Topic: Difficult to get proper financial intelligence and education (Read 280 times)

Well you may or may not trust youtube, or you may or may not trust any other source neither, but at the end of the day we have to trust some of them to understand whats going on. Otherwise what's the other option? Not to learn at all?

It means some people with real ideas of how things work, maybe they will do it themselves but it would still be suspect to suspicion because at the end of the day we are dealing with something that doesn't work for us if we do not know if he is a smart person, but those smart people who know things could be lazy and not do it themselves but could find out what they think would be useful and that would be useful for us. That is how I think that should be done. I watch a lot of youtube videos of people I trust, and people I trust suggested as well, so that is why I think it is quite obvious that we should be careful about these.

There is an abundance yes but the problem is where and how are you going to find the right one because most websites and videos do not care about the content, they need the audiences so I think that it is debatable as to whether it is easy to learn things nowadays, in a way I agree with the title that it is difficult to get a proper financial education. I agree that education matters but we have to have the right resources for that because finding substandard resources will result in a substandard quality of education.

Kids are playful and it is really not that easy to teach them at the young age on how to deal with financial intelligence.

Tell them to feed their curiosity at first and explore the essence of money, on how to earn it, how to spend it and what are the things that can make them lose it.

When they acquire the proper mindset and willingness to know more about money, that's the time you will give him money to invest or to know the feeling of having money to spend.

Therefore, in that situation, he should choose between investing or spending.

We cannot fully trust what’s on the internet since many are not true and just doing that for you to subscribe. This thread is a great summary of the things that is important for us to learn first in trading, I don’t fully trust youtube because not all are good enough for you to learn. If you want a more complex details about trading and about financial education, you can read many books about it. Financial literacy is very important, most of the people don’t know how to properly handle their money despite of being mentored, we really have a good source of knowledge and someone who are genuinely willing to help you achieved financial freedom.

You can get financial education at school but it won't be the "proper one" in our terms. It's going to be a proper one in government's terms.
I know that children are being taught at school that they should be responsible and not hold too much cash because it's better to keep money in the bank and that every responsible citizen pays taxes.
They're brainwashed from their early days.

In my training as an engineer at the university, I saw economics, I saw some applied theories based on recognized authors from South America, everything was based on traditional schemes where they are fully met because they show the ideal brought to reality. After one moment to another, from one period to another, these theories became obsolete, not only because of the country's economic scheme, but also because no economist can find the solution to a scenario of galloping inflation, where the main central bank can no longer disguise the Numbers for the reports and do not show the passive rates because at the time of making the corresponding calculations to value any land, property, machinery, it does not correspond to reality.

When you read books by Warren Buffet, Richard Wyckoff, Jesse Livermore, Bulton, Kiyosaki, even Trump himself, they teach many theories, based on their experiences, how to invest, what criteria to take for investment, under what parameters they can enter a position to trading, and how you can analyze a stock or currency taking into account multiple fundamentals, business-focused financial education is what really matters.

The contents that OP shows are very important in the life of any investor and speculator in the market, and if it is not, it is also necessary to have that type of education. Where I had the knowledge from now when I was studying in university, I think I would have left it, I would have dedicated myself to being a Bitcoin investor or speculator (When there were those taps in 2009 I was mining bitcoins, I would be a millionaire today) and I would have a life more relaxed in every way, where the economy became a second plane, since it would be full in that sense.

With a growing technology that we have today, I can say that its easy to learn things nowadays since you can just search online the information you needed so there’s no reason to get left behind.

Education matters even if people don’t want to spend time learning and just want to go straight to the market and make money, as if its easy for them to think like this. Proper financial knowledge will bring you to the real financial freedom, so I do suggest to spend more time on learning first before entering in the market as a trader/investor.

If people want to retain their freedom, standard of living and rights. They must do a better job challenging their knowledge on economics and finance. An inability to define exactly how healthcare in the USA is broken has always left americans powerless to fix issues related to healthcare. Topics like wealth inequality, decreasing standard of living and poverty are the same. People are very enthusiastic about addressing negative issues in society but lack the knowledge and information base needed to do so successfully.

The digital age has been a massive information overload to those who are willing to learn.

There is a proverb: "A little knowledge Is a dangerous thing"

As more and more information becomes available on the internet, we also see the rise of disinformation. People are not used to fact-checking and fall into quick-easy one-pager of everything. When it comes to proper financial education in general or even in cryptocurrency.

I suggest the following:

1. Always start from the basics.
Whether it is studying basic finance, trading or crypto. Always start on knowing what it is about rather than the "pRoFiT and gAinZzz" it will bring you.

2. Read and study a lot.
Read from trusted source and learn from free-courseware. Here are some links for free finance courses and materials:
EDX Finance
Class Central Finance
Coursera Finance

3. Practice and commit mistakes.
By practicing what you've learn you are going to commit mistake that will help you in the long run. Avoiding pitfalls and devising a plan whenever the opportunity provides. Practice makes progress, and progress is key to learning and ultimately success.

4. Adapt and Discuss.
As you learn more, connect with people knowledgeable on the subject you want to master. Discuss certain topics to broaden your mind and understanding. Never let the little knowledge you have deprive you from the wisdom that others might pass on unto you.

5. Keep on learning.
Never cease to learn new things. Whether a new trading strategy or a new blockchain platform, never shy away from new learning that might lead to new and awesome technologies along the way. A hunger for knowledge never quenches.

That's true, most people aren't interested in learning, they just want to make a few bucks, quick and easy, hassle-free. The Ponzi scheme is extremely popular because it offers high returns, in a short period. I've studied some basics of cryptocurrency and Bitcoin, I'm no expert of course, just another newbie.

Knowing the basics of Blockchain and Cryptocurrency is fundamental knowledge nowadays, everyone who is into this sector must have some knowledge regarding this subject.

I've also created a similar thread with some related courses, if you'd like to include them in your thread. Could be useful in the long run.

https://bitcointalksearch.org/topic/m.56229560

Apart from that everything is good in educating children about finance, there is something that is much more important, namely as the theory of Taksonimo Bloom in several educational books I have read when I was in my time last year and I happened to be majoring in elementary school education. that is, where the psychological development of children must be adapted to three domains: cognitive, affective and psychomotor.

parents should really pay attention to these three domains. because talking about finance is number 2. The first one remains within the scope of the family in order to create children according to their psychological development.

1. in the cognitive realm, which includes the recognition of certain facts, procedural patterns, and concepts that allow the development of intellectual abilities.

2. Affective domain, which is related to the development of feelings, attitudes, values ​​and emotions of children. thus it can be reviewed through the moral aspect, which is shown through feelings, values, motivation, and attitudes.

3. Psychomotor domains related to manipulative activities or motor skills. therefore, by understanding a
science comprehensively, has a strong implementation power in applying the knowledge it has.

Without guidance, someone will find it very difficult to understand detailed information about cryptocurrency, especially technical issue. All information in this forum require that we learn and practice on our own. This will present a different experience for them compared to those who gain knowledge from guide and direction and demonstration.

In the era of digitalization, it is appropriate to teach 12 year old about investing and how they think about money. They have to get a lot of information and study it to be sensitive enough to their own future. Right now, there are quite a few demonstration of how money works for us on YouTube and that is an investment. Children should know and learn it and 12 year old are not too young to get this information in my opinion.

Financial intelligence is an effort to enable and educate children to be able to understand simple daily financial activities or activities, the house or family that comes together every day will be the basis for children to apply it directly.
Teaching children to appreciate money by setting aside pocket money for savings is a good thing to get used to until adulthood, then introduce bitcoin and how to invest with basic knowledge and continue to be taught starting from reading books, google, youtube and so on. because it will be easier to understand learning with parents or family than with other people or school.

I would recommend to learn atleast a bit about finances. Sure you can hire a financial manager for you that is going to manage everything for you. But how do you know if the guy is any good and worth the money you pay him? Without any background in finance it will be very hard to understand what your asset manager is going to propose to you. Some people might want someone who manages everything and they have never have to worry about it, but I am would advise against it. Reading a few books about financial independence is very helpful, we can all learn from it. I would recommend anybody who dreams about being financially indepent to learn about how to invest and how to manage your portfolio. It will increase your chances of not falling for a scammer or ponzi scheme.

if there is an error, please correct me. but so far in terms of financial management skills, that's impossible achieved only through access to finance, but we need to change financial behavior to each individual. This means that financial education does not automatically change a person's financial behavior. Therefore, in other words, financial education needs to be carried out in an integrated manner.
Social education must start from an early age, when children are in their golden age. Namely where the period of growth and development really has an influence and determines the period of further development.

In rural areas, 100% of children save a large amount because their parents leave the money to save through saving son at school. As for urban areas, it is very different between children and parents who have their own portion of savings. In addition, rural communities are more dominant in the agriculture and business sectors related to nature. The rural family is a work unit. Low population density, small community size, customs as social control and low mobility.

This is where the role of the school becomes the first community to get to know the outside world. By implementing social financial education in schools requires comprehensive steps. one of which is the teaching curriculum, the material being taught and teachers who are dedicated to the smooth implementation of social finance education in schools.

You don't have to learn everything about finances, you just have to learn the basics and hire a financial manager or someone involved in finances that can help you on your decisions when it comes to finances but when looking for someone, you have to make sure that they are a certified fiduciary so they will always choose the best for you. Learning about finances should start at a young age because at that time, mindsets about things start to form and those mindsets are really difficult to be removed during adulthood compared to just learning about it in adulthood where you have to remove some mindset in order to put something new which is difficult.

I agree with you both, its so important to learn all about finances especially
at a young age. It affects everyone in all sorts of ways obviously.

Being able to manage money is key. I would be like dothebeats, I wouldnt call
myself an expert in finance [or in anything really] and its only since I got
involved with Bitcoin that I have learned the value of managing finances.

In my country Business and economics are taught to higher grade classes,
not everyone is taught the same lessons.

I would class economics and finance as an essential life lesson, like Mathematics,
Computer Programming, Language, First Aid and swimming.

Financial education for kids is extremely important but I do think they won't understand much if they rely on sources since for kids it's more successful to do demonstration, let them experience what it's like to manage funds. You can start by giving them small pocket money and at the end see how the kid tries to use them or maybe give him some Bitcoins. They can learn all the valuable lessons by themselves and I do think if you are interested in finding sources there are plenty of books regarding that, I do think google is already the storehouse for knowledge. What's more important is the practical part but kudos on understanding the need of such education at an early age. Plus Khan academy have videos about Bitcoins and cryptocurrencies, they are extremely simple yet effective.

Personally I just know a few small intricate details on how the economy works in general, and this, to me, helped me position myself on times wherein most people around me are having a tough time on their finances. The importance of saving and investing should really be taught in a young age to all educational institution, as this is one of the most basic aspect of the economy wherein a lot of the younger generations are failing to grasp and having a hard time dealing with. Also, the difference between 'saving' and 'investing' and when should each of the two be done is also critical, as most people are inclined to save money--which doesn't yield anything in the long run save for a few % for years--than trying to invest and lose some along the way.

When I hear about finance related to educating children for the future, this really needs to be based on how we educate them from an early age. I think this is based on what I understand and try to apply it in the family sphere. Family as the first education before children go to elementary school level, by applying the values ​​of financial literacy values ​​will be very effective and much more attached to children's cognitive.
That way the child will know how to manage the finances that will be taken. Because financial education becomes a foundation for achieving independence.
There are several methods that I often use, including.
1. Trying to provide a simple understanding to children regarding advertisements that are increasingly being discussed in various media, one of which is bitcoin news which has filled various channels in our media, be it television, youtube, and other social media.
2. Familiarize children with saving and building short and long term goals. For example, if my child wants to buy a toy from the remote control, then I often give an example of saving from the remaining allowance, this includes achieving short-term goals).
3. Involving children in several financial activities in the family, for example dividing tasks in shopping for food needs in the kitchen through a grocery list.
4. Inviting children to contribute in raising money, for example, inviting them to trade in order to increase daily profits. And much more.
That way children are accustomed to managing finances, so that they will get used to it in the future when they face increasingly digital economic changes.

There are many people in the forum that just try to make a Satoshi here and there and think of crypto and bitcoin as just another stuff. They are not interested in learning and they do not really believe that crypto can actually be a real change to the way the world works. Probably, for them bitcoin is just "tulipmania" or a "ponzi".

If you are thinking on how to get some proper financial education, including crypto, it may be difficult to work around the massive amount of dis-information. Too many you tubers selling you "the best trading strategy" or "giveaways" or "this fantastic project" or "investment with high yield".

For those in the forum that consider that have succeeded in understanding economy, currency, crypto and bitcoin... would you like to help other and put forward the best resources? Ideally, those that can be understood by a 12 year old, as many people here do not have the privilege of a good education. I will have a look at the answers an probably wrap around the results if it is worth it.

What is the really basics for you?


I got this from a thread requesting info on crypto alone: