When we learn, we go through specific steps. From this framework, we will focus on how to learn and build a foundation for personal financial planning. The learning process works the same regardless of the knowledge gap you may have.
You begin by assessing where you are now. In this case, you may admit that you know very little about financial planning. You may assess that all you know about is that you have a checking account at a bank and a credit card in your wallet. Whatever your current state, you have to be honest about where you are.
Next, you set goals for what you want to know and what you want to accomplish. For example, if you are not sure what impact having a credit card can have on your personal finances, then set a goal on how to learn this important piece of information.
From there, you determine how you will achieve this learning or action. It might require that you go to the bank and talk to a personal banker about what is important to know, or you may do internet searches to find out information.
Then you take the action to accomplish this plan. You either get onto the computer, or you actually get into your car and you go to the bank. You may even go to several banks because when we learn, we know that some teachers help us more than others, therefore, you may want to see what messages they have in common or if someone in particular helps you to understand better.
Finally, you may make changes to how you handle your credit card and you may discover a wonderful way of keeping track of information about your credit usage. This could be something like a credit card usage formula that gives you feedback so that you can always measure where you are in appropriate usage of your credit card.
This continuous learning process is important over your lifetime of personal financial decisions. Do not be afraid to learn. Being able to learn, being open to learning lessons in proactive ways is important to your future success!
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