As one of the wealthiest countries in the world with an abundance of opportunity, we have one of the worst financial literacy scores in the developed world. We believe this comes down to the lack of wealth education in the learning syllabus which means that most of us learn from those around us. Unfortunately, learning from the experience of our family, friends or peers can result in only having a limited understanding of money which can force us to make biased decisions when it comes to navigating life’s complexities.
With this in mind, most people do the following;
- Stick to what they know and have always done expecting the same results will continue to occur- we call this one trick pony syndrome
- Be burned by what they have learned and never take action because of it- an example is those who dislike the share market because of stories they heard through the GFC
- Those who are paralysed by fear and wait for ‘the right time’- we call this chicken little syndrome
In all of the above, we believe this can be fixed through helping educate people around what they are really working towards in life. With this in mind, we created The Wealth 101 Academy- an industry first online wealth and finance education portal that allows you to learn all about money, wealth and finance in a simple and easy format, learn how to start taking action yourself and give you the tools you need to make better financial decisions based on proven principles sourced by leading and award winning financial experts.
For more information on The Wealth 101 Academy please check out www.wealth101academy.com