Topic: How can we improve our country's economy by on culture or ecosystem? - page 4. (Read 842 times)

That’s very educating article you have written. I always keep telling myself the only way to earn more save more is through proper education on how to “manage the income”. Obviously if I am capable of doing it then I would promote myself to new levels of monetary savings.m which will ultimately help the country to grow. Well if I’m managing properly then I am also paying my taxes on time, I would be making more progress every year and thus more contribution towards the taxation as well. Definitely agree to entire article. I won’t go much in the technical analysis because that is different part of investment or rather way of earning money.

It's true that there have been a effective use of the advanced technology with improved innovations over the use of the internet and social media and the pace is fast increasing, but still yet, there are means to which some of our local traditions affects this advanced was of introducing new technologies because we are too used to culture and traditions and don't want to take risk for trying something new, but because but because of the wide adoption of the social media, it's becoming more difficult for this cultural and traditions less effective on the economy advancement.

On average, what we see is 80% of the loss and a small percentage of them are able to survive and get the highest take and profit of 10-20%, the lowest is 5%, if there is one. This is a common condition that I have noticed from friends who are active in the world. trading. When you're a senior, you're sure to be very different in terms of skills and emotional control.

There's still a big factor and contribution of someone's skill and that's why if someone who's too skilled on many things, the chance of being successful is high.

Having that, that person will be able to help and contribute to improve the economy of the country through the skills he's got and the result of it, salary.

But this topic seems to be giving the burden to the shoulder of people who just want to work smartly and hardly or, I may have misunderstood it.

@OP you're completely wrong.

Making money, money management and growing money are affect individual's wealth, not affect country's economy. If you want to improve your country's economy, you must report your total earnings and pay your tax! this is the most important factor to improve your country's economy.

Now I ask, you're participate in signature campaign and you're get paid every week, you're live in Asian country where it's mostly third world countries e.g. poor. Do you pay the tax from your earnings in signature campaign?

In India there is to much power in the hand of politician , Judiciary, IAS and IPS these people most of the time they miss use their power, if we want to fix this problem of ecosystem then first we have to remove this system. In India there is an unity in people then they can protest. People can easily get united and can remove corruption. And yes to improve country's economy we must have to focus on tourism as well as need to give boost on business and investment and also can invest on eco friendly industries like waste management, renewable energy and organic farming etc.

The presence of social media makes it easy for us to introduce anything to the world, if we have a good culture or place, it is time to invite many residents or anyone to actively introduce these tourist attractions, this has proven to be more effective so that it will make the economy of local residents increase.

Agree with you, besides that, for a country to develop economically, it has to fix all of its infrastructure first. Until it connects to an area that the area cannot access. In order for the mobility of goods and agricultural products to be distributed to cities, human resources must be educated. In essence, the government must make policies (revolution of the economic system) so that people are more productive and reduce budget spending that is consumptive so that the government and society can create products that can be marketed to other countries. In addition, the legal system in each country must also be even better where corruptors must be eradicated with stricter sanctions against corruptors. Because these corruptors always take the budget for the welfare of the people.

Investment is taught in the school environment, it is very good as you said, but it is also important that the mass media educate financial literacy education because the mass media is also able to shape the culture and public perception of financial education so as to increase awareness and understanding in managing their finances. Of course, the most basic of financial education is the family because everything has to start from the outside environment first. Parents have a very good role in teaching their children about money management, saving and making decisions when investing. Taking steps like this can help society in general to deal with financial problems better in the future.

If in Asian countries children are taught to save and in European countries children are taught to invest, in Latin American countries children are taught to spend or to borrow money.

It says a lot about the mentality of each group of people and how the local governments handle the financial matter. At schools this subject is almost inexistent, and that is a big issue, because it's there where we should have learned how to invest smartly, how to avoid inflation, that is fiat's depreciation which has been happening along the years and decades. Now this reality is slowly changing for the better, thanks to the internet and opportunities of investments like Bitcoin, which are decentralized and opened to everyone.

But if we had to wait for our local authorities and intellectuals to enlight the masses, we would be lost!

Trading in the long term looks more like an investment even though it's not that much like an investment because it will still sell immediately when it sees the profits already there. And I think that for trading, the method will not always be the same for everyone because it is indeed influenced by time and also existing knowledge.

Apart from that too, if things like trading and investing were taught in a school environment, I think it would be very good too because every student would learn how to see risks and also how to see an opportunity when targeting profits on what they are going to do. So all these new things and concepts will not be a loss if they are learned by students at the upper secondary school level.

The lack of awareness about financial education can indeed have an impact on our culture Without Proper awareness it becomes Challenging to understand technical aspects and incorporate them into our daily, lives and culture. That  why the main point is to enhance our culture by acquiring financial education and learing how to apply technical concepts to our everyday lives

If these concepts are actually taught in schools the culture will benefit greatly. Long-term trading is an option if you work a job and don't have the time to do anything extra like trading or sit in front of a screen. You can get the proper ideas in this regard via technical analysis.

To improve a country's economy one way is to promote the tourism by showcasing the country's unique cultural heritage and natural resources. It can be done by showcasing cultural festivals, tourism and promoting the different cultural practices of the country. To invest in eco friendly industries such as renewable energy, agriculture and green technology. It can help protect the environment and also it can create job opportunities and boosts economic growth. A strong focus on culture and ecosystem can lead a sustainable economic growth while also preserving the country's unique identity and natural resources.

True. It's way easier to take risk in a society where you have job security and other social amenities like healthcare and the rest. In a place like that, people tend to take more risk with their money.
But still, it doesn't mean people in Europe all invest their money because they investing is something that people learn to do. Not everybody is inclined to invest. Investment is not thought in schools, so it something you use your initiative to do.

In some societies in Africa, young people are even advised against chasing money. It's the current generation that is turning things  around. This has been part of the problem Africa has been facing. There is a believe that only older people should have a certain amount of money. This has been a problem for the older generation and they still feel the effects till today.

We could install a two (or more) class money system, where the inflation rate of the higher class is higher.

For example:

- Persons with a yearly income of more than 100,000 USD or savings of more than 250,000 USD could just use "Currency A" with an inflation rate of 5 percent a year.

- Persons with a yearly income of less than 100,000 USD or savings of less than 250,000 USD could just use "Currency B" with an inflation rate of 20 percent a year.

- Prices should be pegged 1:1 between Currency A and B. For example: A bread costs 1 USD - but group A can just buy with currency A and group B just with currency B.

In a developing country, having a knowledge of entrepreneurship can help solve the problem.  Since we put the task of earning money through our selves directly, we remove the middlemen, who often gets the biggest share of profit, in the system.  We have seen several proof how creating a business and making it succesful helps a family to improve their status in life.  Financial literacy may help but without finances to manage how can this knowledge be applied.  So I think it is better to establish a steady source of income while we are learning about the ropes of financial literacy.

if you have such limitations in your country, it means, you also need to change your lifestyle to cope up with your survival. i understand that it is hard to live if you are just earning enough to pay your bills. look for alternatives to improve your economic status, maybe, it is where you live why you are on such situation. move to an area where the cost of living is low, just to give an example.
improving our country's economy is hard as it is beyond our control. but you can always improve your status of living on how you do things in life.

In our case, we are in a 3rd world country no matter how hardworking you are still you need to work around 2 to 3 jobs so that you can feed and supply your family needs in this kind of inflation. Yes it will be very helpful if financial literacy will be teach in schools but in a reality if a country doesn't have enough resources and plan that will help people it cannot be done so easily. Improving economy of a country literally involve the government with a good plan and strategy on everything.

If you start to think about losing the value of money saved and stored for a long time, that means you need to look at other assets as your savings for the future as a substitute for saving money. But at any given moment you have to be able to generate money so you can buy other assets that are unlikely to lose their value and will always have value in society.

And in this case I will also give a few examples for assets that may not lose value in the future, those assets are land that is located close enough to an environment where there are more people living there to live a decent life, as well as gold which is still a precious metal in the eyes of the public so that the demand for it is still there and does not decrease every year. These two things can be good savings for the future even though both have to be obtained with money.

Saving causes money to lose value which is primarely brought on by illiteracy. Teaching these concepts in stages while students are still in school may have positive effects on future outcomes

I don't know where OP got this concept. But it is not possible to say that all Asian countries teach their children to save and European countries teach their children to invest.
You are right, it depends on the customs of each country and the economic situation of each family. Many families live in a situation where they don't even have enough to eat every day, advising them to invest is crap advice, saving is what they need. While many families have a better life and want more income, investing is the right advice for them. And in my opinion, between saving and investing, I still think that saving should be prioritized and more important.