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However, everyone must still "count their beans" at regular points in time, eg, end of financial year for tax purposes, applying for loans, grocery shopping, paying your bills, etc, to better understand the state of their respective business and personal financial health.
Being able to successfully bridge that huge knowledge and expertise gulf can be extremely daunting for anyone unfamiliar with the art of financial wizardry.
The bridge and its structural strength analogy here, represents your level of financial literacy, competence in financial management, and the gulf is the consequential "black hole" into which you may potentially fall due to errant financial management, or even worse, intentional or unintentional financial mismanagement.
When you hear terms like - budgets, balance sheets, profit and loss statements, cashflow forecasts, bookkeeping, assets, liabilities, working capital, operating capital, gross sales, cost of sales, gross profit, operating costs, net profit, return on investment, depreciation, amortization, compounding interest, taxable income, and the list goes on ... do you nod wisely because you know what those terms mean, or are you confused and then nod off in ensuing boredom?
If you nodded wisely, you probably already possess a reasonable to higher level of financial literacy.
If you are in the other camp, then you have much to learn to attain a competent level of financial literacy.
Summing up, the key to "Monetary Figures Making Sense" is "Financial Literacy" and the key to astute "Financial Management" is "Financial Literacy".
We are proudly affiliated with "The FIQ Project" which is on a mission to improve and enhance "Financial Literacy" within the general community, especially the sectors encompassing the disadvantaged.
They are actively developing educational pathways and creating opportunities in association with both public and private sector organizations to foster their "Financial Literacy" for all mission.
To find out more and potentially add your supportive voice, you can contact the author directly on MD-Dakeyras@bigpond.com and also click on the following links: https://fiq.net.au/our-offering/
Contact
Dakeyras Consulting
M: +61 438 748 698
Virtual
PO Box 9117
Wynnum Plaza Queensland 4178
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