Basic Financial Literacy
The Poor The Rich and The Bank – A Story about basic financial literacy
Since the year 2006 my eyes have been open to the fact that most of us in the Caribbean have been deprived of basic financial literacy. I have a deep passion for this to be changed because I have seen first had what a lack of basic financial literacy does to the people of our region.
1. A bank is a broker between the poor and the rich.
2. The common place where the two meet is in a bank.
3. The poor brings the money in form of savings.
4. The rich takes it, through borrowing.
5. A poor person saves the money because they have more money than their thinking capacity.
6. They keep the money in the bank so they can go and think of what to do with the money they have saved.
7. On the other side, the rich people come to pickup that money, through borrowing, because they have more ideas than the money they have.
8. On a practical side, please who can show me one billionaire who got rich through saving?
9. I will show you a millions of people who have money saved in the banks and are still renting the houses that the Millionaires and Billionaires build through the poor people’s savings which the rich borrowed from a bank.
10. I have now realised that the best savings and interests are acquired through investments and not savings.
11. It will surprise you that the only money that the rich allow in their account is a minimum balance to keep it alive.
Most of the cash they have is either on one investment or another.
12. Take a risk in your life, if you fail you will learn and if you succeed you will be a good example to others.
13.The only shame you must avoid is to have shame.
14. You must know that all Millionaires and Billionaires you see today were once starters.
Decide today to remove that money from your account and look for an investment to reap twice or more in due course. I have done a video on these principles here where I drill down further. You can view it here.
Please use the contact me form here to send me a message if you would like to know more about the investment method that has allowed me to reap great success and have something solid as an example of what basic financial literacy can do to change lives.