How to increase your financial IQ during traffic?

Written by David Angway RFP, CWA, CIS

The economic cost of traffic mayhem is devastating in our country today and no one knows when it will end. Economic Planning Secretary Arsenio M. Balisacan has said the economic cost equals $3 billion a day.

The sad part of it is we lose that much money forever.

Traffic jams wear us out physically and often mean the loss of quality time with family, deny everyone sufficient rest and certainly very inconvenient.

While most people fret, whine and complain in their car seats, idle times like these actually present opportunities for people to learn something new and worthwhile. There are ways to increase one’s financial IQ when one is stuck in traffic.

Read e-books that talk about business

There are hundreds of downloadable documents, magazines, books, and piles of information available online. They dwell on investing, saving and money management. Use the leverage of technology and time to help you get smarter than a fifth-grader.

Listen to a podcast

Phone applications are way more popular now and podcasting is gaining prominence even among the nondigital natives.

Listen or watch YouTube tutorials

Write your thoughts about your finances

Financial products won’t solve 100 percent of your problem in finance, but self- awareness is going to free you from things you don’t know about yourself. Take notes or type your ideas in your laptop.

Have a broader view of what your finances will look like this year and of the breakthroughs you expect to happen. Make the necessary adjustments to handle it.

Download an app so you can monitor your finances

One good thing about these applications is they help you evaluate your finances. I love numbers since they don’t lie. They tell you something.

If you see that your budget is in jeopardy and begins to get out of hand and way beyond your weekly limit, learn to cut your wants and prioritize your needs.

Check websites on personal finance

Financial web sites are effective in spreading new stuff about practical applications and the principles behind the popular blogs, articles and quotations should inspire you to be resolute move forward.

Bring a book

This is my personal favorite. Business books give me a sense of accomplishment. I can highlight the important points and prevent my phone from draining its battery.

Excuses can make you weak. Never fell into that trap. Traffic can prove worse in the coming years, but I also believe that if you want to make some progress in your life, career or personal finance, change your mental perspective and, perhaps, do the unthinkable.

Disclaimer: The views, information, or opinions expressed in this website are in my opinion only and do not necessarily represent those of Registered Financial Planner or Sun Life of Canada Philippines and its employees.”

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