Financial literacy is very important. Many people don’t know what exactly the financial literacy is?
Well… financial literacy is literacy about your personal finance.
Financial literacy is the key to your financial freedom.
Many people think that they are highly salaried and earned a lot of income so they don’t need financial literacy. This is a false belief.

Please try to understand the fact that to earn money and to manage money both are entirely different things.
If u r a doctor, MBA, software engineer, CA or lawyer and earning a heavy duty money than u need to learn financial literacy.

You also need to understand the importance of financial literacy.
Just think that how long will u dependent on your friends, brokers and wealth managers for the decisions of your personal finance?.

Financial literacy is basic and very important thing for anyone who want to be rich or super rich.
Afterall it is the financial decision which will make u rich.

Financial literacy doen’t mean that u should learn to analyse stock market’s comlicated derivative products or currency market betting strategies.
Financial literacy is important for everyone either rich or poor. Middleclass or super rich. Its also for those who have inherited millions and billions of dollars but want to maintain them.

Financial literacy is all about controling and managing your expenses, to learn the diffrence between assets and liabilities and taking important financial decisions.

Let me give u the example of Mike tyson (a famous boxer) and Michael Jackson (a famous pop singer) , both of them r number 1 and world famous in their field. Both of them have earned
hundreds of millions. But what is their financial position today?... well both of them r totally bankrupt today…. Have u ever think that y they r bankrupt?....

The reason is that lack of financial literacy have made them bankrupt. If both of them were financial literate than they might b billionairres today.

Financial literacy is for every age group. For school children to college children and for doctors to firemen.

Do u know that statastics shows that 70 % of bankrupties in United States r filed by people less than 25 years of age and 80% have given one reason for their bankruptcy…- Credit Cards….!!!

If children learn the basic principles of financial literacy when they r in school than the chances of developing bad expensive habits when they r in college and in their professional life r very rare.

Plus if they learn to manage money before they earn the money than it will b very better for them.
Do u know that from where the children develop bad expensive habits?... well u might b thinking that from their school friends… but its not true…. They learn these bad expensive habits from their parents. Yeh u believe it or not but this is true,
Children develop bad expensive habits from their parents like expensive shopping, credit cards ,,,,etc….
So when they become adult these expensive habits become a part of their life.

Unfortunately there is one another false beilef that people have. When people earn a lot or suddenly their payscale rises they think that now their financial IQ is also increased and now they r more smart than before because now they earn more money than before. But unfortunately this is not true. The fact is that your financial IQ remains the same irrespective of your income. So now they start taking their financial decisions without analysis and without having proper guidance of professional money managers and they lose money…..

So financial literacy is very very important for not only children but also for their parents and everyone who is rich or going to b rich……