I recently met a guy who needed a personal loan of Rs. 2 Lakhs. The only problem was he is a software engineer and is not financially literate. Just to take a loan he could not decide where to go. Private banks or nationalized banks? He was unaware of margins, cut-back percentage and many other things. He was ignorant about the hidden charges which private banks apply. He felt helpless when he realized that he was illiterate in finance. At that moment he realized the importance of financial literacy!
Today, Financial literacy is a major issue. In the coming years, our Indian economy will be seeing rough days. Are you ready for that? Is your financial position, right now, secured enough? If no, then are you at least financially literate?
Asking this Q to yourself is really important. Why? If our financial condition now, is such that we do not feel secured financially, what will happen when we retire from our work, a few years down the line?
Financial literacy is the ability of individuals to make appropriate decisions in managing their personal finances. And only if we plant a tree now, we will receive the fruits later in life.
Good news is that I am soon going to start a financial literacy camp where all the folks (who are uncomfortable when it come to finance) can get educated about managing their finances, at a very small fee. I will provide some reading material which will be used as reference in future.
Remember: Learn to Earn and Earn to Learn.
JGD.
OAK Tree
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