Learning the Language of Personal Finance: Why Managing Money is the Key to Financial Success

In the personal finance space, the messaging is largely about growing wealth. Some of the messaging even promises quick fixes and ways to rapidly make millions. Many of the personal finance self-help books talk about millionaire mindsets, how rich people think, and ways to grow wealth.

When people come to me to work together, I rarely hear anyone say that getting rich will solve their problems. They come to me because they’re struggling to communicate with a partner about money, they’re overwhelmed by the amount of debt they have, or maybe they’re worried they won’t know how to pay an unexpected bill. Sure, having more money would be nice, but they see that doesn’t actually solve the problem they are facing – managing the money they earn.

Learning to manage your money is like learning a new language. In middle and high school, you likely were required to take a year (or more) of a second language. By the time you finished that year, you might have gained a few words or the conjugation of verbs, but you likely aren’t fluent. If you’ve never learned how to manage your money on a day-to-day basis, it will take time to learn. It won’t be a quick fix. It might take months, or even years, to feel confident in your skills.

Give yourself grace and take the time you need. Put blinders on to anyone or anything offering you a quick fix or a simple solution. Growing wealth will happen once you have a solid foundation for handling your money. First, learn the basics, then go from there.