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myecon

It is important that we continue educating ourselves financially.

 What effect does it have in our own life that its important that people choose some time and effort to learn and continue improving its financial education?
myecon
There are actually a great deal of great reasons why getting financial education is important but I will be enumerating five (5) reasons why we will need to have it.

You Are In Charge of Your Financial Well-Being - This I think is the main reasons why folks need financial education. Your own financial well-being rests in your own hands, not your agent's, wealth manager's. Financial advisor's or financial planner's. They may say that they have your best interest in mind, but in the end of the day you are just another customer to them which will give them commission when you buy several financial tools out of them. The risk remains yours, its not their money that they're taking good care of, so why do they need to do a fantastic job making sure it keeps on rising and not drop money in any respect. Not all consultants, planners and agents are like this, but a lot of them are. And its really tough to find someone whom you can trust. So it's still your responsibility to be certain that you're financing are well cared for. So take the opportunity to develop your financial education. This will let you properly assess the guides that you get and see if they fit into your overall aims. Time to take control of your own financial well-being.
There Is No Such Thing As Job Security Anymore - Perhaps you have been laid off or do you know somebody that has been laid off? Not a pleasant experience is not it?   What if you are unexpectedly laid off, would you have sufficient money to support your needs as you find a new job?  Imagine if it took you more than you expected to get a new job? With financial education, however, you will have the ability to determine what to do if you suddenly got laid off. There are different ways to make money than simply getting a job. In reality the stuff which you'll discover as soon as you're financially literate, will make it possible for you to earn more than any job can provide.
Your Business Won't Treat You Once Retire - Gone are the days where you work hard all of your life for a business then they'll care for you once you retire. Now companies have more affordable options for their workers. Robert Kiyosaki predicted it defined contribution program, wherein employers simply match whatever amount their employees put in their retirement plans like 401k in the united states or Social Security System (SSS) here in the Philippines. Some companies offer a lump-sum money for their retiring workers, equivalent to the amount of years working for that company, besides the SSS. These plans and benefits are great, but shouldn't be the only thing workers will rely on for their retirement. Odds are, the amount of money that you saved up using these programs will not be sufficient to cover for all of your needs when you retire. But with appropriate financial education, individuals will have the ability to invest correctly their earnings and be certain that they won't wind up depleting their retirement accounts sooner than they anticipated.
 In summary you work for cash. Do you believe the rich work for money? Probably those people who are greedy, yes. However, what makes them rich anyhow? Money inherited from their loved ones?  Perhaps, but what about those people who are honest? What makes them wealthy? The wealthy has money working for them. They do not only work hard, but they also work smart. They have money working for them so that they continue to make even when they aren't working in any way. They earn when they are on holiday, they earn when they are asleep, heck they even bring in while their in the restroom. It's their money that is doing all of the work. Again this is due to financial intelligence.  Simply speaking, money working for you.
To Be Rich and Wealthy - I am sure most of you dreamed of getting rich and wealthy. But how can you do it?  Well that may work, but it is going to take you longer to get there and many people can't get rich with this method.  Well if your lucky, but this will not also guarantee that you will really wind up rich. Chances are you could just spend all of your money in under a year.   Becoming wealthy and wealthy will need hardwork and dedication from a person, but more than that it requires financial intelligence. It is actually easy to earn money, the difficult part is to be certain that you keep that money. That is why winning the lottery isn't the answer to wealth, because in case you don't know what to do with your money, you will end up spending it all. Same with inheriting cash. Without financial intelligence, you are going to be burned with costs here and there and before you know it you're money will be gone. But if you've got financial intelligence, you can get rich, even when you're deep in debt.  Being financially literate is the secret which makes them who they are now.


 

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