What’s your Financial Intelligence Quotient (F.I.Q.)?
Do You Know Your F.I.Q.?
Do you know your financial vital signs?
According to psychologists, there are three types of intelligence
- Intelligence Quotient (IQ)
- Emotional Quotient (EQ)
- Social Quotient (SQ)
I’ve added two to these 3 to make 5, and we will discuss that in a second.
- Intelligence Quotient (IQ): This is the measure of your comprehension ability”, solve maths; memorize things and recall subject matters.
- Emotional Quotient (EQ): This is the measure of your ability to maintain peace with others; keep to time; be responsible; be honest; respect boundaries; be humble, genuine and considerate.
- Social Quotient (SQ): This is the measure of your ability to build a network of friends and maintain it over a long period of time.
People that have higher EQ and SQ tend to go farther in life than those with high IQ but low EQ and SQ.
Most schools capitalize on improving IQ levels while EQ and SQ are played down.
A man of high IQ can end up being employed by a man of high EQ and SQ even though he has an average IQ.
Your EQ represents your character; your SQ represents your charisma. Give in to habits that will improve these three Qs but more especially your EQ and SQ.
EQ and SQ make one manage better than the other.
Please, don’t teach children only to be IQ but also to be EQ and SQ.
Now, there are other two that most people don’t talk about and those are:
The Adversity Quotient (AQ) and Financial Intelligence Quotient (F.I.Q.)
- The Adversity Quotient (AQ): The measure of your ability to go through a rough patch in life and come out without losing your mind.
AQ determines who will give up in face of troubles, who will abandon their family, or who will consider suicide.
Expose children to other areas of life than academics. They should adore manual work (never use work as a form of punishment), sport, and art. Develop their EQ, SQ, and AQ.
They should become multifaceted human beings able to do things independently of their parents.
Finally, do not prepare the road for the children. Prepare the children for the road.
Now, the 5th one. This is not taught in school, and if you want to create wealth, this is the one you seriously need.
- The Financial Intelligence Quotient ( F.I.Q.)
WikiPedia defines Financial Intelligence as Financial intelligence (FININT) is the gathering of information about the financial affairs of entities of interest, to understand their nature and capabilities, and predict their intentions.
Generally the term applies in the context of law enforcement and related activities.
Forget the above definition.
Let’s define Financial Intelligence in a very simple term.
It is an act of you understanding money. Period!
If you want to create wealth, then, you must understand money because what and who you know will determine how far you will go in life.
As one of my mentors (Dr. Olumide Emmanuel) would say;
If you are not informed, you will be deformed.
If you are not updated, you will be outdated.
If you are not inspired, you will expire.
If you are not in the know, you cannot be in the flow.
The road to financial freedom involves three steps. They are Financial intelligence, financial planning, and financial discipline. Financial intelligence means that you must understand money.
So, let’s start with your F.I.Q.
Do you know your financial intelligence score?
In this episode of Money Mastery, we checked our pulse. Yes! we checked our financial vital signs.
Play the video below now, watch the episode and do the test for yourself. Make sure you keep your result safe because you are going to need it later.
Click here to download your copy of the financial intelligence test.
Don’t forget to like this post, leave your comment and share with as many people that you know. Let’s join arms to educate ourselves financially.
If our Forefathers have failed us then we cannot afford to fail our Descendants.