More about Personal Finance Education

When it comes to personal finance management, most people need a little push. And yes, Job cut, stagnant salary, fierce competition, and economic turbulence worldwide are some of the factors prompting them to be armed with adequate knowledge about how to manage their finances. Managing means one needs to be adept at two parts instead of one, commonly believed. He/she should maintain a standard living index and most importantly, consider heavily on saving part.

For most of the people, finance management education pertains only to the ways of becoming wealthy. So, let us emphasize on this point and show you a way out of mediocre living and take you on a route to wealth.

Ask people why they want to be wealthy and most of them will give a common answer, money can buy almost all things in the world. Right they are as having money simply means you can turn the world around you. Many avenues will open up and who not knows that money begets money?

Wallace Wattles has given a piece of his mind in his book “Science of Getting Rich” that everyone should aim at becoming a wealthy person to make journey of life easier and better. You can explore and enjoy the best things in this world. Others think money gives you power. So in order to be powerful and ensure best care for those close to you, becoming wealthier should be a priority. In view of what money can make you, isn’t it surprising why there is lack of personal financial education?

I do think that personal finance education should start at school. The children leave school and enter university without any knowledge about personal finance and so it springs no wonder for me why they lack in basic ability to handle their financial problems and find a way out.

Millions of college-goers are not conversant on financial banking, currency devaluation, calculation of mortgage interest, consequence of leaving heavy balance on credit card and many more things knowing of which will help them avoid financial crisis in life. Can you believe that only a few of people have an idea of opportunity cost?

Unfortunate is that the schools and colleges produce a flock of degree holders who lack in through understanding of how to protect their wealth, leave alone creating it. Many people spend most of their life working but still do not have enough to enjoy a comfortable financial life. In fact, some of them leave the world with huge mortgage loan and other debts. As a result, the family members suffer financial setback.

Yes, those with financial acumen believe that present education system is wrong but we have no way but to go with it. Finance education is more important for the average people. The rich brackets get favor of the bank and any lending houses but the Joe and likes struggle hard due to ever increasing monthly expenses.

Good news is there are many online courses on wealth creation and financial success. You will get hundreds of tips there, learning of which will surely help you in real life.