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Financial Education: Moneypete's two cents worth
For generations the world has embraced the notion that everyone should study hard in traditional schools, get good grades and a high paying job with great benefits. When our grandparents and great grandparents were working that was excellent advice. In those days there were great company pension plans and social security was in great shape. Now the times have certainly changed but our philosophy about what to do to get ready for life has stayed the same. It has stayed the same because of a number of reasons. We are comfortable, or have been, in many ways. We haven’t had to think much, except for in the classroom, for years and years. We stay in that comfort zone by continuing to embrace the same philosophies of our grandparents.
There are more and more people past the traditional age of retirement who still must work full time in order to live the way they have grown accustomed. They have no retirement plan to turn to and social security barely covers the utility bill. Financial education or literacy has become so important for all of us now that the world of business and commerce has changed. The information age has overcome the industrial age. In days past it wasn’t as important to know how to create your own cash flow and to know financial information. The way to thrive in today’s world is to start businesses and create investments that produce passive income. In order to do that effectively you need to be financially literate.
The links of the Moneypete.com Financial Education category will help you get educated on the things that will help you along your way. You will need to know how to read a balance sheet. You will need to know how to create and interpret a cash flow and income statement. If you are starting a business you will most likely need a business plan with all of these elements in it. You must have a handle on all of these factors of business in order to win the confidence of investors or Venture capitalists who may or may not invest in your business based on how your documents look and what they say. Moneypete.com has great links to help plus many books in the book room and videos in the video room that deal with these subjects.
Another thing that you may need to get control of is your spending. Today there is a tendency for young people to want all the comforts that their parents provided for them right away when they go on their own. Many young couples buy furniture and other things “on-time” or put the charges on a credit card. This is nearly an epidemic in America today and must be guarded against or dealt with if it is a problem for you. It is a problem of such magnitude that Dave Ramsey has become a very famous name around the world dealing with this issue on the radio and in his books. Moneypete.com has links to Dave’s website and the book room has his books available to purchase
