Financial Literacy India on Clubhouse

Description

Everything you want to do in life costs something, whether it’s time or money. Financial literacy helps you maximize your money so you can do more of what you love. With the role money plays in our day-to-day lives, financial literacy should be a priority for our schools.

Financial knowledge can change the life of a student. And knowing what financial literacy is and why it’s so important will hopefully cause more parents to request it and more schools to require it. How Does Financial Literacy Help?
Everything has a cost. Financial literacy helps you make the best decisions, based on your personal values. Here are the three areas that financial literacy can help change your life.

Save Money: Knowing about personal finance can save you money on taxes, your mortgage, investing fees, and more.

Make Money: Investing in good mutual funds or index funds and buying a house in an appreciating market can make you money over time. Keeping track of your budget will show you any missed income.

Work Less: When you’re financially stable you can afford to take a pay cut for a job you love, have the power to turn down work when you’re busy, and retire on time or even a little early.

What is Financial Literacy?
Financial literacy isn’t difficult. You don’t have to be an expert to be financially literate. Rather, the principles of financial literacy boil down to knowing how to get, grow, and keep your money.

When you learn and apply basic personal finance concepts, you’ll be prepared to establish financial security and achieve the things you want with your money. Without this knowledge, it’s easy to fall prey to common pitfalls.

Lack of financial literacy is how predatory lenders, credit card scammers, and commissioned financial professionals take advantage of people. Knowing the basics helps you protect yourself and grow your financial safety net.