you may not find every article relevant to yourself, you will quickly find that your financial knowledge base is growing.

You can check out more of my posts on LinkedIn and follow me here – https://www.linkedin.com/today/author/12072373

You can also check out and subscribe to my blog here – http://singapore.feebasedfinancialadvice.com/blog/

2. Attend Personal Finance Seminars

There are a number of great, complimentary personal finance seminars on offer in Australia and in Singapore. By attending a range of seminars of different topics, and taking advantage of the opportunity to ask questions about your own situation, you will quickly improve your financial literacy. There are many seminars on property investment, personal finance, Australian expat financial matters and many others. They can be an excellent source of information for you.

You can check out my range of complimentary seminars here – http://sjp.asia/singapore/events-in-singapore/events.aspx

3. Read Personal Finance Books

If you picked up a lot of personal finance authors and shook them, chances are not a lot would fall out. This is why it’s important to be selective when picking out which personal finance books to read. It can be a good idea to ask friends or your financial adviser for recommendations. Here are a few of my top recommendations to get you started:

  • Thinking Fast and Slow
  • The Richest Man in Babylon
  • The Millionaire Next Door

4. Utilise the Power of the Internet

These days we have an endless supply of information online at our fingertips. The danger, of course, is that there is at least as much harmful as useful information. It’s therefore best to proceed with caution when finding answers to your personal finance questions online, and of course, check your answers with a professional Adviser.

 

An investment in your own financial education will be one of the best you ever make. I hope you find these tips useful.

 

To your financial success!

Jarrad Brown is an Australian-trained and qualified Fee-Based Financial Adviser with Australian Expatriate Group of Global Financial Consultants providing specialist financial advice and portfolio management services to international and local professionals in Singapore.

Book a complimentary consultation here.

 

Jarrad Brown is the trusted fee-based financial adviser in Singapore working with professional expats in the region. An Australian qualified and experienced Financial Adviser, Jarrad provides specialist advice to Australian expats as well as other nationalities.

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