Why you should be Financially Literate
Being Financially literate will help you in today’s world, however, it’s not taught in schools. But, it’s a good thing that you can learn it outside the school. And once you master it you will gain complete control of your finance, instead of you working for money, your money will work for you.
If you invest in financial education, you’ll get “long-term.” You can use it in your career, in your business, and you can even use it to manage your cash flow. However, if you invest in something but you’re not financially literate you’ll get “short-term.” Because it doesn’t matter if you’re earning 5–6 figures of income, if you don’t know what is financial education, then you’ll struggle financially.
Photo by Jon Tyson on Unsplash
You’ll be surprised when you see a poor person wins a lottery with tons of cash and in the next years after, they’re poor again. Why? they don’t know how to manage their cash flow, they don’t the difference between asset and liability, and most importantly they’re not familiar with the term “Financial Literacy.”
The possession of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources.
You can become financially literate if you open yourself in new ideas in making money and building wealth by simply watch YouTube videos, take master class, and read books.