Topic: The Role of Education in Financial Literacy - page 7. (Read 2074 times)

That is so correct not all people have interest in investing money. They are blessed and lucky to be living contented life - and that is okie if you have no interest in investing - just live a happy and contented life no matter what!

Some people are naturally insensitive to investment and financial management, or have no interest in it. This is entirely up to the actual situation of each individual. A lot of financial knowledge is learned in the briefing sessions held by institutions and banks. At the beginning, everyone was wary of an unfamiliar financial product. However, with the development of WEB3, there are more and more decentralized financial products. At present, there are also many channels for financial education, which makes people more blind. Personally, I buy a small amount of mainstream digital currencies every month to avoid inflation in our country.

eduation does gurantee the job and money. I have seen many uneducated people doing very well in business and earning well. All you need is to be consistant and dont give up. The young kids are also earning well with out any degree and business education background

Business isn't something that shouldn't really be for the sake of fun on which it is really just that a wrong thing to have this kind of approach when it comes to this matter.This isn't something that you could really treat it as a gambling that it should really be for fun. Of course it would really be needing that financial literacy if we are really that engaging into something which is connected to it.

Once a certain person who would be having that educational background on which it would really be just that normal that they would really be having that kind of advantage among other people on which it would really be that a common or significant differences.

Its extremely important to have proper formal education about finance before entering the business world that helps you to develop know how about that world and how to move forward and upward .
To learn new techniques of business and explore innovate ideas is the fun of business world .

It is still not about each and every. We are seeing most exciting examples and extrapolate it on everyone, but it doesn't work so. Some are more successful with what they have, some are less. Getting education just gives you more chances on being successful, but not guarantees that. Sometimes we can choose a wrong profession, which is not suitable for us, sometimes a profession can be or become outdated... Getting a financial education is good but it doesn't make everything by itself.

Things like that really should happen to all children or among creative young people. Because apart from the increasingly modern era, everyone should also develop in learning, thinking and making money so that the living environment in every country has started to look more comfortable because there are many children who have very different levels of creativity from their parents in past. So don't be surprised by this because basically everyone should feel happy when they see their children being able to make money while studying without burdening their own parents.

Because children who can be like this are children who will become more independent in their lives and will very rarely depend on their parents in terms of money. And the government will also be happy if they know that there are many children with smart and creative minds in the country, because these children are the real next generation of the nation in life.

Education's role in financial literacy is it helps individuals to understand the importance of managing their finances effectively. Education equips individuals with the knowledge and skills that are necessary to make financial decisions such as budgeting, saving, investing and also managing their own debts. Individuals can learn also how to create a budget, how to prioritize their expenses and even save for emergency purposes and of course for future goals. Education can help individuals to avoid financial down falls.

While education helps somewhat when it comes to financial literacy, practical experience is what counts.Invest or trade, experience profit and loss, and learn how the crypto market works.

but these days kids are getting education and at the same time they are earning with both the hands.
Kids are very smart these days. And many people who have intellegent mind are also learning so many skills.
This is the modern age and people are finding ways to earn in different ways.

This is why finishing up college or having a degree doesnt guarantee that you would really be having a job after you graduated or you finish it up and this is where things turns out to be a real challenge as an adult or something which is really that independent.Come to have in mind that job offerings or vacancies would really be limited and you arent just the one whose looking for a job which means that competition would really be that high. There are ones who do might lucky on being selected but for sure there are ones who are leaved out on the dust and having no job and ending up on that poverty and this cycle is
something that inevitable but the fact that having education attainment or achievement is something that much better compared to those who had none.

You do have the advantage when it comes to awareness of things on which if ever you do encounter something which you are really that having the knowledge and awareness at least then
you could be able to deal with up and making some adjustments.

I think when it comes to cryprocurrencies, one can get away with it by having a hands on approach to understand  and use them...let's not forget that these came on the scene without a manual of how to use them but people still had success with them especially for early adopters.
Btw for anybody that wants to get technical  with them, of course an education here will be needed as a hands on approach wouldn't be sufficient enough as you need to apply your math, formulas, general  understanding of economics etc.

Agreed,  technology keeps moving at the speed of light while most school curriculums haven't been keeping up with time to catch on with new technologies which are adopted  in our day to day activities. 

Regrettably, a weird incongruence also developed over time between education and a degree. Education is always good and who would I be to say the opposite. But a lot of students or young people are not after the education in the first place, but after the degree. There is a difference as that diluted the quality of education a lot since some universities understood the trend, started charging higher tuition fees but at the same time made it easier to pass the exams.

We often talk about hyperinflation concerning currencies, but there is also hyperinflation in people obtaining degrees. It is not only the people who are to blame, but also the employers and society as a whole. In some countries it is almost worthless to send your application if you are not able to attach a degree to it. It has become so normal and pervasive that employers take it as a given that everyone went through higher education, which is actually a bad trend.

In regards to financial literacy, it depends on what type of education you are talking about. Hands-on experience in my opinion is at least as important as specific education. You can read all the books you want, but as soon as you trade yourself you get a better understanding of market dynamics. An academic career in finance can help you learn fancy formulas, but you can gather most of the required subject matter on the Internet. Reading and understanding financial reports, but also gathering news from reputable economics and finance websites or more basic news outlets and then putting those news into a coherent economic and social context. This is something you can only develop over time by constantly consuming relevant news sources and broadening your horizon.

If you better know how to place your trades in your early 20s than you know in your 40s, you have probably done something wrong - or you have done a lot of things right in your early 20s and are sipping Pina Coladas 24 hours a day on the beach of your own island

Not many investments had the potential to make you so filthy rich with even small investments that you could afford your own island. I am only aware of one investment that had the potential and that was Bitcoin 

The old advice given by the previous generations about going to college and getting a good job may have been true back then, but it is not true now anymore, and if anything it could be a huge financial burden from which many are unable to escape, after all at least on the US a great deal of students attend college thanks to student loans, which means that colleges can offer all kind of useless courses knowing very well that after those students finish their careers they have no chance at all to get the jobs they want.

with schools expanding knowledge then this makes people more careful in financial management. this happens because they have a more distant view so that they can anticipate the bad possibilities that occur if they experience mistakes in financial management. the wrong thing in my opinion is to go to high school in order to have a good job. when in fact if we can develop our own business and manage our own finances, of course we will gain new knowledge from the experience that has been lived

Most schools nowadays only focus on teaching the theory of life so that many are not appropriate, the world is developing very fast, information is always at hand but many lessons in schools are no longer in accordance with current conditions and deserve to be replaced with a better and modern system.

Education helps you realize you can always learn and you can also teach yourself. There are those who did not have formal education but they have been able to excel in whatever skill they are into. This also takes a lot of education. Not only formal education is education. But formal education has a better advantage.
It opens your mind up to a lot of possibilities. There's every possibility that formal education can help improve the financial literacy of a person. I say this because an education can make a person want to know more about his finances, and this can lead him to more education. Financial literacy is not a thing that is thought in schools but an educated person will use the knowledge he has gathered to learn about these stuff.

The people of earlier days had a lot in common, now if we look, there is such a situation that there is no similarity with the family members.  We are going to see a worse situation. We are living in an unspeakable situation.

Learn it, imply it, get experience, then learn again. That's the key for any person to get the best result out of learning. What do I mean by that? Well, it's simple, really. You start by devoting yourself to the subject. Then you take that knowledge and apply it to real-life situations, getting hands-on experience and seeing how it all works in the real world. Then again, you do the same thing from the start to finish. This will significantly increase the learning process. As they say, you never know until you try.
financial platforms require knowledge and experience, and this is the best strategy in my opinion.

It surly does.
Education is not the medel that it will bring in good behaviour among the - there are very educated people fooling the other educated people