Topic: The Role of Education in Financial Literacy - page 3. (Read 2074 times)

Yes ,you are right. Financial knowledge is very important to grow in life. Knowledge kick any person for work and struggle for success. No one became successful without knowledge of finance. Because I saw many athletes who are bankrupted after retirement. They earn money and had no knowledge of investment and they wasted their money in useless things and they bankrupted at the end. They did know how to invest in investments ,they lack knowledge of finance. Financial knowledge is also very important in our daily life to manage our expenses. Financial knowledge gave a path to grow in future and it gives a lot of opportunities .

Education is a consequence of our intelligence and education. And I think that if an investor does not have an economic education, but understands the principles of economic relations at the level of native understanding, then this is good. And such a person does not need education, since it will only streamline his thoughts, but it will not help globally. And there are reverse examples when people have an economic education, but do not understand the principles of money at all. But in any case, I believe that everyone should understand the principles of finance that Kiyosaki described in his book Rich Dad Poor Dad.

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How to Equip Yourself with Essential Knowledge to Succeed in the World of Cryptocurrency

As the world becomes increasingly digitalized, the importance of financial literacy, especially in cryptocurrency, cannot be overstated. With the rise of Bitcoin and other cryptocurrencies, it is crucial to be knowledgeable about these assets and how to invest and manage them wisely. However, the question remains: what is the role of education in financial literacy?

While some people believe that hands-on experience is the best way to learn, it cannot be denied that education in economics and finance can provide a strong foundation for success. Higher education can teach valuable skills such as critical thinking, data analysis, and risk assessment, all of which are crucial in the world of finance and investments. It can also provide theoretical knowledge that one would not otherwise acquire through everyday experiences.

On the other hand, some argue that education in finance and economics does not necessarily equate to financial literacy. They point out that many successful investors are self-taught, and that practical experience is the best teacher. Moreover, they contend that education in finance can often be expensive and not accessible to everyone.

Despite the differing opinions on the role of education in financial literacy, it is clear that individuals should seek out knowledge from a variety of sources to best equip themselves to succeed in the world of cryptocurrency. This can include following cryptocurrency news and social media, reading books and blogs on finance and investments, and seeking out practical experiences through investing and trading activities.

Do you know that many people do not understand the word financial literacy and do not care about the reality of people's lives? But it can help a lot to anyone or any of us in this world. Well, in fact, there are people who do not know that they have financial knowledge about financial literacy.

Because there are people who were poor before but now their lives are prosperous, they just started with a small business, but eventually they grew their business. Maybe when they started, they were not aware of financial literacy, but they didn't know and noticed that they were already doing it when they were just starting to persevere with their business. There are others who have learned and studied it but can't apply it in their lives; some still have jobs; others have tried to build a business but it didn't grow. You get my point?

Financial literacy is not something that is acquired from school,  it is something people can acquire by themselves from the books they read .  School can never teach you how you can make money , school will only educate in a particular career which you yourself you have to think yourself how you can generate money from the knowledge attained. It is rare to get a school where they teach people how to make money,  financial education is mostly acquired by self development. It is very important in the every day life in how to generate money and how money is to be spent.

In my opinion, education doesn't really play a role in carrying out financial literacy, we only get a too general picture about finances, even though I graduated in 2020, I didn't get any lessons or introductions about cryptocurrencies, I don't know about education in other countries but what happened in my country was that education didn't happen. changes over a long period of time.

Why oppressed education? The government always wields official authority to enact measures upon its citizens without interference from others. The government possesses laws and unrestricted access to media outlets, along with the applicable permits within the nation. Anyone daring to defy the government may face a punishment that appears lawful, yet it remains shrouded in secrecy.

No matter how one looks at it, education is of paramount importance to all citizens. Even the government would not risk turning its populace into ignorant individuals. The repercussions are substantial for a nation's progress, and the poverty rate would serve as a gauge of a country's success.

A critical thinker can be silenced by the government. The use of governmental authority offers a convenient means to control its citizens.

There's a reason why a lot of dictators and totalitarian regimes throughout history have oppressed education in some way or form, and that is to prevent their people from ever becoming critical thinkers and becoming an active member of the society that they're in.

It is true that sufficient knowledge is required for one to be successful but amongst places to acquire financial literacy, the four walls of the classroom or educational institution isn't crafted to attend to the class of knowledge required to achieve such feat. Successful entrepreneurs are self-taught because they go for what knowlegdge is required to acquire the finances of the businesses they control. You know entirely, that the amount of information you have is what will take your business to greater heights, hence, you are ever in the quest to know more, but educational syllabus doesn't factor that in, they only make provision for what looks like foundation and then they graduate you.

I do not playdown, in any way, the investment in education but financial literacy isn't a product of the educational system alone but one's desperation to succeed drives him to know more and keep searching as long as he's in business.

Despite the differing opinions on the role of education in financial literacy, it is clear that individuals should seek out knowledge from a variety of sources to best equip themselves to succeed in the world of cryptocurrency. This can include following cryptocurrency news and social media, reading books and blogs on finance and investments, and seeking out practical experiences through investing and trading activities.

In my opinion, education doesn't really play a role in carrying out financial literacy, we only get a too general picture about finances, even though I graduated in 2020, I didn't get any lessons or introductions about cryptocurrencies, I don't know about education in other countries but what happened in my country was that education didn't happen. changes over a long period of time.

Despite the differing opinions on the role of education in financial literacy, it is clear that individuals should seek out knowledge from a variety of sources to best equip themselves to succeed in the world of cryptocurrency. This can include following cryptocurrency news and social media, reading books and blogs on finance and investments, and seeking out practical experiences through investing and trading activities.

Actually, when it comes to fundamental financial literacy, it is more or less common sense. Here in my country, however, there is a growing demand that teachers, especially public school teachers, undergo financial literacy. That's basically because they seem to be the primary prey of loan sharks, investment scams, and all kinds of offers. Many of them fall to these schemes and are buried in loans.

I wonder why this is. They are educated people. I bet they must aware of basic money management, credit or loan management, responsible spending, saving, and so on. I guess this isn't about the lack of financial education anymore. It is more of financial self-discipline. It's more of overall awareness, of knowing how to distinguish risk and red flags, and not just in finance.

In my opinion, education doesn't really play a role in carrying out financial literacy, we only get a too general picture about finances, even though I graduated in 2020, I didn't get any lessons or introductions about cryptocurrencies, I don't know about education in other countries but what happened in my country was that education didn't happen. changes over a long period of time.

I am not sure if this is hundred percent true or not. There is friend of mine who is MD Surgeon in orthopaedics. He has done hundreds of major and minor surgeries till now but one thing he never did is, saved. He did not save his money properly, Never thought of investing his money in some sort of investment portfolio. All he do is live an expensive lifestyle, get good cars, enjoy holidays in exotic places. The question is whether he would be fine when it comes to emergencies in the lifetime or maybe things go south in the future or at the age of retirement? He doesn’t care about it even if he is so much educated and talented. Sometimes peeps are not thinking straight. They would just think about the current timeline. However, in today’s world you never know what sort of situation will hit you hard. Better get the lesson from inside out with own sense of managing finances. No one can help oneself with that.

The thing that most often traps people is the comfort zone, right now your friend is in the mindset that there is no tomorrow, he always spends a lot of money in proportion to what he earns, in the long term, of course, his lifestyle is very dangerous, he will definitely borrow money or sell valuables when he is really in trouble for money, financial management education is important and not everyone wants to take the time to learn it, self-reward is important but saving for the future is much more important.