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Johannesburg - Money is not the answer to your money woes, but financial literacy is, according to The Wealth Chef CEO Ann Wilson.
"A little bit of financial education ... understanding how money works solves money problems".
Wilson says a shocking 80% of people who experience a sudden influx of money, for example winning the lotto, end up in a worse financial position than before they received all those funds.
She attributed this to a "faulty money flow".
"If you've got a faulty money flow pattern, more money will just magnify (it).
"Your income and your expenditure are like the river flowing through your life - how money flows in and how money flows out - where as your assets and your liabilities are like the river bank.
"They are the results of what you do with that income and expenditure," said Wilson.
"Money is just an energy, it just flows through our lives ... it either creates money hell or money heaven."
Watch the video to learn how to get your money flow pattern working for you:
- Fin24
Consider yourself a savings hero? Or just have something on your mind? Add your voice to our Savings Issue:
* Write a guest post
* Share a personal story
* Ask the experts
"A little bit of financial education ... understanding how money works solves money problems".
Wilson says a shocking 80% of people who experience a sudden influx of money, for example winning the lotto, end up in a worse financial position than before they received all those funds.
She attributed this to a "faulty money flow".
"If you've got a faulty money flow pattern, more money will just magnify (it).
"Your income and your expenditure are like the river flowing through your life - how money flows in and how money flows out - where as your assets and your liabilities are like the river bank.
"They are the results of what you do with that income and expenditure," said Wilson.
"Money is just an energy, it just flows through our lives ... it either creates money hell or money heaven."
Watch the video to learn how to get your money flow pattern working for you:
- Fin24
Consider yourself a savings hero? Or just have something on your mind? Add your voice to our Savings Issue:
* Write a guest post
* Share a personal story
* Ask the experts
