The difference between the rich and the poor is financial knowledge

[fruktik]

There is nothing wrong with having degree or the poor chasing degree, the main issue is lack of financial management or a good knowledge on how to manage money. Without a good financial knowledge it will be difficult for anyone to be able to manage their finances even if they have degree.
Having a degree pave way for so many opportunities , and knowing how to manage your wealth can save you from mismanagement of funds. There is need to strike a balance between having a degree and gaining financial knowledge.

What's the problem with finding the information you need these days? Simply use a search engine and read about what you're looking for. You can also ask AI.

Many beginning investors have chosen this path and found success. Furthermore, you can discuss various topics on forums. So, all you need to do is find some free time or devote a few minutes to reading every day.

[Somegory]

I won't lie my country did a ton on many of us, the financial knowledge we are talking about is been passed down to families from their youngest ages, and they held unto it and never stop passing it down to their kids.

In my country we are raised to trust God for everything, we were raised to go to church every earlier and join services and groups in the church, it's why I never see rich people children doing the same.

They are busy learning something from their young age, while we are busy giving up our energy for churches, it's why I envy children in china, they exposed them to a lot from a young age, a 10yrs old from china beats a 30years old in my country.

They are tought about money and how to make lots of things, new innovation and others at very young, how will they fail as they grow up? The chances of failing will be slim.

[bhadz]

The rich made the educational system and that's why we've been told that to finish college degree and have a beautiful and high-paying job working for them. It's only realized when it's already quite late for the person who understands that it only takes to a couple of experience and understanding to become financially knowledgeable. And that's what isn't taught by the rich, because what they want is a system that people only sees themselves as employees forever and enjoy the weekends through entertainment without too much to worry about their finances and future.

[AmaGold70]

Gaining financial knowledge is very much important because financial knowledge will always make you rich minded, and work towards making wealth. Acquiring education is good or even gaining degree. When you have a degree, it is not wrong because the degree you have is as a result of the knowledge you have acquired which can give you the information or preparation to get rich.
Many individuals who are rich went to school, and acquired certain degree , and these knowledge has actually help them to excel financially, and use this knowledge for their own advantage.
Most times, how you explore financially depends on how you think weather you have a degree or not. When you are rich minded you think of investment more, and that is exactly what makes you rich, but the poor people think more of savings, and spending their money.

[NewRevelation]

There is nothing wrong with having degree or the poor chasing degree, the main issue is lack of financial management or a good knowledge on how to manage money. Without a good financial knowledge it will be difficult for anyone to be able to manage their finances even if they have degree.
Having a degree pave way for so many opportunities , and knowing how to manage your wealth can save you from mismanagement of funds. There is need to strike a balance between having a degree and gaining financial knowledge.

What's the problem with finding the information you need these days? Simply use a search engine and read about what you're looking for. You can also ask AI.

Many beginning investors have chosen this path and found success. Furthermore, you can discuss various topics on forums. So, all you need to do is find some free time or devote a few minutes to reading every day.

Reading does a lot of it, because for you to grow in knowledge, you must first get the information about it before acquiring the knowledge. Though, I feel that the rich has an advantage over the poor. The advantage is that the rich have some money to sought for information and knowledge. Buy doing this, they also have the privilege to act upon the knowledge they got in improving there lives. But the poor has nothing, instead, they are just struggling to improve there standard of living through search of basic needs and a better health.

However, everyone who wants to rise must do the extra ordinary to be different. The poor should avoid been afraid to risk there little money to change the course of there lives if it goes the positive for them. While the rich will always risk and invest because they have the money and at the end make more money, the poor will hold tight the little they have to avoid wastage since they have only but little. I believe to make a difference, you must try something new. If the poor man's mentality towards making money doesn't change, he will always remain poor.

[Pablo-wood]

The rich made the educational system and that's why we've been told that to finish college degree and have a beautiful and high-paying job working for them. It's only realized when it's already quite late for the person who understands that it only takes to a couple of experience and understanding to become financially knowledgeable. And that's what isn't taught by the rich, because what they want is a system that people only sees themselves as employees forever and enjoy the weekends through entertainment without too much to worry about their finances and future.

The education system doesn't guarantee high-paying jobs it only makes graduates job ready. Besides a productive mindset will look for opportunity to create their own employment opportunity either as an entrepreneur or through partnership. The current  inflation rate in our todays world is such that anyone who seek financial stability should prioritize their own investment as a plan for their future financial growth which is the secret to what the so called rich elites do.

[bhadz]

The rich made the educational system and that's why we've been told that to finish college degree and have a beautiful and high-paying job working for them. It's only realized when it's already quite late for the person who understands that it only takes to a couple of experience and understanding to become financially knowledgeable. And that's what isn't taught by the rich, because what they want is a system that people only sees themselves as employees forever and enjoy the weekends through entertainment without too much to worry about their finances and future.

The education system doesn't guarantee high-paying jobs it only makes graduates job ready. Besides a productive mindset will look for opportunity to create their own employment opportunity either as an entrepreneur or through partnership. The current  inflation rate in our todays world is such that anyone who seek financial stability should prioritize their own investment as a plan for their future financial growth which is the secret to what the so called rich elites do.

They've made that system, although it's important to have that background and have that as an initial to be equipped in applying jobs. But it's true, that does no longer guarantees high-paying jobs these days. The job market is tough and competitive and even having experience, it won't be enough when the employers are also looking for a high skill applicant yet asks for a cheaper rate. And it's true that finding a way to become self employed is what many of the hustlers does these days. There's no longer job security and that's why instead of helping companies richer, they are working on themselves and businesses so that they'll be the one to benefit from it.

[Halifat]

The rich made the educational system and that's why we've been told that to finish college degree and have a beautiful and high-paying job working for them. It's only realized when it's already quite late for the person who understands that it only takes to a couple of experience and understanding to become financially knowledgeable. And that's what isn't taught by the rich, because what they want is a system that people only sees themselves as employees forever and enjoy the weekends through entertainment without too much to worry about their finances and future.

The education system doesn't guarantee high-paying jobs it only makes graduates job ready. Besides a productive mindset will look for opportunity to create their own employment opportunity either as an entrepreneur or through partnership. The current  inflation rate in our todays world is such that anyone who seek financial stability should prioritize their own investment as a plan for their future financial growth which is the secret to what the so called rich elites do.

There are a lot of people who just need to understand how to read and write, they have ideas on how to make money because most of them are opportune to be born in a business family, financial knowledge is never their problem despite they don't have opportunity of going to school. Being educated is very important because it has so many advantages that will improve all your activities, it make people to understand you and also have trust in you because being educated make a lot of people in the society believe in you because you can do what they cannot do and that is why it is very necessary for each of us to be educated.

[alastantiger]

Gaining financial knowledge is very much important because financial knowledge will always make you rich minded, and work towards making wealth. Acquiring education is good or even gaining degree. When you have a degree, it is not wrong because the degree you have is as a result of the knowledge you have acquired which can give you the information or preparation to get rich.
Many individuals who are rich went to school, and acquired certain degree , and these knowledge has actually help them to excel financially, and use this knowledge for their own advantage.

Anyone who thinks education is not important have not gone to school, Schooling gives you an advantage over others but just that it is not everyone that schooling is their key to riches and they need to recognise this very fast before it is too late. Education helps you to read and write and then you can use that knowledge to face life and excess but also know that what you are being taught in school, others are learning the same thing that is why you meed other advantages.

Financial education helps you when schooling can not take you pass the levels you have gotten to, to be wealthy you need not only school knowledge but also need to be street smart and business smart as well so it can give you the opportunity to gain all these other knowledge then others because it will help you in life to gain better advantages to marketing money instead of suffering like  he rest of the world are doing.

[eightdots]

Gaining financial knowledge is very much important because financial knowledge will always make you rich minded, and work towards making wealth. Acquiring education is good or even gaining degree. When you have a degree, it is not wrong because the degree you have is as a result of the knowledge you have acquired which can give you the information or preparation to get rich.
Many individuals who are rich went to school, and acquired certain degree , and these knowledge has actually help them to excel financially, and use this knowledge for their own advantage.

Anyone who thinks education is not important have not gone to school, Schooling gives you an advantage over others but just that it is not everyone that schooling is their key to riches and they need to recognise this very fast before it is too late. Education helps you to read and write and then you can use that knowledge to face life and excess but also know that what you are being taught in school, others are learning the same thing that is why you meed other advantages.

Financial education helps you when schooling can not take you pass the levels you have gotten to, to be wealthy you need not only school knowledge but also need to be street smart and business smart as well so it can give you the opportunity to gain all these other knowledge then others because it will help you in life to gain better advantages to marketing money instead of suffering like  he rest of the world are doing.

Education is important because it's a step that prepares a person for life. What matters is how you value your education and what you can do with it. Unused talent or knowledge has no value. You need to use your talent and knowledge. You need to have sufficient knowledge about the things you want to do. Education paves the way for many people and helps them achieve what they want to do.

Like many things, education alone is not enough. People need to improve themselves. Financial education is extremely important. Being able to manage the economy well and having knowledge in this area allows you to take advantage of many opportunities.

[Donk1]

​It's hard to follow up with what you saying but still, all I can say here is that knowledge isn't limited to school alone, knowledge isn't limited to the internet alone, knowledge isn't limited to the influence/opinions from other people alone in fact, knowledge isn't limited to our whole environment. The problem is do you have the mental capacity to create awareness not only based on what your teachers are telling, but based on your perspective?.Basically most times I see people just blindly follow a particular part that was written for them by other people, and am like, what is the difference between the person who wrote this book and you? Basically the difference is that the person was able to understand that the human brain has no limitations to knowledge....

​That said concerning finance, I think no matter which part you take in life, it would always be risky. Even if you go to school or not, you are an investor or a graduate, reality tends to play a role. So I think wealth can be built how ever way you want you just have to plan it that's all.....

[nelson4lov]

Knowledge is nothing if there are no resources to act on it. That's why I don't believe that the difference between rich and poor is financial knowledge. Both might have financial knowledge but only one of them have the resources to act on it. Let's not also forget that the rich have networks that provide information that the poor will not and might never have and th that is the deciding factors not just knowledge.

At the end of the day, information is power but having the resources to act on that information is paramount.

[Jubilee58]

The mentality that someone has can actually make the person either rich or poor. If you really want to be rich, you have to think like someone who want to be rich. How do I mean, the rich people think of how they will multiply their money, and don't leave huge amount of money in the bank for savings, but invest their money to make more money in the long run.  But all what people who remain poor do is to save their money in the bank, and are even afraid of taking risk of engaging in any investment that will give them financial stability in the future.
There are even those who inherit wealth from parents but still mismanage the wealth, and still become poor because they lack the proper skill, and knowledge to manage it properly.
Investment is very good, and making financial success is not all about the number of degree you have acquired, but the mentality of turning small money or business into a business empire.

[GeorgeJohn]

What's the problem with finding the information you need these days? Simply use a search engine and read about what you're looking for. You can also ask AI.

Do you think is nice to ask AI. If he should ask Ai, and Ai will give the best answer, will you post it here, or he will just read and understand and keep it within him?

Many beginning investors have chosen this path and found success. Furthermore, you can discuss various topics on forums. So, all you need to do is find some free time or devote a few minutes to reading every day.

Actually you have made a point here...anyone who wants to understand the forum, the user should conduct a research through Internet, and also observe the forum by reading across the sections, reading mostly in a pinned posts in different sections...A pinned post is were you can locate necessary information we need to exploit in the forum....

[BTC FutureKing]

There may be a difference in financial knowledge between the rich and the poor and this difference is found by looking at the circumstances.For example if a rich person does not have the skills, education talents and experiences he will waste money because he does not have the knowledge to invest money in investments. On the other hand a poor person who has knowledge skills and talents if he has money will invest it in a place where there is continuous profit.Poor people remain poor due to fewer opportunities and fewer facilities.If they are provided with good job livelihood and opportunity they will definitely improve their condition because they also want to get out of this poverty.It is not necessary that only a rich person can have financial knowledge.A poor person also knows how to save money.

[Mr Reporter]

The rich made the educational system and that's why we've been told that to finish college degree and have a beautiful and high-paying job working for them. It's only realized when it's already quite late for the person who understands that it only takes to a couple of experience and understanding to become financially knowledgeable. And that's what isn't taught by the rich, because what they want is a system that people only sees themselves as employees forever and enjoy the weekends through entertainment without too much to worry about their finances and future.

I must say you have really pointed  out what a lot of old people start realizing in their early 20s/25s well, I would not totally say the rich made the educational system, from what it stands now you and I know that the educational system was literally built for industry and to help balance the Earth's issues, it which it has produce some lot of reliable workers like, managers, engineers, and clerks, and through the educational system should have really done their part,

And in addition to our parents, I feel that back then in those days the mindset of our parents was to go to school, get degree, get a beautiful high paying job…

[Ziskinberg]

What I realized in your post is that financial knowledge can be obtained both by rich and poor. But their level of acquired financial knowledge differs. The rich people may focus on growing their wealth through maximizing their investments, while those poor people use their financial knowledge for daily survival through avoiding debts and increase their source of income.

Having financial knowledge will not guarantee someone to become rich, but those who have financial skills and strategies on how to use their funds positively will most likely get rich in the long run, and those who focus investing their money in income-generating assets that grow over a long period.

[Crypto_Timothy]

Knowing is one thing actually, then execution is another thing entirely. You can have the knowledge but the access needed for the execution may not be there and thats very crucial epecially in a day and time where information can easily be accessed online, almost anyone can tell you 20 steps to get rich or top 10 things to do to get money in 2026 but all that knowledge and not having the access to where you need to be to be able to execute your "10 things to do to get money" is exactly why there will always be a very big gap in the financial situation of people.

[Nothingtodo]

There is a difference in economic knowledge between the rich and the poor because of the difference in wealth. The rich spend their income according to a plan and budget and keep a detailed account of their spending. In the case of the poor, they spend more than they earn without any plan. If you spend more than you earn, you will fail to change your situation later. The rich have business-minded knowledge and with their money they can start a business and use the money properly. But in the case of the poor, there is no business-minded knowledge, rather they cannot use the money properly, due to which they cannot change their situation. The life of the rich comes down to a normal life, but in the case of the poor, when they get money, they suddenly start to become luxurious, which leads them to become even poorer.

[SPIDERMAN008]

There may be a difference in financial knowledge between the rich and the poor and this difference is found by looking at the circumstances.For example if a rich person does not have the skills, education talents and experiences he will waste money because he does not have the knowledge to invest money in investments. On the other hand a poor person who has knowledge skills and talents if he has money will invest it in a place where there is continuous profit.Poor people remain poor due to fewer opportunities and fewer facilities.If they are provided with good job livelihood and opportunity they will definitely improve their condition because they also want to get out of this poverty.It is not necessary that only a rich person can have financial knowledge.A poor person also knows how to save money.

Investing is possible if you have the ability to work hard and take risks. You will also notice that there are many people who were not financially rich in the beginning but have started small businesses and become owners of a lot of money. They were willing to work hard. He started a small business with little funds and grew his business with constant profits because of taking risks. Even though a person has a lot of trouble behind it, he goes ahead with a lot of financial risk. Sometimes they suffer losses but they never give up because they have the mindset to work hard. And those who have good financial status from the beginning, if they don't want more progress in life, then they just don't want to take risks. Accept the way life is going and spend the rest of life. As a result, many people do not invest despite having the financial capacity. Their mentality is different. Investment is about personal freedom. Even if they have knowledge and money, many people do not want to invest because they think it is too risky. And those who want a change in life continue to take risks, if they don't have the financial ability, they make it.