every once in a while, we do question ourselves about why is financial literally important? we are surrounded by different kinda people who are managing their money in a different way. Some of them, quite foolishly tbh. and oh boy, ask us how much do we love to imagine how would’ve we spent the money.
very often we hear that financial literacy is very important for kids but it is as important for adults. to be fair, it doesn’t matter how much money you’re earning every month. it’s how wisely you’re spending the money that makes you rich. so the question rn is what is financial literacy? huh. now to put it in millennials language, financial literacy is learning about budgeting, investing and management.
you know you have started taking steps towards financial literacy when you are investing in the right projects. when you’ve finally started killing the urge to spend recklessly saving money for more important chores makes you a more mature learner.
so enough about it, no? here are the top reasons why is financial literacy important?
1. to help your future
when you are learning about finance, you’re not only making your present better but you’re also taking a step towards a smart future. it helps you make the thin line between your wants and needs. As a teen, we think it is super important. Gone are the days when you could’ve talked a teen about a date and made them spend their bucks.
teens now would much rather invest in crypto and mutual funds than on meaningless dates no offence, really. once you hack the art of money management, you can save up for your college or even better, fix the money and gain interest in it.
2. it makes you the smartest dude there is
when you want money, you have it. but when you start learning about the tricks to grow your money, that’s when you separate yourself away from the crowd. if you’re a teen, you’d legit see all your friends spending money and think, if only I had the money, I’d do 21 din me paisa double.
financial literacy makes you a smart earner and of course a smart investor. and in no time, when everyone would be questioning ‘why is financial literacy important’ you’d already know the answer. not saying you need to give out financial advice but bro, be ready cause once you make gains, you attract potential investors like a magnet.
3. you can become a financial guru/influencer
to be honest, finance is a very evolving thing right now, the speed of spread is usually more than before and we all wanna have a taste of it. there are sooooo many beauty/travel/fitness influencers but so few financial influencers. you can probably cut a future out of all your monetary learnings and guide people about what’s the best.
there are many people out there who are still trynna figure out why is financial literacy important. and with every passing day, the more people are listening about crypto, mutual funds and well, even normal hacks to save money and tax, they want in. you can be their inspiration. however, we highly advise you to only teach about the topics you have expertise in.
4. financial literacy makes you independent
while other kids would be writing assignments for their siblings for money, you can just go clubbing or hanging out with your pals with all the extra money you made. When you have the will to learn about money, it surely slides a feeling of ‘if you’re spending more, you gotta earn more’ in yo’ mind. taking up a side job will make you independent and you can be your own boss.
you also start saving up and thinking about a future. So when you’re in the time of any need, you needn’t give interest on extra money.
5. you can dream big and achieve them
come on, let’s take a challenge. a small one, if we might add. start saving smartly for just 6 months. start taking a side gig and freezing that money in a fixed deposit that you can break after half a year. the results would be magical. Every time you just order the food, try restricting it to once a week and cook for the rest of the week. In short, don’t splurge at all on anything.
after the given period when you see the amount in your account, you’d be shocked. and that’s what happens when you are financially aware. you start making this a habit rather than a challenge.
6. you’ll be prepared for your first job
this may seem kinda strange but folks, it’s very true. Working requires a rare sort of discipline. well, good for you cause you were already practising for it. you’d probably get even better at managing your money and booking better profits on them.
formalities like filling out taxes, rent and everything would be under control cause you know how to get the best out of your salary. financial literacy literally prepares you for all the super aspects of handling the bucks from quite an early stage.
7. to manage the rainy days
The best part about being financially awakened is that you won’t really have to face the wrath of rainy days. and even if you do, you can just take out your emergency fund and you’ll be good to go.
you’d also be able to help out your family or friends during their financial crisis. There’s no feeling better than that. there are one too many answers for why is financial literacy important, you just gotta find yours.
ending on a lighter note,
we know that you folks are already aware of the boon that financial literacy has in your lives. But to all our friends who are still looking for a reason to stop splurging and start focusing more on financial awareness, here is a sign to start today.
teens are focusing more on being woke when it comes to money and why shouldn’t they? the prime of their life is when y’all wanna be your own boss. get an akudo card and take a step towards handling your budget. there’s always a start, right? maybe here’s yours.
fellas, let’s get started on savings, shall we?