Financial Competence Or Magic Wand?

Every day people get, give, invest or spend money. Someone’s cash flow resembles a turbulent river, and someone’s – a barely perceptible tiny brook. We all live in the world of finance, but many of us do not even know the basics of financial literacy.
What is the financial literacy?
The answer is obvious – for sound money management. Knowledge about the correct handling of money learns to multiply, save, invest wisely and manage your finances.
Examples of the financial illiteracy, unfortunately, are everywhere. Just recently I have heard from a relative, who complained that money sorely lacking, and the debts are growing. “What are the debts and on what you do not have enough money?” – I asked. It turned out that they have a monthly increase debt for rent and utilities, because the husband was forced to take credit for the treatment of his wife. In addition, you must eat, bring up two sons, students, buy necessary drugs or pay for a summer tour. From the conversation I understood that the main emphasis now is on loan repayment and the payments for the rent are just put aside and debt for the summer holidays is too put aside. The situation, of course, is complicated, but in my view, to postpone indefinitely the payment of utility services is wrong. You cannot pay the full amount, but some of that debt for the apartment wouldn’t grow up as active. After all to lose the house – it’s much more serious than overpay for credit loan. However, even on a loan you can try to resolve the issue – at least you can go to the bank and to explain your difficult financial situation. Bank is the serious organization, but its employs are not robots but people, and bank employees can make concessions, such as deferring payment of the loan. But neither the one nor the other, the family does not undertake, and still floundering in debt. There is a financial ignorance.

How to learn financial literacy?
There are plenty of options ranging from educational institutions and ending with self-study using books, personal experience and practical advice from successful people. But there is no single subject, after examining which, you immediately, as if by magic, become a man, receiving millions. Optimal variant of education is to regularly feed yourself not only with the theoretical knowledge, but do not be afraid to put it into practice. You can read many books on finance, to get acquainted with different methods of planning the family budget and even learn the basics of accounting. But all this will be in vain, if unaccompanied by any action.
So whether you need a magic wand at all?
Probably each of us at least once a year, wants to use the magic wand and change the life, adding luxury, wealth and success. And with it everybody understands that there is no such a wand. However, we forget that our world is infinitely rich, and many human capabilities are limited only by our insecurities, laziness and fear. Financial literacy – that’s the magic wand that can change your life. And while you’re in doubt about this, others have taken it into their own hands and began to work miracles.

World crisis has made lots of people taking care of their retirement and future, look around for different ways to save funds and retirement financial planners. Those who are concerned about their retirement well-being, are invited to visit this professional financial planner site – the proper spot online to get professional pieces of advice and learn how organizing personal finances is made.

Fortunately we live in the world of high technologies. It wouldn’t be good not to use this truly unique opportunity. Current Internet technologies provide us with a way to break the borders and look for anything we need all over the world. Go to social networks, look through relevant topics, participate in online discussions in niche forums. All this will help you be well informed about the events concerning your interests. Also, sign up for the RSS feed on this blog not to miss the latest publications on the topic.

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