What are the 5 Pillars and why do I need them? Will they benefit me at all? Should I bother?
We say YES!
We’ve simplified the beginners ABC’s of financial literacy for super-easy application and results.
Use our 5 Pillar structure as a template, or as a reference point to find your own style.
Schools teach us other types of literacy, why not personal finance?
Let’s empower ourselves to learn & improve our basic personal finance skills today.
5 Pillars of Financial Stability For Healthy Personal Finance
I’m Raven, founder of MoneyMind. I have numbers dyslexia (dyscalculia) and thought I’d always be bad at money because I was bad at maths. (Still am!)
But after years of avoiding money matters, making big messes, and struggling with stress and overwhelm – I finally figured out it didn’t have to be so difficult.
And that I’d have to take action / responsibility for changing and upgrading my own financial mindsets.
I could avoid my finances and keep old habits, or I could accept myself and create a new way of being that worked for me.
I decided that it was too uncomfortable to stay the same, and embraced looking for new small steps of change.
I assessed my current landscape (messy!)
I accepted my strengths and weaknesses (geeky research & simplifying complex concepts : strengths / dyscalculia & avoidance : weaknesses.)
And I created the 5 Pillars of Financial Stability.
The simplest possible formula I could apply for my optimising, numbers dyslexic, Spender-type personalty to achieve maximum results with minimal effort.
The 5 Pillars of Financial Stability are:
Wills & Legacy
This is the simplest structure for basic financial stability I could create, and covers areas I spent years personally discussing and researching with business and financial industry professionals for my own use and understanding.
So why get involved self-educating on this at all?
Simple – so we can live our lives purposefully, fulfilled, responsible for our money choices.
Feeling like we’re in the drivers seat, not led by wolves or vulnerable from lack of financial education.
Able to look after ourselves and our family, educating ourselves and setting examples for our loved ones and children to follow if they choose.
Our choices to self-empower will gently ripple through our lives and into our communities. Our children will watch us and copy. Our future will change as a result, and so will theirs.
MoneyMind’s 5 Pillars of Financial Stability overlaps with many of the OECD Youth Core Competencies Framework on Financial Literacy. I wish all of this was taught across all schools (algebra instead, REALLY??) – but it’s not.
So we’re here on a mission to make that right.
When will I see results?
This depends on the effort we invest into this area. And also where we start from. Like physical fitness!
If we’re already practicing some financially fit habits, it’ll be easier to tweak and implement new ones from the 5 Pillars and results will be visible over a longer period of time.
If we’re new to actively managing our finances, or have some unhealthy financial habits, it’ll require much more effort to shift them and implement changes. But changes will be visible faster, within a few weeks in some areas and within months for others.
Minor implementation will achieve minor results, bigger implementation will achieve bigger results.
But you’ll only really notice the change if you’ve taken clear stock of exactly where you’re at right now. Which we’ll create a worksheet to help you with.
Choose what works for you! There’s no rush at all. Your pace is perfect for your needs, and results will be better with self patience, kindness, self support and persistence.
Ready to make a change?