School has failed to teach us how we need to spend our money but come to think of it, does the school system have to truly teach us everything? Well maybe they do need to teach us because the high amount paid on tuition fee these days is so high that we should get the value for every penny spent, but looking at it in another direction, the school system was set up to have us believe in the fact that the essence of getting education was to get out of school earn well and also spend well.
As much as the political and financial sector in countries have changed so much from what they used to be, the educational system have chosen to remain fixed to the channel that they teach about finance, when students graduate from college and they try to follow the path they have been taught in an already changed system, it does not end up working well.
Without much ado, let’s get straight into what we have to know about finances that the school system will never teach us.
Big brands understand how much we spend based on our emotions and that is a reason why they perfectly know how to pull up things that makes us even spend more. The only way to prevent ourselves from regularly falling into this scheme is by getting financially educated and since that is not taught in school, it can only be outsourced.
Another very important rule that the school system fails to teach is in the fact that, one stream of income is never enough. The school system advices to put all your time and effort into a salary paying job and live from pay check to pay check or possibly set some little amount aside for retirement purpose but the real financial world is ruled by those who have the chance to outsource and create a channel to have multiple streams of income.
Schools also advise us against getting loans and taking risks while the world is basically ruled by those who are capable enough to take risks. Before any loan is approved, credit score will be checked and since the school system is not in support of this, it does not show us how to build our credit score and that again needs to be outsourced or never fill into the category of those who have a good credit score.
Having a saving habit is very important and the school system does not have the time to teach us the importance of saving, unless of course we begin to learn that ourselves. These and more are numerous things that the school system fails to teach us and it is important for us to outsource them or have our financial knowledge remain in shambles.