Be it high school or university, anyone seeking to enter the workforce should at least take a personal finance class. I can’t tell you the number of people I know (friends and family included) that have managed to mess up their lives by not knowing the basics of personal finance.
What is Personal Finance?
Personal Finance is basically the ‘science of handling money’. It encapsulates all financial decisions and activities that an individual or household engages in the practice of earning, spending, saving and investing.
Why Taking A Personal Finance Class Important?
Life is not always a straight path – it has a series of twists and turns, highs and lows, lower lows and higher highs, tranquility and vicious storms. Personal finance is one of the tools that we can employ to help navigate during our weakest hours. Taking a personal finance class can save you hardships in the long-run and inevitable set you up for life.
Most people think they know how to handle their finances, and to some degree, that’s always the case. Money, however, is a very touchy subject for public conversation, so it’s rare for people to stumble across all the important personal finance concepts by the time they are out there on their own with a good income.
Personal Finance Basics
Personal finance covers a wide variety of money topic and provides the necessary skills for successful adulting. These topics include budgeting, expense management, debt, saving, investing, retirement planning, insurance and more.Therefore, understanding how these things work together and affect each other is vital for laying down the bricks for a solid financial foundation for you and our family.
Understand Your Options
Nowadays, there are just too many things you need to understand in the world of money – insurance, interest, credit, retirement, stocks, bonds, ETFs, mutual funds, estate planning and the list goes on and on. I wish our school system would make this requirement but we haven’t gotten there yet – that is an education that equips us for life because not all we because even career persons, physicists, and doctors, do need to invest for the long haul.
Bottom Line
So if you are graduating or leaving high school, take a personal finance class – it will end up being the most useful class you have ever taken, much more useful than your engineering classes or whatever.
Happy Investing!
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