Often, when people pursue their education, they have romantic dreams of studying some of history’s greatest writers and poets. Yet, when they get into the real world, they are in for a rude awakening as most people don’t care whether you can quote Homer, Shakespeare or Charles Dickens.
They want to know if you’re going to show up on time and whether you’re going to pay your bills. This is why it should be a requirement to study personal finance. It is relevant to our daily lives, and will ensure you understand how to make money while sticking to your budget.
There Are So Many Temptations
Let’s face it, it’s difficult being an adult. Sure, you’re on your own and you can do whatever you want–provided you have enough money. Say, what? Exactly. Money doesn’t grow on trees. Your parents might have said that a time or two.
So, what now? Well, to afford shelter and the basic necessities of life, you must work.
Sometimes, perhaps many times, you’ll have to put off going to a concert in order to keep food in your fridge and the power working. You might even have months where your diet is limited to bread and cheese.
And, online shopping just makes it too easy. You don’t have to get ready or drive anywhere. You don’t have to withdraw cash.
All you do is tap, and in a matter of an hour or a few days, you get exactly what you wanted. But, you have also spent money.
By studying personal finance, you can instead learn how to grow your money so that it works for you. You will also gain an understanding of the importance of delayed gratification.
Manage Your Debt
Many college students graduate with debt. It’s sort of a bitter pill to finally get into the work force, only to realize you have a loan payment every month. This is where studying personal finance can help you make better decisions about debt.
If possible, you should take a personal finance course before college to help you graduate with less debt. The less debt you have, the happier you are.
You Can’t Always Depend on the Government
It would be nice to live off the government, but government debt is skyrocketing too–and, someone will have to pay for it somewhere down the line. As many nations have done, when they are financially unstable, is they limit the use of government services and benefits. If they don’t have money, it doesn’t matter if you paid into the system or not.
Yet, when you are financially literate, you learn how to save and invest your money so that you can live comfortably without having to depend on anyone else.
Lift Yourself Up
We all have to make the same financial decisions. We all have bills to pay, want to own our own homes, travel or something else. Yet, those who are financially literate seem to be better equipped to make the right financial decisions.
If you’re tired of living paycheck to paycheck, it’s time to take a course in personal finance.
The knowledge of how to handle money wisely is not intuitive–it is a learned behavior. So, stop the insanity and get financially literate today.
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