The Debate (no.43); Financial literacy should be known to avoid poverty.

Hello friends,
Financial literacy is the understanding or proper use of budgeting, investing, debt management and various financial skills. Week 43 of a series of debates by @sahmie is titled Financial Literacy.

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Financial literacy is learning about the proper use of the money I have or the easier or less risky way for me to raise money from any source if I don't have money. Financial literacy gives a person an idea about debt management, paying taxes on income. Financial literacy gives an individual an idea of ​​setting financial goals for the future.

Why Financial Literacy Should Be There in Schools

Financial literacy as a compulsory subject or chapter of students in school can be of significant benefit in personal life for every student there.

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Learning to spend in line with income is an important issue. Learning financial literacy is the first step in controlling spending. In practical life, it is very important to know the necessary things for personal financial management such as budget control, savings. Another important part of learning financial literacy is debt awareness, there are many of us who overspend when we get a loan or take loans without thinking about repayment. Financial literacy will create our debt awareness which will protect us from financial losses. Long term planning is to save and invest for the future which will provide money for old age or for any important work. Knowing our financial literacy will make it easier to make long term plans. Learning financial literacy will make you feel comfortable and confident in making any financial decision that can lead you to success.

Let me add a small example from my life. I didn't save anything until I was 14 to 20. I spent whatever money I had, even if I didn't need it, which taught me a great lesson. I want to buy a camera in 2017 but I have not been able to fulfill my passion due to lack of savings and I realize that my unnecessary expenses have kept me away from this dream. Financial literacy not only fulfills your dreams but also makes you a confident and responsible person.

I invite you @leonciocast @azwar82 @rajusam to participate in this contest titled Financial Literacy.

Thanks for reading my post
Good luck to you.
I wish you well