What they do not teach you in schools about money: the way to financial empowerment

Cash had always been the main source of a transaction for the past generations. However, nowadays, rarely would you see cash being used, especially among the younger generation. The economics and means of shopping have also changed with a range of choices available for the consumers – credit cards, debit cards, card-less transactions, online shopping, and so much more. With the advancement of technology came a number of convenient payment methods and financial services. However, it also brought with itself some financial problems and accumulated debt. With lack of financial literacy, more and more people are drowning in debt and suffering from financial issues. The main culprit in this scenario is the lack of financial education, especially among the current and the younger generation.We all have heard about the financial crisis, which will not only affect us, but also the generations after us. It is not just a problem of a credit; it is a lack of financial education. This crisis increased the people’s tendency to learn more about how to use the financial tools, about borrowing, saving, and investing.34According to the research conducted, there is a substantial link identified between financial awareness and financial stability. The studies infer that the individuals, who have more financial literacy, are making better and economically rational decisions in the areas such as real estate, insurance, investing, saving, and other similar context (Lusardi Annamaria and Olivia S. Mitchell, 2014). Financial education ultimately leads towards better financial decisions. If looked from the institutional perspective, it is evident that a person is able to attain more financial security and gain social performance target assessment if they have financial capabilities. Some of the recent studies, like that of “Klapper Leora F., Lusardi Annamaria, and Georgios A. Panos (2016),� indicate that people having financial literacy are more likely to instigate their own businesses and have a better performance than people who lack the financial knowledge and skills.In this book, I want to arm you with the education and knowledge that will protect you and help you to increase your financial awareness so that you can achieve financial freedom. Education is a lifelong process. You do not have to be a genius to take part in this process; you have to be ready, willing, and able to learn. This book will not tell you what to do or advise you, it intends to help you become fi