"The number one problem in today's generation and economy is the lack of financial literacy." ~ Alan Greenspan
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Greetings To All Readers!
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Hello Hive Learners Community!!!
Without much ado let's begin it 👇:
Financial Literacy is actually making smart choices about your money. It include saving, budget, investment and money management and making financial decisions wisely.
I'm youngest in the family and favorite of everyone. No one asked me to save or manage money. My family became happy when they saw me spending money on unnecessary snacks, clothes and toys.
After all, what’s the fun in saving when you can have fries, clothes, and phone credit now?
I belong to a middle class family. My parents wanted me to earn money but they didn't focus on giving me financial education about money management and growth.
The Moment I Realized I Was Financially Illiterate :
After loss in business I have to do a private job because I don't have any emergency fund to restart the business. I spent 4-5 months on the job and I experienced my salary spend in just 10-12 days. Remaining days I have to ask my parents for money. That was very embarrassing for me as a grown up man. That's when I realized: earning money is one skill; managing it is another.
I'm emotional person who stressed over minor issues. I made many financial mistake but I learned lesson.
I learned to track every rupee.
I started differentiating between needs and wants.
I learned the value of emergency funds or savings.
I shifted my mindset towards investment over spending.
I learned the role of budgeting in wise spending.
I learned many lessons and I am learning. My ultimate goal is to attain Financial Freedom.
When Should Financial Literacy Begin?
Financial Literacy should be teach in early age by building saving habits in chilren. Parents are our first teachers. I remember Mom brought saving box for us. Moreover, In high school there should be a compulsory subject of Financial Literacy.
Final Thoughts :
No one taught me Financial Literacy I learned by making mistakes, stress and wrong financial decisions. But it's our duty to make our generations financial literates. Let's talk about savings, budgeting, minimalism, investment with no fear.
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That's all for today's blog!
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Images used in this picture are designed by author otherwise source and credited.
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