Did you know, that being educated is different from being financially educated?

Robert T. Kiyosaki in his book titled "Rich Dad, Poor Dad" said "One of the reasons the rich get richer, and the poor get poorer, and the middle class struggles in debt is that the subject of money is taught at home, not in school. Most of us learn about money from our parents. So what can poor parents tell their child about money. They simply say 'Stay in school and study hard'. The child may graduate with excellent grades, but with a poor person's financial programming and mind-set."

The major reason why many people are poor is because of the mind-set with which they were brought up about money. Parents tell their children to study hard in school and get good grades but they do not teach them how they can be financially educated and independent. Sadly enough, school does not teach about money. School only focus on academic and professional goals. This is exactly the reason why many people graduate with good grades but still struggle financially after graduation.

Do not misunderstand me. Studying hard and getting good grades is not a bad idea. In fact, it is a great achievement that one can ever make in life. However, being academically sound does not amount to being financially capable.

How then does one become financially educated?

Read on, to know more about Financial Literacy, what it means and entails and how you can start making best decisions about money.

What is Financial Literacy?
Financial Literacy means the fundamental piece of knowledge about finances and the basic understanding of how money works. Being a financial literate allows you to make the best decisions about money in relation to Money Saving, Investment, Payment of bills, financial goal settings, retirement plans, etc.

Everyone has different knowledge about how money works. An average person who does not have any responsibility will desire to spend any money they see on material things such as clothes, shoes, phones, etc. A family person with responsibilities will be thinking of how to allocate the little money he has so that it'll be enough. These are the problems faced about money.

Since the school and parents do less in teaching about financial literacy, how then does one learn about it?
The burden of becoming a financial literate lies on oneself. One will be wondering why one has to be the one to teach oneself about money when it is supposed to be taught in school. The reason why a person has to be his own teacher about financial education is that he alone has the capacity to determine his knowledge about financial education. No one, absolutely no one will determine that for someone.

The question now is how does one go about it alone?
All thanks to technology, everything has been made easier. With technology, there is no limit to the amount of knowledge a person can acquire about financial education. What anyone now decide to do with the information acquired is left to such person.

Below are the 4 easy ways to become financially educated by oneself.
1. Read Finance books
The best way to get started on becoming financially educated is to get personal finance books. Having no background whatsoever in financial education, personal finance books are important in getting started. All it takes is time dedication. Certain amount of time must be dedicated to read these books for anyone who wishes to learn how to save money, set financial goals,etc

2. Read online Publications
Another way to become financially educated is by reading online Publications about finance and how money works. There are several blogs and websites where useful information about finance can be found. Some of the websites include Investopedia, Studentloanhero, etc.

3. Sign up for courses on financial literacy
Apart from books and online Publications, one can also sign up for courses that teaches financial literacy. The courses can either be online or physical. Signing up for courses ensures full involvement in finance. This way, one gets to learn effectively about finance. For some courses, you'll be required to pay while some are totally free.

4. Use financial Management tools
This is another easy way to become financially educated. There are available online resources that serves as financial management tools that one can easily find and use. These financial management tools can be used to guide one's savings, create budget and monitor how one manages such budget.

Benefits of being financially educated
There are several benefits attached to being financially educated, some of which include:
1. One gains control over money: This implies that money starts working for anyone financially educated instead of working for money. The result of this is that it builds confidence in oneself.

2. Ability to set financial goals: A financially educated person is able to set certain financial goals for himself.

3. Bill Management: Being financially educated allows one to know how to manage bills and avoid debt.

Now that you know what financial literacy entails and the easy ways in attaining it, I hope you leave the dark and get started on becoming financially educated.

Comments are appreciated.

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