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Ignorance of financial education equals a debt-ridden society

2021-02-19  Staff Reporter

Ignorance of financial education equals a debt-ridden society
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It is very sad to see how people are struggling financially in a helpless manner. Debt is expensive. 
Although most people are getting substantial incomes to sustain themselves, the majority can’t get ahead. How come that the majority of people have the same financial struggle, specifically debt? In my opinion that can only be so if they live by the same rules or the same behaviour patterns. That is, following what everyone is doing. 

Quoting the words of Mark Twain, “Whenever you find that you are on the side of the majority, it’s time to reform.” Find your own way and operate by your own rules. Don’t follow the crowd. How can we get out of debt? The best answer I can give is that we should stop ignoring financial education. The qualification we studied for can’t rescue us. Ironically it promptly gets us even into huge sums of debt. 
In addition, being financially illiterate will only exacerbate the situation, and we the youths will be hit the hardest by depression, anxiety, high blood pressure and early retirement.

Thomas Jefferson once said, “Banking institutions are more dangerous to our liberties than standing armies.” Banking institutions are big bullies and if we give them a chance, they will rip us off. 

If there were a time you have been contemplating to change your financial status, this is the time. Start today, read books – as a matter of fact the internet is littered with free financial education content. Reach out! Get out of your comfort zone. The hard truth people don’t want to hear is that the main cause of poverty or financial struggle is “ignorance”, not the economy or the government. 

Most people don’t have time to educate themselves and they use words like, “I don’t have time or I’m busy” as an escape. Busy people are often the laziest people. As the saying goes, you can’t teach a dog new tricks. Of course, there is good and bad debt. But to really know the difference you need financial education, because old ideas are the biggest liabilities. “You cannot solve the same problem with the same level of consciousness that created it,” – Albert Einstein. 

To conclude, ignoring financial education will only keep us blind and eventually wind us up to be a debt-ridden society. Here is a quote worthy to ponder, “If you find you have dug yourself into a hole, stop digging.”

2021-02-19  Staff Reporter

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