Financial education is extremely important and is used to provide a better vital life for society, thus inviting it to actively participate in its financial aspects. Therefore, it is essential to obtain a high level of financial education, showing the main thesis of financial education. Do you have any level of financial education?
Its objective is to demonstrate the skills and knowledge necessary for all people, in order to make them understand about the basic concepts of money, as well as recognize the risks in finances, avoiding going through unpleasant situations.
With this, people automaniacally become more capable of managing their financial life, as well as becoming more confident, understanding that the power of their money is completely in their hands. They can manage to manage their capital, using it wisely to achieve all of their stated goals, regardless of what it may be.
The financial field is evolving more and more over time and, with it, financial education is only evolving, being a resource that is reaching an even higher level. Over time, this impact is expected to increase further. Therefore, the lack of knowledge in the area can cause difficulties with your capital, which will affect your entire mental, and even physical, health.
Read this article and understand how essential it is maintain a high level of financial education and understand all the benefits it provides us.
What a high level of financial education gives us
It is a fact that those who have the greatest knowledge of financial education have better attitudes towards their money, having a calmer and more positive financial life. Better financial skills give us better well-being. If you want to understand what financial education really means, know that you have to start in the right way.
Financial education gives us all the knowledge, confidence and skills necessary to make informed and thoughtful decisions with our money. By For this, it is also very important that we take care of our family in this matter, just as we must induce to each one of its members to study the same subject.
José Manuel Gonzales, Executive Director of Economy and Institutional Relations at BBVA, spoke in an interview with La República de Colombia about the great importance of digitization. He also spoke about the great impact on people’s well-being, taking into account the financial sector.
As much as it is not an easy task to acquire a very high level of adequate financial education, this is a fundamental element that we must use to improve our quality of life, as well as the financial part of it. So learn on financial education from an early age will allow us to make the best decisions about our money. So we will make fewer mistakes so that we can make a decision with him.
Level of financial education in Turkey and around the world
As stated above, ideally the financial education is taught from a young age. Young people are one of the biggest targets of any company’s advertising campaigns. So why these segments of the tiveram society increase, as well as their influence on consumption. RYes, financial education is torn or it is essential for that whole segment of financial skills.
Families that share all their experiences and knowledge play an important role in the financial education of young people. Unfortunately, we know that the level of financial education among adults is not the best.
There are programs organized by foundations or governments aimed at increasing the number of financially educated people in the population of Turkey. There is a program of social leadership and finances, called the 5 Stones, which was organized by the Foundation of the Academy of Teachers.
If you’re already studying financial education, or thinking about starting but don’t know how to determine if you already have an adequate level of knowledge, read on.
How can you determine if you have an adequate level of financial knowledge?
First, know that there are several resources that can describe the skills, behaviors, or knowledge of someone who has a sufficient level of financial education. Many of these resources focus on pointing out various common qualities in these individuals’ financial attitudes in order to help them understand their appropriate financial literacy.
Next, I will leave you a list of abilities and skills that can characterize a person who has a good level of financial education. Compare with her knowledge and draw your own conclusions about your financial knowledge.
In general, a person with financial education does the following points or meets the following requirements:
- Set your financial goals, and they do not waste time: they begin to draw up plans to achieve them;
- Save money to face situations that nobody expects to happen;
- Keep all your financial obligations under control, not letting you go into debt if you can’t meet all the terms of your loans;
- Monitor the way you spend, reducing how often or changing the way you spend;
- You can understand concepts like debt, loan and credit card;
- And they are always aware of the services and products offered by banks;
- You are aware of the investment options available at that time;
- You don’t spend more than you earn;
- Regularly save what you have;
- Has organized plans for the future, usually in spreadsheets or notes;
- Understands and knows all the tax regime to which it is subject;
- Use credit cards when you know you can pay the bills, if that’s the case;
- Before buying, ask yourself, in a correct way: is this purchase for me? Do I really need this, or do I just want to alleviate my desire to have this?
- You want to learn more and more about the subject, and you always want to be informed about every time you spend your money;
- You search a lot before you buy something;
- You are aware of all the reasons for your decisions;
- You take the time to study before investing in something.
Based on everything that has been said here about financial education, do you have any idea? Regardless of the answer, it’s better now to search! First, share this article with your friends, so they too can learn about the importance of financial literacy, especially as adults. After that, start your research and studies. It’s never too late to start learning about your financial life. Fight and see you next time!