In 1866, John Adams wrote ‘Wealth of Nations’ which taught the new world of economics and he expressed his anger toward feudalism with peasants. The government then adopted the new theory of it limiting its control over financial business. Then, there were issues financially, John Adams knew financial literacy important for success in the country.
Financial Literacy is important for decision making financially.
You will learn about the benefits of savings. Saving benefits include having money available for an unexpected day. There are drastic matters that would require money to get yourself out of the hole, you would been to use the money from your savings to avoid a financial burden. Also, saving money in a bank could also earn you more money from interest.
You will also learn the benefits of budgeting. Budgeting benefits include not overspending your money, you are more prepared to have control over it. Overspending could cause debt in come cases, and it is difficult to get yourself out of debt. For instance, college students are known for “blowing” money, purchasing credit cards and exceeding their limit without having the money to pay the credit cards off; they now are burdened with paying those bills that have now messed your credit up making it hard to get loans. Financial education can improve my future by allowing me to know how to control my money. As I stated earlier, I could avoid any burden poor financial literacy would cause. The training and certification EverFi has help me by informing me about some financial information that I was unaware of it, therefore preparing even more for the future when I am finally on my own. It is true about the quote “Knowledge is power”.
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