Topic: The Role of Education in Financial Literacy - page 4. (Read 2074 times)

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.

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.

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.

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.

Absolutely, I couldn't agree more. Key life skills are often overlooked in schools. Investment, market dynamics, business plans, equipment repair, taxes—essentials, right? The regular curriculum generally ignores them. For what reason? Why not prioritize these topics?

Recently, bitcoin and other cryptocurrencies have become important. However, how many schools teach bitcoin? Not many, I think. A bit ironic, huh? Students are being prepared for a future when digital currencies rule, but they're not being taught how to navigate this new economy

Yes, people can learn these things after school, but wouldn't it be better to start early? As they say, forewarned is forearmed. In our fast-changing world, a heads-up can make all the difference. Why aren't we better preparing our students?

There alot of information and skills that the school does not teach well we can't do that because there are a lot of heads make their own curriculum but for me it's ideal if they make a revise on it, or else the student will just focus on this and not think outside the world or the reality, the school does not teach about investment, market, businesses (few only opens it), repair of equipment, taxes and etc. those are the basic ones but over all you will learn those after you will once you are after your school on the reality, well we don't need to pressure everything because people have a lot of time that could be use to learn this things up but its good if there's a chance they give a heads up so people will not become ignorant with these things.

Financial literacy is a highly undeniable topic nowadays. The relevance of financial literacy was not much back then, but nowadays the economy is growing faster and is going through new financial paths. To adapt to the changes in the economy, we need education, which helps us become familiar with the new opportunities and how to use them in a better way. This helps people to think about their choices, and finally they can make the best choice financially. This exposure is the first step to changing their lives and those of their loved ones. In education, financial literacy should be a compulsory subject to take, and it should start at the school level. Every country's government should take initiative on this matter.
 

Financial literacy? Well, how about common sense? Degree owners in my country still fall victim to loan sharks and Ponzi schemes, why isn't their financial literacy sounding a red flag bell in their ears? That's why some old illiterates are way smarter than today's educated people, because it's not always about education, and most times it's just common sense.

I am not in support that education isn't playing a major role here but the majority of educated people are the ones who are blindly doing shits in my country, some things that uneducated people should be a victim of, it's a big shame.

There is a vital point why some world billionaires ditched education and degrees, and it's not that hard to understand why, so many things that don't make sense in school, shits that you aren't going to use in the real world, and also practical is way better than theory.

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.

I agree with your words.  Education makes people better.  Education improves human knowledge.  The more educated a person is, the better he can explore any subject, the better he can analyze data.  People's understanding of bitcoin will be better by being educated about economics.  The age is now modern we all should keep pace with the age.  People who are educated about economics will definitely perform very well in bitcoin forum.  And his performance will be better than that of an ignorant person.  But we cannot deny that no one can prosper without being educated about economics, certainly has.

It was Benjamin Franklin who said “If you fail to plan, you plan to fail.” What he meant was that basically success doesn't happen by accident. It takes planning, knowing where you are heading and how you will get there. If you fail to do this you may stumble upon a win here or there, but the ultimate success won't be in that stumble.

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

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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.

If it comes to other education system you mentioned,  like engineering,  agriculture,  accounting etc,  Are you sure about these people after doing and getting these skills will not do any loss in their own field? If I can say about my country,  there are some people who are engineers and they didn't have a job even they have their engineering degree's,  I have seen some people there spending 5-10 years in a specific field and doing their studies in a specific field but after completing their studies they are still jobless. Wouldn't you think, trading is something better than these? I'm not saying trading will give you 100% success but it is still better than studying for that much years and still jobless,  especially in our country.

I hope you will get the point I wanted to explain,  also education plays an important role in all these aspects.

My answer is quite simple, if he is someone who is educated and talented then he will never do something like that, because someone who is educated will always think and consider everything about the things he does and the things he will do in the future both in the short and long term. except, perhaps he is someone who is snobbish and used to living a luxurious life (hedonism) where he wants to always look cool and financially capable, which he does for the sake of respect and recognition from other people that he is someone who is rich and capable. And when someone is in this phase, they no longer think that living with high prestige is a desire, but they think that this is a necessity so that other people can continue to respect them. And of course, if this continues then this will be a boomerang that will be detrimental to him and his future.

Most people are lose in trading, I'd say it's better for people to learn about hard skill e.g. engineering, agriculture, accounting, etc than trading because not everyone are successful by learn trading.

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.

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?