Concentrate on Financial education rather than Wealth.

[Olotu20]

Financial illiteracy is the process were an individual lacks the ability to take the right financial decisions and steps in making sure that one is liberated from financial lack and stagnancy. Financial education should be a very important aspect of every individual if anyone is interested in becoming financially buoyant and independent.

People now a days are more concerned about making money rather than first of all equipping themselves with the needed  financial management and education because everything boils down to financial education in the process of building wealth.its a common belief that no matter how good a fellow is he or she can't outgrow his level of financial literacy.One can't be talking about building an Empire without the needed financial skills and equipments.

Those who has been able to build Empires in every field of endeavors are actually people who has enlightened themselves enough to manage their finances. Anyone who wants to make a change in this current economy that, we found ourselves should as a matter of importance embabeb financial literacy. As taking the right financial decisions and steps in liberating one from their current financial status.Investment is one good way that an individual can move away from financial stagnancy.

Investing in critical assets like Bitcoin is one good way through which an individual can liberate their self from from poverty.having the necessary  financial skills is what defines an individual, so investing in your  yourself by buying of books, Attending of work shopes and seminar making of Researching etc are all financial literacy means which anyone can use in escaping poverty.

[shinratensei_]

Both making money and financial literacy is important. You easily lose your money without financial literacy but you ain't investing anything without making money.
From my experience though, starts making big money from e.g your salary and you'll start to find a way to take advantage of your money better.

[Zlantann]

Investing in critical assets like Bitcoin is one good way through which an individual can liberate their self from from poverty.having the necessary  financial skills is what defines an individual, so investing in your  yourself by buying of books, Attending of work shopes and seminar making of Researching etc are all financial literacy means which anyone can use in escaping poverty.

Many people make good money, but only a few would be able to sustain that wealth for a long time. There are instances of people who inherited great wealth or won a jackpot who lost all and became paupers because of financial illiteracy.  Some might be caused by failed investment or other genuine reasons, but many lost all due to the inability to effectively and efficiently manage financial resources. The case of rich sportsmen who earned much but suddenly went broke soon after retirement is an example.  They live in luxury, buying luxury items that don't appreciate in value. Cars, fancy clothing, expensive devices, etc, are liabilities because their value easily goes down.

Bitcoin has proved over the years to be a profitable asset. Those who buy at a cheap price and hold for a long time will definitely make a profit.  I will boldly recommend Bitcoin to any rich folk who want to remain financially stable. But I am also a supporter of income diversification. Investors should learn to spread their money to different sectors. This would help to spread risks and reduce losses in adverse situations.

The internet is filled with quality information that you might not need to attend seminars or other programs to acquire needed financial education. We should not underestimate the power of our brain and mind. Many people don't think critically. They world have become so noisy that only a few take the time to reason and come up with solutions to problems. They want to rely on social media financial experts who might not have the required skills to educate people.  Some of them claim they are successful, but they still ask for financial support or registration fees before you can have access to their teachings. Some of the solutions to our financial problems can be handled with common sense.

[Fortify]

I would definitely agree that most people only skim the very surface of financial education but being informed, understanding how companies work and the detail behind banking related instruments is vitally important. To give an example, your pension - if you are paying very high fees on it or invested in the wrong place, you might be earning 5% per year which compounds, with a little bit of research and action, you might be able to still stay at a similar risk level but earn 7-8% per year. That difference of even a couple percentage points could mean the difference of tens of thousands, maybe even hundreds of thousands, by the time you reach retirement.

[rat03gopoh]

It's also important to educate and guide your partner in proper literacy, especially regarding how "too good to be true" schemes work, which have recently become more than just luring the poor. If a couple lacks balanced financial literacy, they have only one choice: distrust even a small portion of the wealth, or it will all end badly.

A few hours ago, I saw a TikTok case of several businessmen's wives from elite neighborhoods being duped into pyramid schemes by their own neighbors, disguised as offshore investments, resulting in millions of dollars in losses. I imagined how those women were "beaten" by their husbands.

[Bluedrem]

A person having a lot of money does not mean that he is wealthy. For a person to be financially independent and wealthy, his money must be used in a planned manner. I have seen people who earn a small amount but do not have to face any financial crisis due to their proper financial management. Because they have determined in advance how much money they will spend on which sector. In that case, they keep some money separately for some unexpected expenses which they can use for their urgent needs.
Again, there are many people who earn a lot of money but due to their lack of proper financial management, they have to face financial crisis at different times.
Honestly, for a person to eliminate poverty, the proper management of the money he earns is more important than earning a lot of money.

[Accardo]

None of it matters so much in life we should concentrate more on what led us to this trap. Why is everyone all on the same page, is it all is of this earth? The chase is becoming too dry and unending, people risk time of quality rest to qualify for the expectations of the society. In a nutshell focus on what you can control, reading financial education should be on a hobby base than having to think that it'll lead to a bouyant wealth. It's a total waste of thoughts.

[KiaKia]

Both making money and financial literacy is important. You easily lose your money without financial literacy but you ain't investing anything without making money.
From my experience though, starts making big money from e.g your salary and you'll start to find a way to take advantage of your money better.

Good advice, there is no other method that will bring a peaceful mind than this, income creates room for risk tolerance and it open new doors for possible success in life, one will able to invest in risk assets.

It is just a shame that many people have done this and it still doesn't work out in end, this life is full of mysteries, we humans want the best for us but heaven is the one to reject or accept the prayer or dream.

Well it is better than doing nothing, if the heart still beats then there is hope, not trying at all is where regrets will come from, trying is  winning.

[Gozie51]

I agree with financial education to be very important and the first thing because it is the one that attracts wealth and to sustain wealth you need the knowledge to do that. Some people stumble into riches overnight maybe by a divine connection due to their positioning theirselves but they easily lose that wealth even as faster than they got it and they return to struggle. Some wealthy people when they die, their children are not able to sustain the wealth and grow it because they lack financial education. To learn how to nurture wealth is very important and that is not only about investment in physical things but to invest in human. Investment in human development I hear is the greatest investment because when you may be falling, you get support from people that you have invested in.

[robelneo]

...having the necessary  financial skills is what defines an individual, so investing in your  yourself by buying of books, Attending of work shopes and seminar making of Researching etc are all financial literacy means which anyone can use in escaping poverty.

The reason why we have colleges and universities, and why the government compels their youth to go to school and educate themselves, the youth is the hope of a nation, and by building a country of financial literate the country is in good hands, so it not about a personal quest to escape poverty, but its your obligation to your country to be a financial literate person so you canhelp your country build business that can benefit your country.
Education is everything; it defines the individual and the nation, so we should make it our life goal to be educated, not only to escape poverty but also to contribute to our country's growth.

[DaNNy001]

That's why it's said that poverty isn't really just the lack of absence of money it is a state of mind and if you don't develop your mind to understand how to multiply the resources you have it doesn't matter how much comes into your possession you are going to end up being broke...I have met people that built something profitable for themselves with the little they had and also there are people that had millions in the past but they are currently struggling. Financial literacy and management is important to learn.

[tsaroz]

You don't necessarily need to buy books or take seminars to be financially literate. IMO, the desire to be better itself is path which would lead you to financial literacy and success. If a person is okay with his comfort zone and his income and don't want to take any risk, though itself is a financial decision but not a good one. People should look to improve their finance, automate their task and be better on whatever you are doing. Look at your competitors, your peers, see what they are doing better than yourself, learn from them, learn your weakness and advantages, correct your mistakes, leverage your skills and try to be better each day. Financial literacy, management of funds and risks, diversification, these all would come along as you desire and work to be the best.

[rachael9385]

It's not always about having money but knowing how keep it is the main thing and this has a lot to do with expanding or multiplying your source of income. People fight to get rich but don't have rhe knowledge to stay rich. While you are focused and working hard to get money it's also important to learn financial education so when you finally make the money you want you won't end up making financial mistakes.

[eightdots]

Both making money and financial literacy is important. You easily lose your money without financial literacy but you ain't investing anything without making money.
From my experience though, starts making big money from e.g your salary and you'll start to find a way to take advantage of your money better.

One of the benefits of financial literacy is that it helps us learn how to use the money we earn effectively. One of the things you need to do after earning money is to ensure its value is preserved. Financial literacy can help you understand how to manage your money and expenses.

Investing requires earning money. Knowing how to manage your money after earning it is as important as earning it. Starting to earn a lot of money brings with it the responsibility of knowing how to use it effectively. This responsibility always benefits people.

[Alone055]

It's also important to educate and guide your partner in proper literacy, especially regarding how "too good to be true" schemes work, which have recently become more than just luring the poor. If a couple lacks balanced financial literacy, they have only one choice: distrust even a small portion of the wealth, or it will all end badly.

A few hours ago, I saw a TikTok case of several businessmen's wives from elite neighborhoods being duped into pyramid schemes by their own neighbors, disguised as offshore investments, resulting in millions of dollars in losses. I imagined how those women were "beaten" by their husbands.

Does that actually fall under financial literacy? I'm a bit confused, but I think this falls under general literacy because financial literacy means that you learn how you are going to use or spend the money you have, but you can still get fooled by such things because the scammers are pretty good at convincing people and making them believe that what they are proposing is actually something very good. So if someone falls into such a trap, they basically lack general sense and understanding about such things.

Women are generally more vulnerable in such matters, mostly because they are usually less literate about technological stuff and if someone pitches something related to digital investments and stuff, they won't easily know whether it's something good or just a fake scheme, and they easily trust the person pitching them that thing.

[Findingnemo]

People who build their wealth must also be aware of the finances, may not be technically strong with terms but their got experience of what to do when things are going wrong and that is how they became rich. But people who inherited wealth will be different and they should also inherit the knowledge from the one but most often it doesn't happen that is why we see rich dad's kid end up being irresponsible and completely wrecking the assets and everything.

[Stablexcoin]

Those who has been able to build Empires in every field of endeavors are actually people who has enlightened themselves enough to manage their finances. Anyone who wants to make a change in this current economy that, we found ourselves should as a matter of importance embabeb financial literacy. As taking the right financial decisions and steps in liberating one from their current financial status.Investment is one good way that an individual can move away from financial stagnancy.

There are common knowledge that should be common sense, everything is not about researches or being taught what to do or how to handle finance. Financial illiteracy is the reason why many people who earn high or win jackpots are unable to remain resourceful after some years pass by. No amount of money is huge enough not to finish, instead of making plans on how to spend, instead plans should be made on how to grow wealth.

Some people do have ideas on how to become resourceful but they lack capital, anybody who have a good income to invest in bitcoin or any asset should take it serious, sometimes learning from someone life lesson is the best.

[Distinctin]

Prioritize building your financial literacy first prior to accumulating wealth. If you have established your knowledge about financial management and on how to easily grow your wealth without dealing so much risk, then it will be easier for you to make the right decisions towards maximizing your wealth accumulation.

Having a stable source of income is a must. That will pave way for you to save and eventually invest, and build your wealth through investing and reinvesting with the highly potential coin which is bitcoin, and invest as well into other physical assets like real estate, stocks and gold.

[Mate2237]

Snip

One of the benefits of financial literacy is that it helps us learn how to use the money we earn effectively. One of the things you need to do after earning money is to ensure its value is preserved. Financial literacy can help you understand how to manage your money and expenses.

Investing requires earning money. Knowing how to manage your money after earning it is as important as earning it. Starting to earn a lot of money brings with it the responsibility of knowing how to use it effectively. This responsibility always benefits people.

True financial Literacy helps an individual to manage resources effectively in such a way that no matter small or big the money is , one can be able to be accountable with what the money is used for. accountability is one thing that financial literacy helps, because a Man that has been schooled about financial management will be more accountable with money compared to someone who has not been schooled about financial management.


Financial literacy to me is one thing that should be introduced into schools from primary to higher institutions of learning because financial management is not something that is even thought in schools that is why we are even seeing people who are educated but when it comes to financial management they are no wre to be found.

[osasshem]

Financial literacy starts from knowing what to do to get money, how to make use of the little money at hand and how it can yield more as time goes on. Before going to seminars and financial literacy programs, there should already be a basic means of one generating income. This is because, participating in a financial literacy program without having a source of finance is almost doing something without a starting point. Therefore, getting a job and earning salary gives a starting point on how to exhibit the knowledge gained from the financial programs attended.

Investing in Bitcoin is a simple thing, but very difficult for salary earners to do. School Graduates are other sets of people who don't see possibilities with Bitcoin, but settling with the native financial system that they were groomed on, to obey and follow principles, rules and regulations that has been set before existence.