Money Matters: Part One
“Knowledge is power” – Sir Francis Bacon
The optimal medium for being successful and having financial stability is an education. When we’re knowledgeable on topics involving money we are more likely to reach our monetary goals and be smarter about our finances. In fact, the Federal Deposit Insurance Company (FDIC) acknowledges that education is important for all individuals, particularly people who make little income. Even those of us who do not have a lot of banking experience can develop skills to help us become monetarily stable. Financial instruction fosters more responsibility in us when we handle money and helps us learn to create a budget that we can stick to.
A financial education can help families be closer to one another. Money issues are big factors that play in the overall dynamics of families. Learning the steps that we must follow to reach financial success and become more stable with money, can have positive effects on our families, resulting in more positive relationships with our families. Usually, different monetary views can lead to difficulties in marriages. Married couples are less likely to experience monetary conflict when they become educated on financial topics. They learn how to save money, control spending habits and accumulate additional revenues when they enroll in a financial education course.
Courses in a financial education program focus on improving the financial decisions that we make. This can be beneficial because we become aware of the path that we need to follow when it comes to making important financial choices. We learn how to avoid costly mistakes and avoid or get out of debt. We will experience less stress as a result because we will not have to worry about money matters.
There are several important financial areas that we need to learn in order to become stable. We need to manage our money better by creating goals, develop a way to track our spending and saving habits and make necessary changes where it is needed. We also need to learn about what credit is and how to use it to our advantage instead of accumulating large amounts of debt. We can learn how to use the services provided at banks as well so that we can experience more rewards. Don’t be afraid to seek out financial advice where you do your banking.These are subjects that may not have been taught in school however, it’s never too late. Don’t allow a serious financial situation to develop before you educate yourself in these important areas. Jennifer Fidalgo (TCC)
Next week we continue to discuss Money Matters: Education – The Best Vehicle for Success and Financial Stability (Including Biggest Causes of Debt and How to Manage It)