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The Investor Challenge / How to create a firm financial foundation
« on: November 19, 2020, 10:37:12 am »
Why is it that the majority of people fail when it comes to setting up a firm financial foundation?
South Africans engage in the economy daily, from the blue collar miners to the well suited business men. We all strive to earn a decent income, we work for that raise or for that extra source of income, yet when the sun sets our finances are not in order.
Can this be blamed on our education system failing to teach pupils the basic principles of money, maybe we can even blame the way we have been brought up. BUT, despite the way we were taught in school or how we were raised, we have only ourselves to blame. Exercising proper financial management does not necessarily require a degree, however it does require some extent of knowledge. It requires the individual to possess the knowledge, as well as the understanding of how to apply the knowledge in a suitable and financial manner.
So let us talk about the following three questions and let us what you think:
1. What does it mean to have a firm financial foundation?
2. What methods should we pursue in order to acquire financial knowledge?
3. What prevents individuals to have a firm financial foundation?
South Africans engage in the economy daily, from the blue collar miners to the well suited business men. We all strive to earn a decent income, we work for that raise or for that extra source of income, yet when the sun sets our finances are not in order.
Can this be blamed on our education system failing to teach pupils the basic principles of money, maybe we can even blame the way we have been brought up. BUT, despite the way we were taught in school or how we were raised, we have only ourselves to blame. Exercising proper financial management does not necessarily require a degree, however it does require some extent of knowledge. It requires the individual to possess the knowledge, as well as the understanding of how to apply the knowledge in a suitable and financial manner.
So let us talk about the following three questions and let us what you think:
1. What does it mean to have a firm financial foundation?
2. What methods should we pursue in order to acquire financial knowledge?
3. What prevents individuals to have a firm financial foundation?