Ignorance is Expensive!

Are you ignorant? I know I am. Now that may make me sound like someone you shouldn't be taking advice from, however, let me clarify this. The definition of ignorance is: 'a state of being uninformed' or 'lacking knowledge.' Now based on that definition, isn't everyone ignorant about something? I know that I don't know anything about ... say ... rocket science. Does that make me ignorant on the subject of how to build a rocket? Of course it does. Everyone is ignorant about a lot of topics. The important thing to know is what you're ignorant about. If it's rocket science and you don't plan to be an astronaut, then you can breath easy knowing that being ignorant about rockets probably isn't going to impact your life a lot.

On the other hand, suppose you're ignorant about the speed limits in a certain town and you're caught speeding. There's a legal principle called ignorantia juris non excusat, simply that means "ignorance of the law is no excuse." It stands for the proposition that the law applies also to those who are unaware of it. If you're ignorant about the speeding laws, and you're caught speeding, then you're still going to get a ticket. An expensive ticket at that! So, where am I going with this? Being ignorant in certain areas of your life can really cost you. Let me give you an example.

Several years ago my husband and I had just moved to a new town and were looking to buy a house. We were young, recently married, and knew absolutely nothing about buying a house. Were we ignorant? Yep. Did we understand any of the pages and pages of papers we were signing to get that house? Nope. Did the real estate agent take the time to explain what was going on? Well, was it really his job to make sure we understood? Not really. The question is, who needed to know more about buying that house, us or the real estate agent? Us! It was our money! If we got a bad loan (like one of those adjustable rate mortgage you may have heard about), who should we have blamed it on? US! Because we were ignorant even though we could have learned the ins and outs of mortgages ahead of time! Fortunately we didn't get a bad loan (like millions of Americans) and our real estate agent did explain a lot of stuff to us. However, after leaving that meeting and getting that mortgage, I knew that I needed to know everything I could about finances so that I wouldn't ever have to depend on the knowledge and good intentions of others.

I feel that knowledge is powerful and that if you're ignorant about finances, bad financial decisions can be made. Your ignorance makes you powerless. Those with the knowledge have the power. I've spent the last ten years learning everything I can about money; from mortgages, to insurance, to investments, to debt elimination. In all those years of studying, there's one thing that I find is true over and over again. IGNORANCE IS EXPENSIVE!

I'm a pretty passionate person, especially when it comes down to educating and fortifying my families here at F.I. But here's the thing. PEOPLE NEED HELP and I want to help them. Too many people are uneducated (i.e. ignorant) about common, everyday finances! I am determined to help those who have had their own personal 'ah ha' moment; the ones who have said enough is enough! If this is you, I want to encourage you that this is your time and your year.

When I founded Financial Independence Coaching, I went on a mission to help people take back control of their financial situation through education. I wanted to take the excuse off the table that there is no one out there willing to teach them. But do you know what? I am proud to say that there are plenty of families who have made the decision and can finally say “ I am in control of my destiny” What are you doing to take control of your destiny?