iImagine an ad campaign for a new money program offered to teach principles so you can enjoy, save and give money… sounds good so far, right? Maybe. The first step is to enjoy money – doesn’t that require there to be some to enjoy? If so, then somewhere along the line some money had to be earned, right? Saving – what for? This is a severely misused financial word – saving. Saving is for a short-term purpose where money is held fairly static. Investing, on the other hand, is the process of getting your money working for you. When this happens, financial independence becomes the goal rather than ongoing continuous adding to a big pot of money.
A more thorough plan would likely be: earn, manage spending and saving, invest, give, enjoy.
A simple way to expand your financial knowledge is to get curious about the words we use on a daily basis to describe money related issues.