Importance of Financial Education
No matter what your career or lifestyle, financial education is an important part of improving both your job status and your life in general. Financial education is about more than just knowing how to save for retirement or meet other long term goals – it's about making the most of the money you have so that you can work smarter instead of harder. Financial education can hep you stretch a paycheck farther, make the most out of sales and even elevate your lifestyle.
Financial education and literacy have become hot topics in the wake of recent economic news and more people than ever are looking for ways to make their money work for them. To some, this means only investigating options such as investments but, in reality, financial education can be used by anyone, regardless of how much – or how little – they have in the bank.
A study and analysis done by The Principal Financial Group in 2012 found that 92% of participants in a Financial Education course agreed to take specific positive steps to improve how they handled their personal finances. Of that group, around 80% actually followed through and put the principles into action. This kind of result has bolstered the idea that financial education is more than just something for those with money to invest – but is something that can help everyone, regardless of their economic standing.
Financial education has become a service offered not only by investment professionals, banks and other financial businesses, but also a service offered through various workplaces as a direct benefit to their employees. Employers know that money concerns rank cause intense stress for some employees and while better financial incentives can help, being able to help employees learn how to better manage their money gives the power back to the employees and makes them less directly dependent on raises or bonuses which may not be as plentiful in this economic climate.
Understanding how financial education can improve your life is the first step to learning not simply more about it, but how to make the most of it. Financial education can help to establish savings patterns, real world budget ideas and the ability to once again take control of your personal finances, even if what you're bringing in doesn't change. Financial education may not land you a raise, but it can help you live as if you did.