What Is Financial Literacy And Why Is It Important

What is financial literacy and why is it important? To me, it is the number one thing that you are all lacking because I lacked it. It's knowledge. Let's just put a new word on it because it drives me crazy. I haven't been in the secret. Yes, I believe in the law of attraction, but it's also the law of action. You've got to do the right things. And then I added the words in The Millionaire Maker called sequence. You got to do the right things at the right time. Then there's this excuse that schools should be the ones teaching money. No, they shouldn't. They don't know anything about it. You have an English teacher, you have a math teacher, you have a Spanish teacher, you have a whatever teacher. They have their expertise. They are not money experts. I am. So here you are on my channel. I want you here five days a week. I want you to subscribe, click that notification button, and you are here to learn. It is a financial literacy challenge. So what is financial literacy? So what is financial literacy? Well, it's a combination of knowledge. So we're going to talk about a few things. So we're going to talk about just books, reading, and consumption of new knowledge. And I'm going to give you a path to walk down because if you pick a straddled path, which is what a lot of you are doing, you're going to end up confused, which means a confused mind does nothing. The next thing we're going to talk about is your action, the action ability. If you say you want to learn, you want to be financial literate, you want to do things, you need to come to events and experiences that cause you to do the behavior. Adults learn by doing, by the way, people learn by doing. So this isn't just about getting the brain knowledge and whether it's audio, whether it's an ebook, I don't care if you actually buy my books, like you actually, you know, go out and grab the Millionaire Maker. In fact, I'll give you a free copy of my ebooks down below. So grab it and study it, like study it, like it's a journal you have got to consume and you're going to be tested on. Like, that's how I want you to study it. I want you here on my channel like that. So financial literacy is knowledge into the right action. So I'm going to give you some events and free tickets to some stuff. And then again, talk about these two lanes. There's two lanes in money. There's the rich and the poor. Believe me, the poor lane's not saying, oh, we're going to get you poor. We're going to keep you poor. I'm just telling you they will. And it's proven. The last thing I want to share with you and talk about is then being mentored, being guided. I've been mentored and guided since I was 17 years old. I am now in my late 50s, so I haven't missed a year. Not going to miss a year. It's too important and things change. Business changes, money changes, new tax laws change, new estate laws change. You've got to stay current. You say, no, that's the expert's job. Therein lies your first problem. It is your job. This is you and your family's legacy, right? That's why I wrote this whole program. It's a three-day program. Legacy. Legacy is your heritage. You have to design it. It just can't happen to you. That's actually the problem. See, most of us just have what's called inherited legacy. We inherited whatever behaviors, good, bad, indifferent from our families or our friends. So here you have this batch of inherited behaviors. They're not serving you very well and you don't know where to turn. So first of all, you got to back up and say, why do I want financial literacy? Why is it so important? Because you need to understand enough to lead your team. This is your plan, your legacy, your heritage. You need a team around you that's actually going to integrate and talk, which is why I built the company the way I did. I was talking to somebody actually this morning. He said, oh my God, you sound like Robert Kiyosaki. And I said, I was part of the Rich Dad, Poor Dad team for five years. Let's talk about the lanes you need to stay in. There's rich and poor. So if you want to stay, and I'm going to use the word poor, but behind it comes stay safe, stable, out of debt and live in a little box. Super safety, which is not safe because they actually say, go invest in the stock market, mutual funds and bonds, which I would never ever agree to do that. So that is Susie Orman, Dave Ramsey, your traditional financial institutes. Yes, that's Schwab, that's Fidelity. That's all those guys. Now, do I bank there? Schwab, Fidelity? Yes, I got accounts in lots of places, many places as part of the strategy of the wealthy. The point is there is a path of the debt-free, stay conservative, stay in a little box. Why? I mean, debt is just the cost of money. Why wouldn't you arbitrage it and become a bank? So we are going to elevate you to the next level. So when I got into this 17 years old, so now I'm going to talk about that first topic, which is your books. I was given the book Think and Grow Rich. So if I had three annual reads, I would say Think and Grow Rich, Rich Dad, Poor Dad. And yes, I'm going to put mine right up there, The Millionaire Maker. Why? Because Think and Grow Rich is about your thinking at the most extraordinary level. Rich Dad is a story. Do you have a rich dad, poor dad? How did you grow up? Most people will say that we had a poor dad or poor family. You decide, and then I'm the how to. The Rich Dad, Poor Dad is kind of the why you want to do it because you can, and it's just different. It's not difficult. See, most of you have been taught that like becoming wealthy is complicated and the tax code is complicated and living corporate life's complicated. No, none of that's true. So you've got to read and stay in that lane. Bob Proctor's in that lane. So it's pretty easy. If you're being asked to live within your means, constrict, live on a budget, stay out of debt, you're in the poor lane. If you're being asked to stretch, to go for it, to grow, grow your income, grow your investments, it's okay to arbitrage debt. I want you in the right insurance. I want you to live corporate life. That's the lane of the rich. So I need you to get that distinction. Below in the links are two free tickets to my Millionaire Intensive. Come learn what's corporate life. That is financial literacy at its finest. Now, once you're consuming books, you want to then start going to these events, just like my Millionaire Intensive. I have a fast cash coaching call where you can come and learn how to make money really fast. Every one of you, if I could just embed a little chip in you, you all could make money today if you're willing to do what it takes. All of you. There's not one of you that couldn't make money today. You're typically unwilling to do what I ask you to do. So if you are not subscribed to my channel right now, we're gonna take a little pause while you grab those tickets and I want you to subscribe to my channel. Click that notification button and I want you here five days a week. Events are critical and then I gotta say mentoring is absolutely essential. So I've been mentored again since I was 17. I walked into a bank and I asked the president of a bank to mentor me. He's like, I don't mentor, young lady. What are you talking about? And I said, well, I want to learn how millionaires are made. They obviously put their money in banks, so I want to learn about banks. So mentor me about banks. He said, well, what do you want me to do? I said, every week I'm going to come. I'm going to have a whole list of questions. Just answer them. Explain them to me and then I can take that knowledge and I can keep going. He and I became best friends. Four years we had that relationship. I actually worked in the investment department for a while and then continued on. Bob Proctor was a mentor. Bob introduced me to his old Rolodex. See, mentors do three things. They connect you as fast as we can. And I can tell you this little Rolodex is quite lucrative. And then they help you avoid costly errors because they've already walked the path and they're not gonna let you bump into a wall and get bruised, right? You might bump into your own walls, but you're not bumping into my walls. The other thing is they help you avoid costly, costly errors, right? Huge, costly errors. And they help you make huge leaps. 10 and 100X of your businesses. We see what you don't see. We have a different level of experience. Cannot imagine you wandering around out there without a mentor or a guide. So call it however you want. I also like to use the word advocacy. So what I'm going to do is advocate for you and your family. This is your plan, your life, your legacy. Why are you letting your accountant, your lawyer, your estate lawyer, your people put you into their box? They need to fit into your box. You say, well, I don't have a box. That's where the mentoring, the events and the knowledge comes. So financial literacy, in my opinion, is one of the greatest skills you'll ever give yourself. I'm going to teach you to fish. I'm not doing it for you. You're going to learn. You're going to dig in. So if you want to roll up your sleeves and get to it, I'd love to help. If not, say poor. You can't fix lazy. Pick who you want to be and get on a path. And if you have all sorts of problems, I have this saying, actually I have a t-shirt. You can get it from my merch store. It's super cool. It says, so what now what? So what that'll happen to you? So what you grew up I swear God put me in a woman's body, number one, because I've been a very male dominated world. Then I became a single parent. Like I couldn't have any more challenges than all of you. So if I can survive them and I can help tens of thousands, hundreds of thousands of people survive them, you can survive them. If you have any questions, want to lean in, go to askLaurel.com. A-S-K-L-O-R-A-L. AskLaurel.com. Ask a question, make a request. Be here every day. I'll be back tomorrow with another message.