I so much believe in the old statement that raises the importance of asking doctors about medicine and baristas about coffee. But, when it comes to 'money', who is that expert we can ask all our money-related questions?
Oh, how can I make money?
How can I Invest?
Where should I Invest?
Is Cryptocurrency a good alternative to explore?
Do you see that? So many people have many questions about money. We spend so much time thinking of how to make money. It's funny how we still think of money even after making the money. Someone that works hard to earn will still think hard about where to spend or invest the money.
If you believe all these to be true, then let's explore the idea of financial literacy. It makes for a very interesting topic especially now that even a teen wants to get into a Richlist of some sort.
Financial Literacy
By definition, we will highlight the one by wikipedia which says that Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources.
Finance-related courses are still getting a lot of attention in Universities and they sure do a good job of teaching the basics. I know this because I spent 5 years in University studying a lot of Finance related courses.
I studied Banking Laws and Ethics, corporate finance, international finance, financial management, advanced Economics, Micro and Macroeconomics, etc.
The list goes on and it gives a theoretical edge, but what I can say for sure is that just about anyone can gain a decent amount of financial knowledge without passing through the route of a University. The internet is a strong tool that can be utilized by all to do research and know what is in finance.
If you are diligent enough, being financially literate is something you can do on your own by running intensive research about finance-related topics. I know this because I do it and it works.
The interesting part of this discussion is the practical aspect of your financial knowledge;
Can you believe that I never got to see a Cheque Leaflet throughout the 5 years I spent as a Banking and Finance student at Uni?
The practical part of financial literacy is something I was robbed of because my school was all about theories. But, the theories alone are never enough to change the trajectory of your financial status for good. You also need the practical side of it.
When I got into the real world, it was just a matter of time before I realized that having only theoretical financial knowledge is the same as having half-baked knowledge. I explored the practicals and made my mistakes along the line but the good side of this is that each mistake also comes with a lesson.
The step to take in your desire to acquire financial knowledge is not a simple one, but it's also not overwhelming. Just focus on learning as much as you can whenever you see an opportunity to do so. As you learn the theories, do well to apply these theories to your financial decisions.
Thanks For Not Missing Any Full-stop Or Comma
Thumbnail Image from pexels.
Additional image from pexels.