A guest post by Thomas Akiyama, a branch manager for a lending company.
Learning personal finance opens many opportunities up.
It is the key that supports not just many dreams and wants, but daily needs as well. However, it is not the physical aspect that we teach to appreciate it; understanding money is what we should strive for. I decided recently to forgo a passionless life with six figure monetary gain to zero. I remember as a kid in 5th grade learning about currency and how we have choices in spending our money. We were all told to keep an emergency fund for a rainy day. I grew up in Honolulu, Hawaii and learned that if we want to explore the “Mainland” (aka the continental United States) we needed to keep a dedicated fund.
Now I work as a branch manager for the nation’s largest personal lending company. I see firsthand how important financial education is.
My clients have financial knowledge ranging from no savings at all to over saving and not planning. It is best to be the second type of person but even then, you must ensure you plan for your financial well-being. Things I didn’t know about money as a kid was saving with a purpose is the key to understanding why we need to save in the first place. It’s the “I want that thing” mentality that is the reason why saving is needed in the first place.
When you can establish what you want and how much money it will take to get that you take the first step into becoming financially aware of your surroundings. Saving is the key to success!