Why we are
struggling so much with our finances? What went wrong? The root cause of the problem is the lack of financial knowledge
or financial Literacy.
Why we lack financial literacy?
The main reason people struggle financially is that we spent years in
schools and colleges but never learned about money. As a result, we work for
money but never learn to have money work for us.
Our lifestyle plays a major role in financial knowledge. Credit cards reward
points and various schemes force us into blind shopping which ends in waste
the money on the things that are not actually needed.
I categorize the Financial Literacy into 3 categories.
1. How to Earn money
2. How to Manage money
3. How to Invest
Our School system trains us to work for money, join the professional job
earn money living paycheck to paychecks.
But do you think a job can solve all your financial problems? In the first instances why you prefer job?The answer is quite simply to pay the bills (Rent, Food, Tax etc.,)
What
if there is some other way to pay the bills and you can live your dream life.
Ever thought of that?
Living your dream life without financial problems and struggle is what
called Financial Freedom.
Reaching financial freedom has truly change a life. Can you
imagine having enough money to be able to live the life you want without having
to go to work every day?
If you want financial freedom you have to
invest. What I meant by investment is not about investing money in bonds and
stocks. The initial investment is to be investing in yourself and in your
knowledge.
We spend most of our life earning money, but
how much time do we actually spend learning about how to manage it?
By investing in yourself and in your financial
knowledge, you’ll find yourself building your wealth. “Books are the best
investment”. I see that there are many people in the world do not want to
attend a paid seminar which can improve financial skills but tend to use the
money to buy liabilities.
Ways to improve financial literacy:
1. Books
2. Publications
3. Seminars, Webinars
4. Your network
