If your financial situation is out of order, you're probably intimidated by it and unsure of where to start. It's a lot easier to take on that challenge with a group of supportive peers. If you have friends interested in improving their finances too, you might suggest starting a money club to boost your financial literacy. Photo by Francisco Osorio.
This suggestion comes via LearnVest. They explain:
In fact, while they're now becoming popular again, money clubs have actually been around for a long time. Many groups of women in cities across the U.S. meet up informally, but Candace Bahr, founder of the Women's Institute for Financial Education, or WIFE, formalized the money club concept, creating the organisation's trademarked version back in 2004.
"Peer pressure encourages people to get involved in their financial life," says Bahr. "It's a strong element that makes money groups work really, really well."
Accountability goes a long way toward tricky goals, and money goals are maybe some of the hardest to keep. It's easy to slip up and forget about them altogether. The more you learn about money, though, the easier it is to improve your habits and behaviours, so not only does a group hold you accountable, you can also discuss and learn about finance together.
For more details, check out the link below.