We often hear people say, “I’m just not good with money.” Perhaps it’s you that has uttered the phrase once, twice, or a hundred times. 

You’ve reluctantly accepted that dealing with your financial situation is not your thing. 

But here’s something that I want you to consider. This self-deprecating belief might be due to your current state at the beginning of your financial journey. 

Remember, your financial literacy is only going to get better by moving forward and doing the work.

In this article, we’re going to guide you on how to evolve your mindset and gain the necessary skills to manage your finances.

We’ll do this through a relatable example that will draw parallels with everyone’s favorite thing–Food!

Before we delve in, I want to let you know that it’s alright to be a beginner. Everyone starts somewhere, and it’s important to understand that progress can only be made one step at a time. You can’t expect to become an Olympian the first time you dip your toes into water. 

The Cooking Analogy

Let me begin with a story about my experience with cooking. 

I used to be clueless in the kitchen. It was disastrous! Even the simplest task of frying something in a pan was a nightmare; the food would always stick. And guess what? 

…it was my impatience. 

I wanted everything done quickly because I was hungry. Can you relate? 

In hindsight, it’s rather amusing. I was like a hangry Hulk, refusing to wait and only wanting to devour whatever was in sight, as soon as possible. But it wasn’t until I learned that you actually have to develop the patience and wait for the pan to heat up BEOFRE you start cooking. That’s the trick to not sticking food to the pan. 

You might think that learning financial literacy is like whipping up a 3-star Michelin meal. But here’s a gentle reality check. 

It’s more like I’m just urging you to figure out how to scramble eggs without it sticking to the pan or boil an egg without losing half of it while peeling. 

It’s about grasping the basics. The fundamentals! 

Putting it into Perspective for Financial Literacy

Transitioning this cooking fiasco to the realm of personal finance, we realize that most people are oblivious when starting off. 

We barely understand how things work or what the words even mean, and there’s an overwhelming amount of information available on the internet. That’s when panic stops us. Our brains just shut off, pushing us into a state of hopelessness and feeling completely overwhelmed. Rightly so, I might add. It’s a fuck ton of information. 

This mental reaction is unusual because when faced with difficulties in other areas of life, we willingly attempt to learn new skills.

Tell me how many times you’ve thought, ‘Okay, I don’t know how to do this, but I’m sure I could learn it.’ Like… maybe as simple as brushing your teeth? You didn’t know how to brush your teeth as a child, it was something you had to learn. 

And, I’m certain most of you didn’t just go off saying,”Oh well, too hard. I’m just not going to brush at all, ever again.” I mean, who can afford the dental bill these days? Similar to personal finance, it costs you more in the long run by NOT learning the basics. 

Yet when we consider personal finance, we mysteriously abandon those learning instincts.

Some individuals prefer avoiding the topic altogether. I’ve come across families that take collectivism to a whole new level by collectively burying their head in the sand. 

They choose to ignore it, shut their eyes and on the basis of wishful thinking alone, they hope for the best. Where’s the spinning eyes emoji? 

Learning from the Basics

The space of personal finance may seem alarming and your concerns are justified. It’s a vast field with intricacies that even professionals in the industry continuously learn about.

But note that you don’t need to sign up for a PhD in finance. Your goal is to have a grasp of the basics and fundamentals, the core tools that will allow you to navigate life with a little more ease and certainty.

Whether it’s learning how to budget, understanding the basics of investing, or finding innovative ways to get out of debt, it’s important to demonstrate kindness and be realistic with yourself. Self-compassion is crucial in this game.  

You must believe that it’s possible to reach the other side, where the uncertainty and financial traps are replaced with security and success.

The shift happens once your awareness leans towards being open to learning rather than striving for immediate mastery. Be ready to fail! 

You don’t need to rush to create the lavish Michelin star meal. But if you do, please invite me over! Let’s first learn how to boil that egg!

Resources & Practical Advice

For those of you who feel the constant need for guidance, help is always available. My DMs are always open. Read books, tune into podcasts, explore resources available to you. Your priority should be to learn, not to master. Try to acquire knowledge step by step, one element at a time.

If you’re interested, my book, ‘Financial Literacy for the 99%’ is available on Amazon for less than $10. It’s an enjoyable starting point for you to gain fundamental knowledge and begin your journey towards financial literacy.

Remember that progress will be slow in the beginning, but every tiny baby step you take gets you closer to your goal. It does wonders when you step up to conquer the challenge that is financial literacy.

Final Thoughts

The ‘I’m not good with money’ mindset is a stereotype that finds its base in people being overwhelmed by the complexity surrounding personal finance. But, just like my cooking journey, this limiting belief can be broken down, and you can learn the basics to overpower it. 

We don’t need to be financial gurus, but having essential financial skills equips us better for life ahead. So, are you ready to step into the kitchen of personal finance, roll up your sleeves and boil that egg? Let’s begin!