Debunking the myth of financial jargon

 

Diversification, equity, index linked investment, standard variable rate. These are just a couple of terms that you might come across when it comes to finances. Some of these words seem familiar, and some are entirely confusing for many.. Not everyone has the necessary knowledge or education, and often when you seek help from industry experts, they throw all of those terms at you, perhaps assuming that you know what they mean.

 

TWiCE believes that using all of this financial jargon is pretty unhelpful for most people as it lets those with the knowledge keep others in the dark. It begs the question, if you haven’t fully understood everything, are you really making the best financial decisions? It’s a lot like all of the jargon used by lawyers; it’s in Latin for starters. The fact that there are plenty of straightforward words that they could use, but they use that jargon instead, makes it complicated for everyday people to understand. One of our writers at TWiCE could tell you what an ‘actus reus’ was, but that’s because they did legal studies in secondary school, and even then they still had to Google it to double check.

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The point is that this lingo is all deliberately used to make sure some people are kept in the loop  and others are kept none the wiser. Changing the industry would be a pretty big task, not one that TWiCE alone would be able to handle. Instead, we’re looking to help people better equip themselves; we’re putting financial jargon in real terms for real, everyday people. One of our main goals is to help everyone take back control of their finances, and a huge part of that is making sure everyone has the right knowledge. When the information you have available to you is clear and understandable, you will be  more capable of making better informed decisions. With more informed or educated decisions comes better returns, and the opportunity for everyone to set themselves up to reach their financial goals.

At TWiCE, we’re aiming to try and provide that help in a couple of different ways. We’re looking to reach out to the community directly by opening up discussions about financial stress and the hurdles everyone deals with. We’re looking to remove the stigma that comes with financial struggles and help everyone build stronger, more supportive networks with the people around them. We’re providing access to financial education through group classes in communities and businesses. On top of that we also have online courses that everyone can access and work through when it suits them.

 

A big part of what we do is making sure we debunk all that jargon and explain it to you clearly, so that’s why a lot of what we do is video based. We have clear and to-the-point videos to help you learn, rather than slapping a textbook down on the desk and telling you to sift through it. If you’re keen to learn more about how your finances work, and how you can make them work for you, it might be worth getting in touch and seeing how we can help you start building a better future.

- Tom L

 

Disclaimer:  The above information does not replace financial advice.  Please ensure you seek independent financial advice before making any decisions regarding your finances.  We also recommend that you carry out your own research to ensure that this is right for your own unique circumstances.  Please note that we sometimes link to other websites but we cannot be held responsible for their content.