I think I wrote about this before but it’s okay, I’ll talk about it again. Hopefully, it can also remind myself of the importance of financial education.
I’m always an opponent of the notion of “giving away money for free”. It’s fine to hand out money to a financially intelligent person as I am confident that they’ll be able to expand their wealth using that initial capital but I am less confident if it was a person with lack of financial education.
That’s why sometimes I sort of cringe whenever I hear or read about people being given money or luxuries for free, without having to work for it. Like I said earlier, if they are financially intelligent, I’m all for it. However, if they’re not, then I believe eventually, they’ll run out of that money and they’ll come back begging again.
This is also the reason why I believe that financial education is very much important. Reason being, if you are financially educated, you’ll be able to exercise creativity on how to expand your sources. You are no more enslaved by money. Money works for you now.
Remember the saying, give a man a fish, it’ll feed him for a day. Teach a man how to fish, it’ll feed him for a lifetime.
I’ve always believed that if I was financially educated, I will be of less burden to others and perhaps, I’ll now be able to assist others whenever needed.
I also believe that with financial intelligence, people will complain less. No more blaming the rich for their misfortunes, no more blaming the government, and no more blaming the universe.
Disclaimer: This article is not a specific nor general advice on managing or investing your money. This article does not constitute a recommendation nor does it take into account your investment objectives, financial situation nor particular needs.