Blog Post One
What is Financial Literacy?
You’re probably wondering what to do with all your millions! So I’m here to tell you how to spend it, haha jk!
The truth is we spend 12 hours a day caring for patients and their bodily fluids and by the time we get home all we want to do is sleep. Yeah, we’ll watch our favorite YouTuber video or scroll through Tiktok and sometimes we’ll fall asleep to a Netflix movie. And the next day we repeat the same cycle while the men in Wall Street sit in their comfortable air conditioned offices making the big bucks. We are cluelessly working 12 hour shifts and not letting our money work for us.
This page was created to help nurses become financially literate. So the next time you walk into your human resource office, you won’t feel like a complete airhead when they speak about 401k, 403b, and IRAs.
So what is financial literacy? Well in a nutshell, its the knowledge that allows a person to make informed and effective decisions with all of their financial resources. And no, we are not talking about how to get the best deal for a birkin bag or how to get VIP tickets to a Bad Bunny concert. Although, if you can get a highly discounted birkin bag, then it’s probably a fake. And if you manage to swindle some cheap VIP tickets to see Bad Bunny shake his tail-feather, email me!
Back to financial literacy and all it’s intricacies. Money is like a game and it has a bunch of rules that you have to follow. Play according to the rules and you will become the master of your financial life. I am going to give you five rules of money to get you started as a novice financially literate nurse.
Rule number 1, invest in things you understand, therefore if you want to invest in stocks, cryptocurrency or real estate then you will have to do your research. Investing is very important! Here is the thing, you will never get rich by working for someone else. So you must begin to invest!
Rule number 2, debt is a powerful but a deadly weapon. The power of debt is underrated. There is GOOD and BAD debt. Bad debt is anything you know that you won’t be able to pay off. Good debt is the type of debt you will pay off. Getting into Good debt is a tool you can use to get rich. For example, you could consider getting a loan to start a business.
Rule number 3, think rich! Thinking rich is seeing yourself rich and acting rich. Essentially, you are playing the role of a rich person. Rich people are always looking to invest and learn new skills. Take one day out of the month to learn new skills that will make you money. Rich people know that learning new skills will help them see opportunities in places where they can make money.
Rule number 4, believe in yourself. There is nothing worse than not investing in yourself and believing in yourself. Confidence is the key to manifesting positive things into existence. If you want to become rich, then start believing that you can become rich. Life is what we make it and if you want to let others tell you how to spend your money, more power to you. But do one thing for me, look into your future with me, I’m talking about twenty or forty years from now once you retire, who is going to take care of you, financially?
Rule number 5, when you decide to become a business man or woman, always remember to pay yourself first. All too often when people become entrepreneurs they create a budget and track expenses and somehow forget to pay themselves. No matter what you decide to sell as a businessperson always remember to pay yourself first.
Well folks, this is just the beginning, so remember the next time an opportunity presents itself to learn more about financial literacy, don’t shy away from it. View it like a challenge that you will graciously conquer.
Until next time, future nursing millionaires!
