Financial Literacy – Introduction & Importance

Many people don’t even know that What is Financial Literacy & Why is it important?. Well, Financial Literacy means Knowledge about Money, How it works & How to Manage it. Financial literacy is all about how to make money out of money.

What is not Financial Literacy?

Well Financial Literacy is not some getting Rich Quick or overnight scheme. Financial Literacy is not about finding some hot tips in the stock market. Financial Literacy is not about making money in short ways.

Problems that arises because of the Lack of Financial Literacy -

If you don’t know the basics of the Financial Literacy than one or more of the following Money Problems may arise in your Life.

- Going into Excessive Debt up to your eye balls

- Making Bad Investments

- Running out of Money after the Retirement

- Not having enough money for Child’s Education & Future

- You can’t understand what is going on in the economy around the world.

- You don’t know the basics of various Financial Products & How to use them in your favour

- Live Paychecks to Paychecks

- You Find Investing Risky because you have little to No Knowledge about the various Financial Products.

- You may have to file a Bankruptcy because of the Excessive Debt

- You start believing in Stock Market Hot Tips & Make Bad Investments

- You can’t maintain your basic life style after the retirement because of the small retirement corpus

- And Many More……….!!!!!!!

So the above are the few basic Problems that may arise in your life because of the lack of the Financial Literacy. In fact, right now you may suffer from one or more of the following problems.

Importance of Financial Literacy -

Financial Literacy is the solution of the above problems. Many people think that the solution of all of the above problem is Money So being Rich will solve their all of the above problems. But in reality the solution of all of the above problems is not the Money But the Financial Literacy.

Money has power to make you both rich and poor. Excessive Money is not the solution of the above problems. Excessive Money will only Accentuates the above Financial Problems. The Real Solution of the above problems is the Financial Literacy.

Take the Example of Mike Tyson & Michael Jackson. Both of them were Rich & earned lots of Money in their lives but the Excessive Money has not solved their Financial Problems. But in fact today both of them are in a deep debt and at the verge of the Bankruptcy…….

So Excessive Money has not solved the Financial problems of both of the above famous people. And it won’t solve your problem also. The Excessive Money will only Magnify the above problems in your life.

The real solution of the above problems is Financial Literacy. So Understand the Basics of Financial Literacy & be Financially Free & Secure……….!!!!!!!!!!!!