SoC04 Beyond the Books: The need for equipping for graduates with Financial literacy to ensure financial Success After Graduations

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josee israel

Member
Jun 2, 2024
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It is important to know that the equation is no longer linear and things have changed ,we should break the belief that we had before , the idea that we should go to school ,get good grades,get nice jobs and have a fabulous life , it Is crucial to become aware that it is not just having money but what matters more is how to use the money we have to produce more money ,and that having good grades is not an indicator of having good financial achievement it is better we rethink and understand that a degree opens doors, but it is financial literacy that will unlocks the future financial prosperity

Financial literacy It is about understanding the very nature of money, its inherent power, and the principles that govern its creation, management, and multiplication. and becoming a master of your own financial destiny.

The below are common misconceptions and myths about money among mos of people

 Money is the root of all evil: This proverb is often misinterpreted. Money itself is a neutral tool. It's how you use it that matters. Financial education helps ensure you use it for good.

 Money can't buy happiness: While money can't guarantee happiness, financial security can reduce stress and open doors to experiences that can contribute to overall well-being. Financial literacy helps manage money for a more fulfilling life.

 Money changes people: Money can expose underlying personality traits, but it doesn't inherently change who you are. Financial education can help you manage money with your values in mind.

 Money is scarce: Abundance is a more empowering mindset. Financial literacy teaches skills to grow and manage your money, creating a sense of opportunity.

 All rich people are lucky: Most successful people achieve wealth through hard work, calculated risks, and smart financial decisions. Financial education empowers you to make similar choices.

 It's better to be poor and happy than rich and miserable: Happiness is multifaceted and doesn't depend solely on wealth. Financial education can help you achieve financial goals that contribute to your overall happiness.

 You can't talk about money openly: Talking openly about money can be uncomfortable, but it's necessary for financial planning, especially in relationships. Financial education equips you to have constructive conversations about money.

 You need a lot of money to make money (invest): You can start investing with smaller amounts and gradually build your portfolio. Financial education teaches you about investment options for different financial situations.

 Financial advisors are only for the rich: Financial advisors can offer valuable guidance at various income levels. Financial education helps you understand how to choose and work effectively with a financial advisor if needed.

The reality is that our education system has been producing graduates who have good results with high GPAs, but they lack education on the proper use of money, which makes them end up being dependent. It is important to recognize that this education is more than just understanding budgeting, as it goes far beyond that. In this education, we will learn important things such as entrepreneurship and investment. This education will empower young people to have ideas for self-employment and investment, rather than just relying on government jobs.

In his book "Why 'A' Students Work for 'C' Students and Why 'B' Students Work for the Government" by Robert Kiyosaki challenges traditional views of success tied to grades. Here's the essence related to financial education by enforcing and priotizing the essence of financial intelligence which is important knowledge that anyone should get it

It will induce Entrepreneurial Thinking among graduates : Financial literacy goes beyond saving and budgeting. It encourages skills like risk management and building wealth through assets that generate income. These are seen as crucial for "C Students" who become successful entrepreneurs.

It will foster Financial Independence: it is important that we should realize that the goal shouldn't be working for money, it should be having your money work for you. And this is what we will now call financial freedom as financial education equips students with the skills on how to make money works for them R.kiyosaki once said "Financial freedom is available to those who learn about it and work for it."

it will change the mindset of graduates and their view on money most of student think that they should study hard , get good grades , then being hired in good job get paid nice salary then enjoy good life but t what the don’t know isthat the good grades don't define your financial future, but financial literacy does that after all they will get money without knowing how to use it wisely this make them end up broke financially even though they had good grades

it enables to make informed decisions , Financial education empowers you to make smart choices with your money. You can avoid scams, high-interest debt, and bad investments. Grant Cardone highlights this by saying, "Financial freedom is not about making a lot of money; it's about having enough money to live the life you want, on your own terms." For example government offers money for accommodation to university students but most university students don’t know how to handle that amount of money but incase they are well equipped with financial education they will now be able to make correct decisions about money usage

it is important to know that things have changed and the equation is no longer linear that it is not just case of having money or having capital it is important to be aware on how to not just be happy on possessing money but focus on creating systems that will work to produce more money

Overall, financial education is seen by successful investors as the foundation for building weal
 
It is important to know that the equation is no longer linear and things have changed ,we should break the belief that we had before , the idea that we should go to school ,get good grades,get nice jobs and have a fabulous life , it Is crucial to become aware that it is not just having money but what matters more is how to use the money we have to produce more money ,and that having good grades is not an indicator of having good financial achievement it is better we rethink and understand that a degree opens doors, but it is financial literacy that will unlocks the future financial prosperity

Financial literacy It is about understanding the very nature of money, its inherent power, and the principles that govern its creation, management, and multiplication. and becoming a master of your own financial destiny.

The below are common misconceptions and myths about money among mos of people

 Money is the root of all evil: This proverb is often misinterpreted. Money itself is a neutral tool. It's how you use it that matters. Financial education helps ensure you use it for good.

 Money can't buy happiness: While money can't guarantee happiness, financial security can reduce stress and open doors to experiences that can contribute to overall well-being. Financial literacy helps manage money for a more fulfilling life.

 Money changes people: Money can expose underlying personality traits, but it doesn't inherently change who you are. Financial education can help you manage money with your values in mind.

 Money is scarce: Abundance is a more empowering mindset. Financial literacy teaches skills to grow and manage your money, creating a sense of opportunity.

 All rich people are lucky: Most successful people achieve wealth through hard work, calculated risks, and smart financial decisions. Financial education empowers you to make similar choices.

 It's better to be poor and happy than rich and miserable: Happiness is multifaceted and doesn't depend solely on wealth. Financial education can help you achieve financial goals that contribute to your overall happiness.

 You can't talk about money openly: Talking openly about money can be uncomfortable, but it's necessary for financial planning, especially in relationships. Financial education equips you to have constructive conversations about money.

 You need a lot of money to make money (invest): You can start investing with smaller amounts and gradually build your portfolio. Financial education teaches you about investment options for different financial situations.

 Financial advisors are only for the rich: Financial advisors can offer valuable guidance at various income levels. Financial education helps you understand how to choose and work effectively with a financial advisor if needed.

The reality is that our education system has been producing graduates who have good results with high GPAs, but they lack education on the proper use of money, which makes them end up being dependent. It is important to recognize that this education is more than just understanding budgeting, as it goes far beyond that. In this education, we will learn important things such as entrepreneurship and investment. This education will empower young people to have ideas for self-employment and investment, rather than just relying on government jobs.

In his book "Why 'A' Students Work for 'C' Students and Why 'B' Students Work for the Government" by Robert Kiyosaki challenges traditional views of success tied to grades. Here's the essence related to financial education by enforcing and priotizing the essence of financial intelligence which is important knowledge that anyone should get it

It will induce Entrepreneurial Thinking among graduates : Financial literacy goes beyond saving and budgeting. It encourages skills like risk management and building wealth through assets that generate income. These are seen as crucial for "C Students" who become successful entrepreneurs.

It will foster Financial Independence: it is important that we should realize that the goal shouldn't be working for money, it should be having your money work for you. And this is what we will now call financial freedom as financial education equips students with the skills on how to make money works for them R.kiyosaki once said "Financial freedom is available to those who learn about it and work for it."

it will change the mindset of graduates and their view on money most of student think that they should study hard , get good grades , then being hired in good job get paid nice salary then enjoy good life but t what the don’t know isthat the good grades don't define your financial future, but financial literacy does that after all they will get money without knowing how to use it wisely this make them end up broke financially even though they had good grades

it enables to make informed decisions , Financial education empowers you to make smart choices with your money. You can avoid scams, high-interest debt, and bad investments. Grant Cardone highlights this by saying, "Financial freedom is not about making a lot of money; it's about having enough money to live the life you want, on your own terms." For example government offers money for accommodation to university students but most university students don’t know how to handle that amount of money but incase they are well equipped with financial education they will now be able to make correct decisions about money usage

it is important to know that things have changed and the equation is no longer linear that it is not just case of having money or having capital it is important to be aware on how to not just be happy on possessing money but focus on creating systems that will work to produce more money

Overall, financial education is seen by successful investors as the foundation for building weal
Well said, financial literacy is a tool to all cadres not only for grandaunts. It shapes the perspectives of our mind to create a living we desire.
 
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