How to Become Financially Successful in No Time

Financial Education is essential for your own financial success. You should remember that there are so many things out there that could lead you to bankruptcy; and the worst part is, you barely know all of these things. Education is essential in order to learn not only the new things in life but also the old (but still relevant) things that life has to offer.

Being business minded does not only come from gut instincts or brute. More than anything else, it comes from a base of knowledge. This base of knowledge could basically be learned by entering institutions offering the best financial education. You should remember that education is an investment in its own tradition.

It is an investment since it also costs a lot of money. The premise that the institutions have is the fact that they provide an effective curriculum that would be useful for the next years to come. Thus, does anything of value come for free?

Education is imperative to financial success because nothing could really beat the systematic ways of educational institutions. For instance, they would hire professors who are more than qualified in each specific field. These professors could impart their knowledge to their students making them aware of the new and the old ways of the trade.

Though some would argue that experience is necessary to find the success, you should also try to learn something in the adage that “a little knowledge is dangerous”. This makes you prone to basic mistakes. Your lack in qualification may also mean your very own lack of knowledge in certain areas. Always remember that the cost of education would not be too costly if not for financial returns in the future.

Wealth and economic stability today can sometimes be hard to accomplish. You need not only the courage to risk things, but you also need to have the brain when to stop and when to go for everything. Your guts may tell you one thing, but there are instances when your prior knowledge will help you move in calculated steps in order to find financial success.

You may argue that Bill Gates, Steve Jobs and other key personnel may not have finished college. These are nothing but rare events of people learning from their trade on their own. It does not mean that it is impossible to find financial success without formal education. If you look at the statistics, how many people became stuck to their minimum wage because of the lack of educational attainment?

The statistics will speak for itself. Though there are accidents and there are rare gems who found success among those without a background in business or any specialization for that matter; you need to understand that a diploma can increase your chance of financial stability ten times over a person with experience alone. You need to remember that education is crucial, and this is the reason why it was formalized and given the proper system.

There are so many ways in order for you to attain a financial degree. You may get it through a scholarship or you may also have it through loan. The fact of the matter is the only thing that separates you with financial success is that degree in finance. You need to understand that life is more institutionalized as you think it is.

Corporations hire people with degrees. People favor people with the right background to run their company. Though they would sometimes say that, hard work will always be favored over educational attainment; achievement of such degree is already a reflection of hard work. Thus, if you want to have financial success; remember that financial education is the key towards this goal.

Understanding the Need For Financial Education (Or Growing Old and Poor on Lottery Tickets)

In today’s world of advanced technology there is no shortage of information on just about any subject or topic you want to explore. Hard copy magazines can be bought in any supermarket or news agency on any topic from ‘how to plant tomatoes’ to ‘how to build an aero plane’. The internet is now the most used piece of technology for sourcing information with over 1.6 billion users worldwide. If it’s not on the internet then it hasn’t been discovered yet.

For most of us financial freedom and prosperity are challenges that we all seek in our lifetime. It’s the reason why so many of us spend money on gambling and lotto around the world in the hope of achieving that dream without the pain and effort needed to get there under our own steam – and yes, I’m guilty too of trying to fast track my way to wealth and glory. In fact, according to an unverified article found on the internet $224.3 billion was spent on legal lotteries throughout the world in 2007. $166 billion of that figure was purchased online. I think that’s called something like wealth redistribution. The fact is only a few out of millions get to share in the wealth. The rest of us will grow old and poor buying lottery tickets. This emphasizes the need for financial education.

Saving for retirement and enjoying a more prosperous lifestyle along the way is not impossible to achieve but it does require an understanding of the need for financial education. As a 50 something year old who has spent a lifetime in financial services (I like to call it salt and pepper experience!) I still come across too many examples of people who do not understand the need for financial education. Only the other day I was speaking with a 21 year old apprentice carpenter who believed that superannuation (retirement savings) was an imposed burden on his earning capacity and belonged to the ‘government’ until he retired. This is a common belief by many young people today and surely points to the failure of governments and older generations to pass on and educate people about the need for financial education.

The need for financial education is not limited to just the younger generations either. It’s why more than 95% of the currently retiring baby boomer generation will retire on less income needed to support a comfortable lifestyle. With the advances in technology and information, particularly the internet, everyone has the opportunity to become financially educated. That’s why I called my blog ‘Wealth Happens Online’. The internet is not only a place where you can learn about every aspect of financial education from saving for retirement, investing in shares/managed funds, property investment, a variety of alternative investments and business opportunities but it’s also a place where you can source information on the need for financial education.

Understanding the need (or what your goals are) is the first step to meeting the challenge to financial freedom and prosperity. Since the GFC hit, the world has become wary of financial advisers and others who give advice on investments. If you are compelled to use the services of a financial adviser rather than sourcing your own information on the internet then look for an adviser who understands the need for financial education before ‘selling’ you on investments. No matter what your age, understanding the need for financial education is the safest and surest way to financial freedom and prosperity. The alternative is to grow old and poor on lottery tickets.

Women’s Education

Women’s Education is very essential in this world. People are giving importance for women’s education nowadays. More steps should be taken to improve education among women not only those who are in urban but also in rural areas.

World Education has a long history of successfully working with local partners to design, execute, manage and evaluate participatory, community-based initiatives to advance the conditions of girls and women. World Education’s programs help girls enroll and stay in school and help women gain access to or create new educational, financial, and social resources in their communities. World Education programs help girls and women improve their own lives, the lives of their families and the conditions in their communities. For parents – and especially mothers – this means creating conditions that ensure their daughters have equal access to basic education, are able to make informed decisions about their futures, and are able to protect themselves from trafficking, sexual exploitation, HIV and AIDS, for example.

By improving educational opportunities for girls and women, World Education helps women develop skills that allow them to make decisions and influence community change in key areas. In turn, these programs have a positive impact on some of the most profound issues of our time: population growth, HIV and AIDS, peace and security, and the widening gap between the rich and poor.

Education in India is only one among various other elements that have captured the attention of the world. While the United Nations is worried about the presence of a large number of illiterates, various other countries are amazed by the quality of some of the human resources that the Indian education system has produced.

The growth of the Indian economy in the recent past and the compulsion to sustain it is also forcing the Indian government to accelerate the process of developing all the branches of the Indian education system. Therefore, it would be very interesting to understand and analyze the various structures of education in India, its present condition and future developments.

The leaders of our freedom movement realized the importance of girls’ education and had put it as a prime agenda for national development. However, when India attained independence some 60 years ago, it was a formidable challenge that the new government had to face Social and cultural barriers to education of women and lack of access to organized schooling, had to be addressed immediately.

Education has been regarded as the most significant instrument for changing women’s subjugated position in the society. It not only develops the personality and rationality of individuals, but qualifies them to fulfill certain economic, political and cultural functions and thereby improves their socio-economic status.

In India, the increase in the educational facilities and opportunities for women and the removal of traditional bars on entry of women to particular branches and levels of education came to be supported by all champions of women’s emancipation from the 19th Century onwards. However, the Indian reformers of the 19th Century wanted to educate women to perform their role as good wives and mothers and not to make them as direct active participants in the process of national development of the country. The colonial authorities generally supported this limited view-point of women’s education. The expansion of education and health services in the 20th Century, however, precipitated a need for women teachers and doctors which resulted in the incorporation of these two vocations in the programs of women’s education.

In spite of the constitutional provision of equality and the recommendations of the committees and commissions about the provision for the same type of education for women as for men, the traditional limited view point of women’s education, with a separate role of women in the society. has had a great influence on the planning for women’s education.

Thus women’s education should be taken as a serious issue and take steps to develop it among every woman both in urban and rural.

Why Employee Financial Education Should Be a Priority

Money – the more you make, the more it takes, or so it seems. This statement applies to employers as well as employees. While most businesses struggle with the challenge of doing more with less, employees struggle with the same challenge and are drowning in debt more than ever. While some debt may be necessary for both employers and employees, too much debt is usually the result of poor money management. Financial education, offered to employees by their employer, can be one of the best investments employers can make.

Stress hits productivity

According to research, more than one-third of employees are stressed about financial issues, with as many as 50% of them slowing productivity as a result. Other studies show that 90% of employees are dissatisfied with their financial wellness, 75% are insecure about retirement, and 50% hold a part-time job. Employers are surprised to learn that about a third of these employees waste 20 hours a month dealing with money matters on-the-job, are less productive, are absent more often from work, and also suffer from health and family problems.

Teaching employees about money

Since the Enron bankruptcy, many policy makers and other leaders at both the national and local levels have called for a greater focus on financial education. It has been shown that financial education programs can benefit all employees, regardless of their financial status. The National Institute for Personal Finance Employee Education (NIPFEE) has calculated that the first-year return on investment in workplace financial education, even for employees who make only slight improvements in their financial wellness, is more than $400 per employee (e.g., fewer absences, less time dealing with financial matters, and increases in productivity). Here’s an eye-opener – the NIPFEE estimates that the potential return on investment for employers who provide workplace financial education is at least 300 percent.

Some organizations have used financial education to help recruit and train their employees. This type of education also fulfills the requirement from the Department of Labor for employers offering defined-contribution pension plans, such as the 401(k).

Everyone reaps benefits

One popular financial education program, offered by companies like General Motors, US Steel, Exxon/Mobil, Daimler-Chrysler, Xerox and Ernst & Young, teaches employees how to give themselves a 35% raise by eliminating their personal debt. Although this sort of raise doesn’t require a company to touch a dime of its payroll, it conveys a message of goodwill to employees and helps them to become more engaged with their work. Employees learn how to reach their financial goals using the money they make now. They have less stress and feel less pressure to make more money.

Besides being a sound investment in employees, a quality financial education program would benefit your business for years to come. Workers will be more tolerant of budget cuts that prevent expected increases in pay, there will be fewer employees working second jobs or looking for higher paying jobs, and employees who are more cost-conscious at home should be more cost-conscious at work.

Companies lose through doing nothing

Unfortunately, most employers ignore workers who have personal money management problems because they do not realize the high cost of doing so. The reality is that workers’ personal financial management problems cost employers a lot of money.

The bottom line for most companies is that you can pay now or pay later. If you chose to offer your employees a good financial education program, the investment you make in your employees will not only enable them to better manage their lives, it will enable your workers to better manage the future of your business. Their future is your future.