Sunday, May 1, 2011

70. Financial IQ , financial EQ and finacial SQ.


Many people think that so as to make money it is adequate to have a high IQ business plan, or to be smart in numbers or opportunities.  What the do not realize is that Intellectual Intelligence (IQ) in economics , although it is necessary, it is not enough by itself. Let us compare financial IQ  with a detailed and scientific sophisticated recipe for a diet. It is certainly necessary, but not enough for a person to lose weight. There are plenty many good recipes for diets. What is important is to have the right emotional intelligence (EQ) so as to pass to the subconscious the plan of the diet and conduct it. It is the same with the financial achievement. It is required the financial EQ that will train the subconscious to be ready for conduction of  the IQ financial plan. In other words to appropriate yourself. First is to become  the right person, then to do the right actions so as to have the right properties. Financial EQ involves changing your awareness, your  beliefs about money, their role, and the emotional content of your financial decisions and actions. As they say it is different to know what to act from to act what you know.
It seems that  such an intelligence and wisdom is most unusual and difficult to obtain, if we are based only on the traditional virtues.




Dr Dolf de Roos,a very successful real estate investor and lecturer, spends 80% of his lectures of wealth building, on acquiring the right financial emotional intelligence rather than intellectual intelligence. He remarks that for real estate there is not really any high intellectual intelligence needed, as all the procedures are pretty plain, and obvious. What is really needed is the right emotions behind these financial activities. (See  http://www.nightingale.com/prod_detail~product~Wealth_Magnet.aspx )


I will try here a "physical metaphor" about how we feel the subconscious especially the kinaesthetic part of it. Let us say that the subconscious "feels" in all the three states: Solid, Liquid and gaseous. Some of our financial beliefs, attitudes and accepted dogmatic opinions, feel like solid. But what if they are the old random environment, programming of our subconscious that leads us to financial failure? When we must re-program the subconscious we must be able to dissolve these solid beliefs and dogmas and put in their place the new ones that will lead us to the financial success. Such new beliefs of course we must take from already successful people that are what we want to become. Therefore we must have the ability to transform the "solid" of the subconscious to "liquid" and "gaseous" and back to "solid". This process of course requires to be able to bring in to light the hidden beliefs, write them, and think consciously about them. The techniques of self-suggestion and new habits formation described in other posts are utilized so as to "solidify" the new beliefs, while self-analysis, right silent questions, high awareness and help from successful people are utilized so as to be able to liquidate and evaporate the old inappropriate dogmas. The NLP (Neuro-linguistic programming, see http://en.wikipedia.org/wiki/Neuro-linguistic_programming ) describes in full detail more than one such techniques where an old "anchor" is dissolved and substituted with a new appropriate "anchor".

I would like to add here the role of perception of our macro-social world on the appropriate morality and emotional intelligence on financial decisions and actions. Personal world emotions   of financial decision makers, who ignore the macroscopic economic consequences , have no value and are not be sanctioned as really good (even though maybe good with the standards of psychologists): Here is a relevant Blog about how such irresponsible financial decision makers may create mass financial destruction through over-debt: http://overdebtmonetarysystem.blogspot.com/2012/04/1-how-current-monetary-system-creates.html


Besides , the financial emotional qualifications (EQ), the financial intellectual qualifications (IQ) ,  there are also the financial spiritual qualifications (SQ). 
Spiritual qualifications (SQ) is the system of beliefs that we have that defines our reality and the meaning of our life. (see also post  11)

I very much like also the definition of true prosperity by Michael Ray, lecturer in the Stanford University , in his book "The highest Goal".
It is also in accordance with the deeper sequencing that in order to have you must first act, and in order to act you must first think and in order to think you must first be. To be, to think, to act, to have is the true sequence of wealth creation. Private property itself is nothing else that a feature of abilities of the creative will of the existence. Therefore the ability to experience at will the various qualities and abilities of our own existence is the true wealth.   

"True prosperity  is being happy by continuously experiencing the variety and infinity of qualities that make up our Existence. .....You achieve prosperity by having a full, rich feeling of self-worth."  Michael Ray: The Highest Goal 2004

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