Concentrate on Financial education rather than Wealth.

[RockBell]

Financial illiteracy is the process were an individual lacks the ability to take the right financial decisions and steps in making sure that one is liberated from financial lack and stagnancy. Financial education should be a very important aspect of every individual if anyone is interested in becoming financially buoyant and independent.

People now a days are more concerned about making money rather than first of all equipping themselves with the needed  financial management and education because everything boils down to financial education in the process of building wealth.its a common belief that no matter how good a fellow is he or she can't outgrow his level of financial literacy.One can't be talking about building an Empire without the needed financial skills and equipments.

Those who has been able to build Empires in every field of endeavors are actually people who has enlightened themselves enough to manage their finances. Anyone who wants to make a change in this current economy that, we found ourselves should as a matter of importance embabeb financial literacy. As taking the right financial decisions and steps in liberating one from their current financial status.Investment is one good way that an individual can move away from financial stagnancy.

Investing in critical assets like Bitcoin is one good way through which an individual can liberate their self from from poverty.having the necessary  financial skills is what defines an individual, so investing in your  yourself by buying of books, Attending of work shopes and seminar making of Researching etc are all financial literacy means which anyone can use in escaping poverty.

A basic school education really does not equip kids for the vast array of financial instruments out in the world that they need to be aware of in a decent amount of detail or they might fall into numerous traps that exist. Debt for example is generally to be avoided, but will often be taken on by the younger generation - however a 8% loan is bad, but 20% APR on a credit card or 30% interest from a payday lender is infinitely worse especially if it's compounded over several years. Even things like how does a credit card work and that it charges no fees as long as you pay it off every month is something that many people don't learn until later in life, they are simply told credit cards are scary instead, but they can be a very valuable tool if used correctly.

School knowledge doesn't count most times, so you just have to figure things out yourself because finance is a different thing on its own, and why reason for finance knowledge is that and when you have financial education, then you would learn the principles of wealth over there and that is why you see the rich they are always reading books and if its about debt a lot of them have tried to raised companies that have failed and they are intended but they were able to find there way out of it. And wealth is about principle and discipline, so when it comes to decision making, you have to depend on does principles that you have learned.  And once you understand it, you must also be ready to teach your kids about them, because school is never enough in life.

[el kaka22]

Financial education does not lead to wealth. I know many people who are great financial analysts and do it for others. You need a capital to grow richer, if you do not make enough to even properly save, then how are you going to get richer?

People do not realize this, but the current way the economy works is that you can have a 10+ year old car, no starbucks a day, no subscriptions and you could still not be saving aside some money, or even if you do, it could be very small, not even enough for a downpayment of a house. It is not 1960 anymore, working people do not make enough for all, and while it might happen in some nations, in my nation it is not possible. So financial education is important, but doesn't equal wealth.

[Unknown Op]

Financial education does not lead to wealth. I know many people who are great financial analysts and do it for others. You need a capital to grow richer, if you do not make enough to even properly save, then how are you going to get richer?

People do not realize this, but the current way the economy works is that you can have a 10+ year old car, no starbucks a day, no subscriptions and you could still not be saving aside some money, or even if you do, it could be very small, not even enough for a downpayment of a house. It is not 1960 anymore, working people do not make enough for all, and while it might happen in some nations, in my nation it is not possible. So financial education is important, but doesn't equal wealth.

Every country need enterpeneurs because these people are the reason of high economy of the country.  If any country has more entrepreneurs then country will grow and economy will be at the top. Many people are doing for their families but they are not good for the economy of the country. I am taking about job holders who want to be stable in life and want to live in comfort zone . There are millions of people who are doing job and they are happy with their job because they want to be successful person in their family and family says job is required to be so call successful but they don't think to produce jobs and many people are running behind the jobs because job creaters are none in the country.

[Finestream]

My own point about this, its not really necessary to learn financial education formally because you will definitely learn it based on your real-life experiences. Your experiences will make you more aware and realized that dealing your finances the right way is essential in order to achieve wealth and keep them for long.

However,  I understand that financial literacy is crucial, but not everyone has the capacity to enroll on financial education courses due to low budget, but anyone can make advantage of any opportunity that could lead to wealth creation, and sustaining it throughout the process for a bigger and more profitable outcome in the future.

[Fortify]

Financial illiteracy is the process were an individual lacks the ability to take the right financial decisions and steps in making sure that one is liberated from financial lack and stagnancy. Financial education should be a very important aspect of every individual if anyone is interested in becoming financially buoyant and independent.

People now a days are more concerned about making money rather than first of all equipping themselves with the needed  financial management and education because everything boils down to financial education in the process of building wealth.its a common belief that no matter how good a fellow is he or she can't outgrow his level of financial literacy.One can't be talking about building an Empire without the needed financial skills and equipments.

Those who has been able to build Empires in every field of endeavors are actually people who has enlightened themselves enough to manage their finances. Anyone who wants to make a change in this current economy that, we found ourselves should as a matter of importance embabeb financial literacy. As taking the right financial decisions and steps in liberating one from their current financial status.Investment is one good way that an individual can move away from financial stagnancy.

Investing in critical assets like Bitcoin is one good way through which an individual can liberate their self from from poverty.having the necessary  financial skills is what defines an individual, so investing in your  yourself by buying of books, Attending of work shopes and seminar making of Researching etc are all financial literacy means which anyone can use in escaping poverty.

It's super important to educate yourself on finances for a couple reasons, firstly it will make you much more savvy when it comes to money - you'll understand how or what to invest in, different terminology/instruments that can be used, traps that can suck up your money and things like how compounding can be incredibly powerful if used to your benefit. Secondly, there may sometimes be opportunities that pop up in life or circumstances where you somehow come into possession of a lot of money. There are many people and companies out there who are looking to separate wasteful & idiotic spenders from their money, that do it very successfully, so be prepared in advance should you ever end up in this scenario.

[Iroh]

My own point about this, its not really necessary to learn financial education formally because you will definitely learn it based on your real-life experiences. Your experiences will make you more aware and realized that dealing your finances the right way is essential in order to achieve wealth and keep them for long. 

It really doesn't hurt to be educated early on about finances and how best to manage and go about it. That way, you may not make some careless mistakes or you'll make less mistakes as you're going to learn from past mistakes made by someone else. Wouldn't it be more better and safer to learn about possible financial mistakes made by lots of people in the past and how to go about avoiding it than to make that same mistake, take in huge losses and start afresh, of course with a new found and bitter experience.
It's best and safer to gain whatever knowledge we can so we don't end up making some financial mistake that could be costly when the choice to be able to recognize the warning signs early on and then make moves to avoid those mistakes is there.

[Botnake]

Not all who are well-financially educated are wealthy, and not all who are wealthy are financially educated. That only proves that having financial education may be important, but not as necessary as it is. Success can be achieved regardless of your educational background, as long as you don't quit in the process of reaching your dreams and goals, in building your wealth.

Financial education will open you to a lot of opportunities and privileges, but if you don't have the right mindset and approach towards your success financially and emotionally, you won't still be successful in the end. You don't just educate yourself, but you make some time of turning your learnings into real-life application, because that's the real basis if you can really be financially successful or not.

[BigBos]

My own point about this, its not really necessary to learn financial education formally because you will definitely learn it based on your real-life experiences. Your experiences will make you more aware and realized that dealing your finances the right way is essential in order to achieve wealth and keep them for long.

However,  I understand that financial literacy is crucial, but not everyone has the capacity to enroll on financial education courses due to low budget, but anyone can make advantage of any opportunity that could lead to wealth creation, and sustaining it throughout the process for a bigger and more profitable outcome in the future.

We can gain knowledge from anywhere, and we know that education consists of both formal and informal education. This confirms that we can gain knowledge without being in a formal environment. However, when we're in a formal environment, what we learn is more structured.

However, I mostly gain knowledge that can be directly applied through personal experience, meaning I gain it from informal environments. Perhaps when we learn based on our own experience, it's quicker to understand.

And in relation to finances, I can better feel and understand how to deal with existing problems, not just theorizing, but experiencing them firsthand.

[shield132]

Financial illiteracy is the process were an individual lacks the ability to take the right financial decisions and steps in making sure that one is liberated from financial lack and stagnancy. Financial education should be a very important aspect of every individual if anyone is interested in becoming financially buoyant and independent.

People now a days are more concerned about making money rather than first of all equipping themselves with the needed  financial management and education because everything boils down to financial education in the process of building wealth.its a common belief that no matter how good a fellow is he or she can't outgrow his level of financial literacy.One can't be talking about building an Empire without the needed financial skills and equipments.

Those who has been able to build Empires in every field of endeavors are actually people who has enlightened themselves enough to manage their finances. Anyone who wants to make a change in this current economy that, we found ourselves should as a matter of importance embabeb financial literacy. As taking the right financial decisions and steps in liberating one from their current financial status.Investment is one good way that an individual can move away from financial stagnancy.

Investing in critical assets like Bitcoin is one good way through which an individual can liberate their self from from poverty.having the necessary  financial skills is what defines an individual, so investing in your  yourself by buying of books, Attending of work shopes and seminar making of Researching etc are all financial literacy means which anyone can use in escaping poverty.

I don't know how smart it is to concentrate on financial education. I have a high degree in finance but I wouldn't even say that this helped me in life because what I learnt is different from what's actually a financial education. To my mind, financial education comes from experience. When you are young and your parents take care of some of your expenses, you should use that time to earn money and invest that money into something or start a business. My biggest mistake was that I focused on university and financial education instead of wealth, I still regret this decision. If I was about to focus on wealth, I would be a millionaire today because I've collected more than 10 Bitcoins in my life and if I was working more, I would be able to collect 100% more Bitcoins.

[Jawhead999]

I don't know how smart it is to concentrate on financial education. I have a high degree in finance but I wouldn't even say that this helped me in life because what I learnt is different from what's actually a financial education. To my mind, financial education comes from experience. When you are young and your parents take care of some of your expenses, you should use that time to earn money and invest that money into something or start a business. My biggest mistake was that I focused on university and financial education instead of wealth, I still regret this decision. If I was about to focus on wealth, I would be a millionaire today because I've collected more than 10 Bitcoins in my life and if I was working more, I would be able to collect 100% more Bitcoins.

Remember, the reason why you have the present knowledge were from your past, if you didn't focus on university and financial education, you might not able to collect as much as Bitcoin you have right now. That's why when I see someone complain if they're not rich enough because they make mistake even though they currently in good financial, you can't be regret with your decision.

As long as it didn't ruin or hurt your life, every decision you made already good.

[shield132]

I don't know how smart it is to concentrate on financial education. I have a high degree in finance but I wouldn't even say that this helped me in life because what I learnt is different from what's actually a financial education. To my mind, financial education comes from experience. When you are young and your parents take care of some of your expenses, you should use that time to earn money and invest that money into something or start a business. My biggest mistake was that I focused on university and financial education instead of wealth, I still regret this decision. If I was about to focus on wealth, I would be a millionaire today because I've collected more than 10 Bitcoins in my life and if I was working more, I would be able to collect 100% more Bitcoins.

Remember, the reason why you have the present knowledge were from your past, if you didn't focus on university and financial education, you might not able to collect as much as Bitcoin you have right now. That's why when I see someone complain if they're not rich enough because they make mistake even though they currently in good financial, you can't be regret with your decision.

As long as it didn't ruin or hurt your life, every decision you made already good.

I agree with you, the past experience led me where I am today and became a foundation of my knowledge but I still regret it. Even if I didn't focus on university and financial education, it doesn't mean that I wouldn't be further in life. If I stayed at home and collected every Bitcoin that I earned, I would be a millionaire today. There is a chance that I would lose everything because of my lack of life experience but there is also a big chance that I would act differently, for example, buy houses and rent them. I always wanted to buy cars and rent them to taxi drivers, it's a very profitable business in my country. Btw it's too late to worry about this now but I feel that I became a victim of a mentality where parents push their children to attend university. 99% of my university mates, including those who had A degrees, are working on a very low salary. I have a much better salary because when I finished university, I learnt UI/UX design and focused on that.

[Synchronice]

If you don't have money, you don't make money. So what if you're financially literate, so what if you don't? If you earn money and have a regular income, you already have some financial literacy through your investments and the knowledge and experience you've gained over the years. You learn by losing. This may sound counterintuitive at first, but it's a good way to learn.

This is so true! Concentrating on financial education instead of focusing on wealth doesn't sound smart to me. It's like reading lots of books about how to drive a car before you actually drive a car. If you start from driving a car instead of reading books, you'll have much better experience and you'll be more professional than those who focus on studying. Practice is the best educator to my mind because practice can be fun and rewarding, it gives you the possibility to make multiple mistakes and explore new things. Lots of very wealthy businessmen don't have a degree in finances but are doing much better than those with Phd in finances.

[bettercrypto]

Financial illiteracy is the process were an individual lacks the ability to take the right financial decisions and steps in making sure that one is liberated from financial lack and stagnancy. Financial education should be a very important aspect of every individual if anyone is interested in becoming financially buoyant and independent.

People now a days are more concerned about making money rather than first of all equipping themselves with the needed  financial management and education because everything boils down to financial education in the process of building wealth.its a common belief that no matter how good a fellow is he or she can't outgrow his level of financial literacy.One can't be talking about building an Empire without the needed financial skills and equipments.

Those who has been able to build Empires in every field of endeavors are actually people who has enlightened themselves enough to manage their finances. Anyone who wants to make a change in this current economy that, we found ourselves should as a matter of importance embabeb financial literacy. As taking the right financial decisions and steps in liberating one from their current financial status.Investment is one good way that an individual can move away from financial stagnancy.

Investing in critical assets like Bitcoin is one good way through which an individual can liberate their self from from poverty.having the necessary  financial skills is what defines an individual, so investing in your  yourself by buying of books, Attending of work shopes and seminar making of Researching etc are all financial literacy means which anyone can use in escaping poverty.

I know there are many business success stories I’ve watched where you can truly say they came from a very poor background some couldn’t even read or write but because of hard work, perseverance, and endurance, they were able to strengthen the businesses they started with small capital and gradually grow them little by little. In truth, they weren’t even aware
of financial education.

Yet they still became successful, even without knowing the financial education you’re talking about, OP. Their actions actually prove the true definition of financial education. Even if they were unaware of it, they became financially educated through experience, because they were able to grow their business from small to big.

[Oluwa-btc]

It's not always about having money but knowing how keep it is the main thing and this has a lot to do with expanding or multiplying your source of income. People fight to get rich but don't have rhe knowledge to stay rich. While you are focused and working hard to get money it's also important to learn financial education so when you finally make the money you want you won't end up making financial mistakes.

Financial literacy is the engine that fuels wealth,it creates it,sustains it and multiply it.Sadly, some of these things are not been taught in schools.A lot of people make money but very few knows how to keep,grow and protect it.History is everywhere, people who used to be wealthy but didn't have budgeting skills, investment understanding and the likes.
If you chase wealth without financial intelligence, you may get money and lose it.If you chase financial intelligence, wealth eventually follows and stays.I'll say concentrate on financial education before wealth,not instead of it

[Pablo-wood]

If you don't have money, you don't make money. So what if you're financially literate, so what if you don't? If you earn money and have a regular income, you already have some financial literacy through your investments and the knowledge and experience you've gained over the years. You learn by losing. This may sound counterintuitive at first, but it's a good way to learn.

I beg to disagree. There are scenarios where people become financially stable due to their investment decisions and along the line the go bankrupt. Having a successful business doesn't outrightly mean the person is completely financial literate. I believe we can't know it all. It's best to always assume we don't know most times so we can stay updated inorder not to fall victim of once being wealthy and all of a sudden everything vanished due to mistakes made through investments.

[goro_chief]

Financial illiteracy is the process were an individual lacks the ability to take the right financial decisions and steps in making sure that one is liberated from financial lack and stagnancy. Financial education should be a very important aspect of every individual if anyone is interested in becoming financially buoyant and independent.

People now a days are more concerned about making money rather than first of all equipping themselves with the needed  financial management and education because everything boils down to financial education in the process of building wealth.its a common belief that no matter how good a fellow is he or she can't outgrow his level of financial literacy.One can't be talking about building an Empire without the needed financial skills and equipments.

Those who has been able to build Empires in every field of endeavors are actually people who has enlightened themselves enough to manage their finances. Anyone who wants to make a change in this current economy that, we found ourselves should as a matter of importance embabeb financial literacy. As taking the right financial decisions and steps in liberating one from their current financial status.Investment is one good way that an individual can move away from financial stagnancy.

Investing in critical assets like Bitcoin is one good way through which an individual can liberate their self from from poverty.having the necessary  financial skills is what defines an individual, so investing in your  yourself by buying of books, Attending of work shopes and seminar making of Researching etc are all financial literacy means which anyone can use in escaping poverty.

Ngl, financial literacy gets thrown around a lot, but it’s not a magic fix. Low income, bad policy, and limited opportunities are real problems too. Education helps you make better decisions, but it doesn’t guarantee wealth. It’s a tool, not a promise.

[junder]

My own point about this, its not really necessary to learn financial education formally because you will definitely learn it based on your real-life experiences. Your experiences will make you more aware and realized that dealing your finances the right way is essential in order to achieve wealth and keep them for long.

However,  I understand that financial literacy is crucial, but not everyone has the capacity to enroll on financial education courses due to low budget, but anyone can make advantage of any opportunity that could lead to wealth creation, and sustaining it throughout the process for a bigger and more profitable outcome in the future.

I agree with you that we learn financial education naturally based on our life experiences. As time goes by, we all look for work and earn income, which is where we gain experience in managing our own finances.

I personally haven't considered joining a financial education course, and neither have any of my family members. I think most people, as you said, will learn naturally from their own experiences.

[Mekie21]

Financial illiteracy is the process were an individual lacks the ability to take the right financial decisions and steps in making sure that one is liberated from financial lack and stagnancy. Financial education should be a very important aspect of every individual if anyone is interested in becoming financially buoyant and independent.

People now a days are more concerned about making money rather than first of all equipping themselves with the needed  financial management and education because everything boils down to financial education in the process of building wealth.its a common belief that no matter how good a fellow is he or she can't outgrow his level of financial literacy.One can't be talking about building an Empire without the needed financial skills and equipments.

Those who has been able to build Empires in every field of endeavors are actually people who has enlightened themselves enough to manage their finances. Anyone who wants to make a change in this current economy that, we found ourselves should as a matter of importance embabeb financial literacy. As taking the right financial decisions and steps in liberating one from their current financial status.Investment is one good way that an individual can move away from financial stagnancy.

Investing in critical assets like Bitcoin is one good way through which an individual can liberate their self from from poverty.having the necessary  financial skills is what defines an individual, so investing in your  yourself by buying of books, Attending of work shopes and seminar making of Researching etc are all financial literacy means which anyone can use in escaping poverty.

Your points really inspire me in places I’ve been taking wrong steps, I’m always focusing on the result and ignoring the steps and when it feels like things are not working out the way I planned it, I’ll be like, these things are not for my person, but now I know where I’m getting it all wrong. Thanks for your critical thinking OP.

[Jateng]

My own point about this, its not really necessary to learn financial education formally because you will definitely learn it based on your real-life experiences. Your experiences will make you more aware and realized that dealing your finances the right way is essential in order to achieve wealth and keep them for long.

However,  I understand that financial literacy is crucial, but not everyone has the capacity to enroll on financial education courses due to low budget, but anyone can make advantage of any opportunity that could lead to wealth creation, and sustaining it throughout the process for a bigger and more profitable outcome in the future.

It is not compulsory to gain financial education from a formal institution. almost all the information is easily available online for free. What truly matters is not where you learn from but that you make the effort to learn. Unfortunately I have found many platforms mislead people by selling expensive courses and promising quick success while in reality much of it is a scam. real financial understanding comes from personal experience, self-study, and using genuine online plateforms. An individual should focus on building financial knowledge step by step instead of looking for shortcuts to get rich quickly. There is no overnight success in wealth creation.

[tygeade]

I agree with you that we learn financial education naturally based on our life experiences. As time goes by, we all look for work and earn income, which is where we gain experience in managing our own finances.

I personally haven't considered joining a financial education course, and neither have any of my family members. I think most people, as you said, will learn naturally from their own experiences.

I believe this must be a basic mistake among people across the world because we are not giving priority for knowledge on finance. This is the reason we are learning from our real experience but in between the learning process, we are losing significant amount in various occasions. Even you are not losing anything,  you might be missing out few life changing opportunity due to lack of knowledge in finance which must be avoided at least for the next generation and with this is the reason I strongly believe that financial education is more important for building a better future.

Still, I agree that we do not need to go for any institution for basic knowledge on finance but we can make use of available resources around us like there are lots of useful videos and articles are available in the internet and this forum as well and we can make you of them for ensuring our financial freedom.