The importance of being financially educated.

in Project HOPE3 years ago

The refusal to get financially educated and to constantly think that college degrees are enough is greatly dangerous. Most people are quick to think that financial education is only necessary for entrepreneurs but that is a wrong perception, everyone from every walk of life irrespective of the occupation needs to gain financial literacy. Financial literacy consists of our ability to make proper budget, manage our income and other financial activities required to boost our financial standard.

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Living everyday as it comes without taking details of important spending pattern is as a result of lack of adequate financial education. The absence of knowledge about the way money moves, will make it difficult to even know how to earn more, the control of a man’s financial decisions makes him a super strong and smart personality.

With the economic condition of the world right now, it is highly important to get very knowledgeable on the way our financial status is been controlled, our finances are built on the control measures we can put in place especially when we find ourselves in tight conditions which may include a hangout with friend which usually makes you spend more than the budget you have.

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The common difference between a rich and the poor lies in their financial knowledge, most rich people really understand the principle behind being able to double their income especially when their wealth is self-made and most times an average poor man is just concerned about food and appearance. Taking risks is one thing that the financially educated also know how to do very well, they know how to take calculated risks and even when they fail they know how to draw out lessons and move fast towards accomplishing greater success but a regular poor man will only make one mistake and avoid trying out anything new again.

The principle of money attracting money is a very common thing that we have heard very often but a regular average man is interested in a very lavish lifestyle that he forgets the need to have extra savings and build on investments, a man that is financially smart knows the need to save and invest and he takes this as a priority than wearing expensive items.

Just like a commodity can have an increased price as a result of the increased value, the same way it is a necessity to increase self-worth if people will be willing to pay for the service rendered. The decision to remain stagnant with a certain obtained will either result in a decline in the price offered or retarded growth. Financial knowledge teaches everyone who has it the constant need for self-development.

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Hi @busted1
Money attracts money, that's a great truth.
I also very much agree that getting educated financially is not exclusive to entrepreneurs, in fact, I think it's the main reason why many people are so bad off financially.

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I am still learning every even thought I have been involved with crypto for three years now.
Thank you for sharing this information.
Peace