What is Financial Literacy? Why Financial Education is important? Ep # 4/9
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- čas přidán 25. 08. 2024
- What is financial literacy? Or what does financial literacy mean?
Why is financial literacy important and how to become financially literate?
Mr. Smart will answer all these questions one by one. Firstly, let us define financial literacy.
Financial literacy is the ability to take SMART FINANCIAL DECISIONS which results in DESIRED FINANCIAL OUTCOMES. It is not about knowing the stats and complex financial concepts. Basic financial literacy is simply the ability to make the right financial decisions in personal finance. It is quite possible that a college dropout is more financially literate and successful than a Ph.D. or an MBA.
In fact, educational institutions focus only on scholastic and professional training. They do not teach what is financial education. These institutions do not fully honor the importance of financial education. That is the reason why so many brilliant physicians, engineers, accountants, lawyers, artists, and civil servants struggle in their financial life. They know how to earn money but they really don’t know how to manage money well. So, teaching financial literacy is entirely left to parents. Or the cold, practical world teaches the basic lessons of money in a hard way.
Why not to start educating yourself about money matters and learn these skills in a soft way. Otherwise, the rich will continue to get richer and the poor poorer. Watch the video to know more.
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If you are an adult. You shouldn't need any lecturing on how to be sensible with your money. It's common sense. Some professional advice from a financial adviser can be helpful as well but at the end of the day it's not rocket science knowing the difference between needing something and wanting something.
@@olawaleesan4672 You make a good point! Financial literacy is essential, and common sense plays a crucial role in managing money wisely.
Yes, we would love to have a complete series on financial literacy.
Thank you for feedback. They're will be a complete series about financial literacy for you.
Excellent! I've been making my family watch these. Trying to build this mindset in my offspring. :)
Mr Smart is very happy to learn that these videos are helpful for you. Thank you for appreciation!
Many thanks.
A series on financial literacy would be great!
Mr Smart will surely make a dedicated series
of financial literacy and education especially for you. Thank you for your suggestion!
I like it .... idea of financial literacy series is good
Mr Smart will bring a complete series about financial literacy for you
This is a fantastic video. It's clear and easy to understand your explanations. Thank you for providing this information.
Glad it was helpful!
So important! I need to learn this so I can teach the youth in my community. Thank you.
Exactly! That's the mission of Mr. Smart. He endeavors to promote smart living on five levels: Physical, Mental, Social, Professional and Financial.
Thank you for giving value to the content of Mr. Smart.
Regards
Team Mr. Smart
Loved this video
Excellent
Thank you for your appreciation!
Kindly share this content with people around you who may need it.
Warm Regards
Team Mr Smart
Yes I want to know
Great! Stay tuned and watch our latest series on financial literacy. We'll provide you with valuable insights and knowledge.
Yes we want how to be financially literate viedo
Thank you!
Mr Smart will bring a complete series of financial literacy for you.
Regards
Team Mr Smart
I like to build financial wealth to give to give.
That's an inspiring goal! Building wealth to give is a noble mission that creates a positive ripple effect. Keep growing and sharing the wealth!
So beautifully speach
Thank you! Glad you found it insightful. For more financial wisdom, stay tuned to Mr. Smart.
Formal education is never a guarantee to take financially smart decisions. A college drop out can be more wise financially.
Thank you for appreciation
Please make a video on investing in stocks for beginners
Great idea! Stay tuned with us watch our video on stock investing for beginners.
Why Mr. SMART have little subscribers....
There are three reasons for this: 1) Because each and every subscriber of mine is 100% organic 2) CZcams algorithm has not yet discovered my channel 3) I have not been making videos which truly engage the audience.
Yours truly
Mr Smart 😀
@@JoinMrSmart absolutely
Maybe Because this is education people don't like studying
What is the financial literacy he talking about i dont get it .
like the basics of budgeting and all or actual books and whats taught to accountants
@@ShivamSharma-tz7td Absolutely, financial literacy covers budgeting and more. It's practical knowledge, different from what's taught to accountants.
I've arrived 🎉
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