Why Everyone Should Learn Personal Finance

[moonchild]

Personal finance deals with how an individual approach finance and how he manages it, personal finance deals with understanding how finance works on an individual level.

Personal finance knowledge is not thought in school which makes it hard for most people to learn about which can further lead to poor financial decisions.

Most personal finance knowledge is gained through self education which is also known as auto didactic, this deals with reading of books and watching videos while gathering knowledge and then applying it to our day to day activities.

There are books that are recommended worldwide for personal finance, one of them is

Think and grow rich by Napoleon Hill
Rich Dad, Poor Dad by Robert Kiyosaki and others.

I think it's a personal responsibility for everyone to learn about personal finance because it'll help tremendously in how an individual interact with money.

There are also online courses about personal finance that you can learn, this is more advisable if an individual is in a career line and don't have time to learn on his own, a course has a structured way to learn and most of the courses out there have a feedback section where you get to interact with instructors for any additional information.

 

[Jasz]

Everyone should learn personal finance.
Because if you don't know how to manage your money and keep track of it, you will end up broke. It's as simple as that. And since we're all about helping people get ahead, we want to make sure you're getting the most out of your money. But why does it matter so much? Let's take a look at some reasons why:

1. You can't get ahead if you don't know where your money is going. It's like trying to drive a car without knowing how far you have until empty, you may think you have enough gas to get there, but in reality, you're going to run out before you even hit the highway! The same thing goes for personal finance: if you don't know where your money is going, then chances are good that it isn't going where it should be, and that's bad news for your wallet.

2. Knowing how to manage your money means knowing what investments are right for YOU (not just what everyone else says they are). Learning personal finance means learning how to invest in yourself: whether that's investing in education or health care or retirement savings accounts.

 

[cashisking149]

Statistically even people with massive salaries live pay check to pay check and that is down to a lack of understanding of how to manage money. The wealthy understand that they can leverage financial literacy to turn even a modest salary into a huge pot down the line that keeps on paying.

 

[Ithedicious]

The point is that , so many people who are so interested to succeed in life or maybe those that have a building project or anything tangible to do with money will always know how to manage the little monetary resources they have.

But people who are just interested in life's pleasure will always be spending their money unnecessarily , not only on things that will help them progress better but things that will likely draw them back from achieving progress .

But whatever the case maybe , it is very important for us as all as individual to know all what we want in life and try as much as possible to achieve it.

Normally when we have a life goal, the possibility of us saving money to achieve them will be well planned . you can come to think of it , so many people who do not have as good financial management are those who do not have anything reasonable to do with the money they are earning.

 

[btaliat]

The only argument against school or formal education is that they always teach theory and not really the life fact. They don't expose students to what will happen outside school. They are concerned with how the students will only reason if he's faced with such a situation. This has made many to lack financial knowledge. Not many can handle finance well. There are some that will hold a million today and tomorrow they are broke. Why? They are not exposed to now to multiply money, they multiply numbers.

Knowing much about financial knowledge will make us more independent. Someone who's skillful in the mastery of finance will learn how to sort out many things that will make him or her independent. There are many skills outside there both in written and even in videos that one can watch or read to make one's much more independent.

Aside this, the person will know how to manage his money. There will be time to spend and time to save. In fact, he will be taught on how to forego some things for the others. There is no richest person in the world that doesn't have the knowledge on how to handle finance

 

[Augusta]

Learning personal finance is very important for anybody that wants to gain financial freedom because in life after having free life you need money to keep the life going and one way you can continually have money is by planning it out.

One thing is to have money another thing is to know how to spend it wisely and if you don't spend it wisely you can go broke most of the times. So what will help you with are planning, budgeting, executing and saving. With personal finance you can sit down on your own from experience to draft your budget and see how you can live with it comfortably personal finance will help one to track his or her income and expenses and see how to always make the income exceeds expenses doing this will help you to have a good personal financial life that will be devoid of debt and brokenness.