Do you often think about how important money really is?
While money is not really talked about during the average social gathering, you probably know some friends or family members who seem to always struggle with their finances.
However, like any other loan, defaulting on a personal loan is not good as it would reflect in your credit report and cause problems when you apply for credit cards or other loans in future.
Without going into a deep philosophical discussion about money and spirituality (it’s out of the scope for this blog post!), it’s a fact that you need money in order to afford basic necessities in life. Money impacts all of us and our decisions have an impact on our finances.
Living paycheck to paycheck can be a very stressful way to live. While you may have a job that pays the bills, an emergency or unexpected big medical bill has the potential to wreak havoc on your life.
Financial literacy is similar to learning any other language. You have to use and apply your knowledge to stay proficient. There are certain terms and concepts you need to be aware of, and practice makes perfect when you’re building your awareness with money matters.
Regardless of your age, occupation, or income level, having a solid grasp on your financial situation helps you to be responsible with how you allocate the money that you earn. You’ll also have to be honest with yourself, so that you know how much money you need to live a lifestyle that makes you happy.
Here are some reasons on why personal finance is important — and why you won’t regret improving your practical knowledge on the subject.
Knowing about money matters goes beyond knowing that most of us need to have a job in order to pay the bills.
Here are some financial topics which are important to be aware of:
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