Financial Education and a Life Without Economic Hardships


Financial education is a strategic weapon and protection in this time of great change at all levels and especially in economic matters to make money an ally and a reliable worker to provide comfort and tranquility.

Although this we has been said before in a desire of many, have enough financial education to make money a strategic weapon to live a life without economic hardships, in practice very few do it or they get  it along life. And so it is regrettable to see how many people waste their money little or a lot and get to the elderly without enough money to live for at least the commodity basket and almost without health, time and mental faculties to fend for themselves.

The statistic on the economic performance of those between twenty-five and sixty-five years is not at all encouraging: from a hundred people men and women who start working at twenty-five and reach the age of sixty five we have than:

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. One is rich.
. Four have economic independence.
. Five are still working to pay their basic expenses.
. Thirty-six people depend on aid to survive economically: sons, family, etc.
. Fifty four are in difficult economic situations, living on charity and cannot afford basic health services.

With this result so regrettable one wonders why after studying and working a lifetime the great majority of people end up living so badly?

And the answer has two specific parts:

1. Lack of financial education

Which is what provides the necessary knowledge in finance practices to know how to manage money and create financial assets that are producing consistent money and avoid liabilities that are those that instead of making money are just wasting it.

2. Financial intelligence

That is what is developed through the practice of Financial Education and creates healthy habits to manage and invest money and controls emotions to avoid excesses and wasteful spending habits and bad debts.

Also exist defined people’s attitudes toward money and financial security that produce large fortunes and lives away from economic problems and others produce bankruptcies, failures and miserable and unhappy lives.

And this has to do with the proper use of key elements of human life which are natural assets or own riches that have a duration in time but decrease with age and finish.

They are: health, time, youth and intelligence. And the behaviors that individuals have with regard to the handling of money and economic security have to do with these natural wealth that cannot be bought.

Let us see the categories:

Wasteful time people, health, youth and intelligence

That are those who do not measure the consequences of their actions and trying to live the experience pleasure today to the fullest and are not interested in the future, or care about it. Therefore they wasted all the money in: vices, gambling, commodities, food, parties, etc.

Also these people have a low level of financial intelligence because they dislike their reason master their emotions and see financial education and general education as a heavy burden that prevents them from living wide open.

These people are those who usually receive a severe bill from life and pay their bad habits and actions with much poverty, accelerated or terminal illness, premature death and scorn or familiar and social withdrawal.

Those little wasteful of time, health, youth and intelligence

Which usually they have a comfortable financial position because they have a fixed income and aspire to a pension but who are not interested in keeping economic growth but a social accepted average.

In this category are the majority of people in society who study several or all levels of education: elementary, high school and college and usually use for a company and a buid a medium or high income but maintain many large debts produced by: credit cards, mortgages, car purchase, parenting, home improvement, etc.

This does not allow them to build an economic looseness but to maintain a style of medium or high life but pressed by the economic obligations.

Overall this group of people use the time, have healthy habits, cultivate their mind at least it what has to do with their profession, they are in good health but many are neglected in the diets and physical activity and some have or develop diseases for these or other causes that decreases their life´s hope slowly or rapidly.

People who optimize their time, health, youth and intelligence

This group is the minimum number of people in the world specially because these individuals have clear that the time, the health, the youth and the intelligence are given goods that are temporary and not eternal and that in agreement to their bad or good use it will be the quota that they will have to pay for them in a nearby or distant future.

These people have very high regard and esteem Financial Education and in general any practical education that allows them to improve their economic production, performance, health, and welfare intelligence and invest money and time in it constantly.

Some have full professional education, others do not and others have very little formal education. But all they build or have built large businesses and legacy great contributions to society. Some examples are: Steve Jobs, Bill Gates, Warren Buffet, Michael Dell, Sam Walton, Carlos Slim, Thomas Watson, Michael Dell, Larry Page, Mark Zuckerberg, etc.

This group values as we have said time, health, youth and intelligence and they know that without those goods which are not negotiable is useless to have money.

In this group we find great entrepreneurs and businessmen who care about maintaining a balanced life with good habits, they are not friends of wasting time, have self-discipline to constantly educate themselves because they know the value of a brain trained for this and economically future and they specialize in building financial assets and maintain a low level of consumer debt level (bad debt) and that their debts of the business creation are pay by others (good debt).

There is also a fourth group that is considered apart from the above that especially has to do with money management are taken to the extreme and are stingy and avaricious people who do not multiply their money by leveraging investments, but keep it and treasure and deprive themselves economically to have a comfortable life and their money are enjoyed by others as banks or others when they die like their heirs.

One of the most difficult challenges in managing money whether be much or little is to have an order of priorities clear and not to turn aside of them for the emotions of the moment that does that many spend with abandon and end very rapidly what they have since it happens with those that they win in the lotteries and gambling.

In summary financial education is a necessary investment for a peaceful life and economic future under control. This does not mean that the entire world becomes a millionaire but everyone has the opportunity to live a life without economic pressures and all the negative situations that are generated by not knowing how to produce and manage money correctly.

The following are some tips to apply the power of financial education in your life:

  • First appreciate your natural resources and not waste it: time, health, youth and intelligence. If you waste these natural assets the bill life will charge you will be priceless.
  • Many people unfortunately live a real hell in their lives because they wasted these natural assets and know it is no longer possible to turn back.
  • Assume your financial education as a personal responsibility and invest and apply to all the resources that offers practical education: auto downloadable courses, books and investment seminars.
  • Control your bad debt, do not use credit cards to the top to only buy consumer goods or make cash advances. Remember that this causes the highest possible interest of all banks.
  • If you’re a professional remember that your financial situation needs proven practical and theoretical knowledge in Financial Education and not for the fact of having a degree in medicine, law, engineering, design, architecture, etc., it means that with this knowledge you can manage or know how to handle well your money.
  • If you are employee not only bet your financial future to a pension and seeking other revenue options. This is because the retirement age increases more and more for people in different countries and it is likely that fewer people can retire. And moreover because the pension liability is too big for the global financial system, which can lead to a collapse of economies at any time and thus lost money contributions.
  • Financial Education must develop in you the financial intelligence that allows you to establish priorities in your expenses and to learn to traverse calculated risks for the creation of financial assets. It is not a question of studying the whole series of technical knowledge in finance, economy and administration that they sound well in the theory but that in the practice you never use.
  • The control of the emotions is fundamental to administer the money little or much and it is true that if you administer badly little you will never manage well a major quantity.
  • Financial Education and Financial Intelligence together will help you to govern emotions and avoid waste and acts of buying or compulsive debt and that keep so many people in the economic crash.
  • Focus on multiply your sources of income and to learn it and start creating financial assets: business and investment opportunities of low investment and high return offered today as Network Marketing or Marketing Virtual Networks.
  • Know and familiarize yourself with the financial basic instruments that any company handles: general balance sheet,  P & L , instruments of leverage, indicators of profitability, projections, etc., and apply in minor scale these to organize your present and economic future.

For best results in practice and expand the concepts seen in this article on “Financial Education and a Life Without Economic Hardships”, know and use our:

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