Over the last couple of weeks, I’ve came across a number of twitter threads by tweeps, who have started their journey to having a better relationship with their money. From becoming debt free to buying shares and properties. LOVELY! Among these positive tweets, I noticed something that was common among all these tweeps. The importance of having a teachable spirit when it comes to your money. Let that marinate, while I elaborate.
The willingness to learn, to listen, to ask, to research, to question and to translate this into positive financial habits is to have a teachable money spirit. It’s ironic though, that something as important as money, gets so little attention from the same people who utilise it. We know everything about anything, but very little about money. That’s why a teachable money spirit is important and it all begins with having money goals and making a conscious decision to start working on your money relationship. A decision to save, to invest and to spend less than you earn. The goal of becoming debt free, purchasing your first property and share or saving for an amazing holiday. Your goal, your decision.
Learn, listen, ask, research and apply it to your money. Read a lot of personal finance books, we have some amazing and relatable South African authors like Warren Ingram, Maya Fisher-French, and Phumelele Ndumo, just to name a few. Listen to the various money shows on radio like the money show on 702. Attend the various free personal finance events like the Take 5 series hosted by Nedgroup, the ETF investment seminar by ETFSA and Youth Money circle events. Use free money management apps like 22Seven to help you to budget and to start owning the market through Easy Equities. Start following personal finance commentators and visiting amazing websites like Just One Lap.
It’s all about making an effort. There is no single way to cultivate a teachable money spirit. You have to define what you want your money to do for you. A teachable money spirit begins with having a money goal and making a conscious decision.