Masterpiece ⚡️ on Nostr: It’s mind boggling that one of the most important aspects of livelihood is the ...
It’s mind boggling that one of the most important aspects of livelihood is the least taught subject in schools. An aspect of life that makes or mars any human in any society. A cornerstone that is so crucial that it determines what is a good or a bad outcome at the end of the day. For the sake of SI unit, let’s call it the yardstick of success.
What am I beating about the bush for?
Yes, beating about the bush for the great fountain from whom all good and bad things come, both necessities and luxuries, Finance.
How important is financial education? How vital?
Well, if cash rules everything around you, then learning about if should be part and parcel of basic education. Yet, our school curriculum was designed to painstakingly neglect or totally avoid this subject. Probably, schools don’t go deep trying to educate children in secondary schools or high schools on finances so that they don’t lose their future clients in the university. For if you figure out how finances work, tertiary education may become more than quartenary. Maybe, financial education in schools will ruin it for the elites and the bourgeoisie; upper class remains upper as long as there are people lower.
It’s also unfortunately possible that the teachers and lecturers have little or nothing to teach about finances because you can’t give what you don’t have. Financial education maybe clearly beyond their scope. Hard to teach wealth building when you’re average. And your science teacher can’t leave organic chemistry to teach you finances.
We teach our children morality, religion, cultures, languages but not much about finances, a very important aspect of life. I think it’s very important for parents to sit down with their children/wards while checking their bank account statement, and use the opportunity to show them what money was spent on or shouldn’t have been spent on, and the strategies that were used to save money. Take time to teach them the art of saving money, acquiring wealth, and the rule of thumb of wealth building, ‘Keep the money coming and never leaving ‘. Wealth building is a game of accumulation, a marathon not a sprint. By teaching them, you’re also teaching yourself. Introduce them to books on financial management early, they will help them more than novels.
Wealthy people spend time drilling their children on indispensable safe financial practices. They know one inordinate mistake can ruin the fortune of an empire. The rich keep getting richer with their children maintaining continuity because they were taught the secret of money management and wealth building. The rich also spend money hiring the best financial experts because they know that information is money.
I spent all my life learning everything from languages to mathematics to sciences, travelling from one continent to the other, becoming a medical doctor, an assistant clinical professor, yet with zero knowledge on finances.
How do you call yourself learned when you’re an illiterate on the most critical aspect that rules everything around you. That’s why we see the people we call illiterates or dropouts become rich while the educated still struggle financially. A major problem is that you may be educated, and think you know about finances because maybe, you know the theories, without knowing you’re a stack financial illiterate.
One thing about financial education is that if you don’t have it, you’ll pay for it the hard way. I don’t know whether there is a way harder than poverty. If you make mistakes in other aspects of life, you may be spared, but with finances, you will pay dearly for your mistakes. You will fall prey to all forms of investment scams, from pyramid schemes, M&M, betting/gambling to other get-rich-quick schemes. You’ll throw money at every investment vehicle that comes your way, and lose your hard earned means of livelihood. You’ll always be the fish that get swallowed in the deep sea.
It took me three decades to figure out that you can not make people rich by giving them money. The secret behind the success of the apprenticeship system (igba boy) that the Igbos practice is not in the money that the apprentice is settled with. Nope! It’s in the intricate meticulous day-to-day money management lessons they learn from their bosses on how to handle money, how to know good business, and how to tackle problems with foolproof solutions .
You can’t be rich without financial literacy. In the abscence of financial literacy, your only chance to being rich is by chance. Financial literacy separates emotions and biases from sound financial judgement. It is the rope down the drain that you can grab to climb your way out of the bottom of the food chain. Financial education will save you, your children and generations from going from church to shrine looking for miracles and breakthroughs. Take out time to give your children sound financial education from their primary /junior school; you’ll be saving them a ton.
Finally, building generational wealth starts with financial education. That education should start at home and must be intentional, precise and thorough; from learning how to keep money coming and never leaving , knowing the differences between an asset and a liability to knowing the differences between a good and a bad investment. Financial literacy is the easiest and surest path to financial freedom.
I learned my lessons the hard way , but school just started.
We live and we learn .
#life
#financialfreedom
#financialliteracy
#wealthbuilding
Peace
Udo
What am I beating about the bush for?
Yes, beating about the bush for the great fountain from whom all good and bad things come, both necessities and luxuries, Finance.
How important is financial education? How vital?
Well, if cash rules everything around you, then learning about if should be part and parcel of basic education. Yet, our school curriculum was designed to painstakingly neglect or totally avoid this subject. Probably, schools don’t go deep trying to educate children in secondary schools or high schools on finances so that they don’t lose their future clients in the university. For if you figure out how finances work, tertiary education may become more than quartenary. Maybe, financial education in schools will ruin it for the elites and the bourgeoisie; upper class remains upper as long as there are people lower.
It’s also unfortunately possible that the teachers and lecturers have little or nothing to teach about finances because you can’t give what you don’t have. Financial education maybe clearly beyond their scope. Hard to teach wealth building when you’re average. And your science teacher can’t leave organic chemistry to teach you finances.
We teach our children morality, religion, cultures, languages but not much about finances, a very important aspect of life. I think it’s very important for parents to sit down with their children/wards while checking their bank account statement, and use the opportunity to show them what money was spent on or shouldn’t have been spent on, and the strategies that were used to save money. Take time to teach them the art of saving money, acquiring wealth, and the rule of thumb of wealth building, ‘Keep the money coming and never leaving ‘. Wealth building is a game of accumulation, a marathon not a sprint. By teaching them, you’re also teaching yourself. Introduce them to books on financial management early, they will help them more than novels.
Wealthy people spend time drilling their children on indispensable safe financial practices. They know one inordinate mistake can ruin the fortune of an empire. The rich keep getting richer with their children maintaining continuity because they were taught the secret of money management and wealth building. The rich also spend money hiring the best financial experts because they know that information is money.
I spent all my life learning everything from languages to mathematics to sciences, travelling from one continent to the other, becoming a medical doctor, an assistant clinical professor, yet with zero knowledge on finances.
How do you call yourself learned when you’re an illiterate on the most critical aspect that rules everything around you. That’s why we see the people we call illiterates or dropouts become rich while the educated still struggle financially. A major problem is that you may be educated, and think you know about finances because maybe, you know the theories, without knowing you’re a stack financial illiterate.
One thing about financial education is that if you don’t have it, you’ll pay for it the hard way. I don’t know whether there is a way harder than poverty. If you make mistakes in other aspects of life, you may be spared, but with finances, you will pay dearly for your mistakes. You will fall prey to all forms of investment scams, from pyramid schemes, M&M, betting/gambling to other get-rich-quick schemes. You’ll throw money at every investment vehicle that comes your way, and lose your hard earned means of livelihood. You’ll always be the fish that get swallowed in the deep sea.
It took me three decades to figure out that you can not make people rich by giving them money. The secret behind the success of the apprenticeship system (igba boy) that the Igbos practice is not in the money that the apprentice is settled with. Nope! It’s in the intricate meticulous day-to-day money management lessons they learn from their bosses on how to handle money, how to know good business, and how to tackle problems with foolproof solutions .
You can’t be rich without financial literacy. In the abscence of financial literacy, your only chance to being rich is by chance. Financial literacy separates emotions and biases from sound financial judgement. It is the rope down the drain that you can grab to climb your way out of the bottom of the food chain. Financial education will save you, your children and generations from going from church to shrine looking for miracles and breakthroughs. Take out time to give your children sound financial education from their primary /junior school; you’ll be saving them a ton.
Finally, building generational wealth starts with financial education. That education should start at home and must be intentional, precise and thorough; from learning how to keep money coming and never leaving , knowing the differences between an asset and a liability to knowing the differences between a good and a bad investment. Financial literacy is the easiest and surest path to financial freedom.
I learned my lessons the hard way , but school just started.
We live and we learn .
#life
#financialfreedom
#financialliteracy
#wealthbuilding
Peace
Udo