subject: A Need For Financial Literacy Education [print this page] Now more than ever there is a desperate need for Financial Literacy Education. So many people just are not able to get themselves wrapped around the very basics of their finances. The result of this is that they are probably being taken advantage of at some point by some one just about every day. Thankfully the basics are not difficult, and with a little effort it is not hard to learn how to make money work for you.
By just looking around one can see the need for financial literacy just about everywhere. Anymore, when you purchase something at a store or fast food establishment, the attendant is unable to calculate the correct change without the register. This is not an inability to understand calculus, which many of us have, but rather it is failure to grasp simple math.
If you have been out to eat recently, particularly in a nicer place, you may have noticed the tip was calculated on your bill for you. Could this be a response to the average customer's inability to determine the proper percentage of their bill they should leave for the wait staff? Once again this is a simple task that many simply can not perform.
People spend lots of money on their transportation, and sales people probably love to hear a customer ask them what the monthly payment will be. The real questions are the length of the load and the finance charges, however most either don't know or don't care enough to discuss these items.
Buying a home is another big ticket purchase where financial literacy fails many. A buyer is presented with page after page of legal paperwork he or she will be responsible for and they sign these documents without a true grasp of what they mean. So many fees or other variables are negotiable however the average buyer doesn't know this or doesn't know enough to know how to do so.
As people become older they often began to become interested in how their money works and how to best make it work for them. Unfortunately, by this time it can be too late to begin effectively saving for retirement. More people would probably save more money if they had been offered a financial education or if they took the time to educate themselves.
In the end, the lack of financial literacy hurts everyone. Thankfully there are programs available, both traditional classroom courses and free government problems. As they say, the more you know, the more you know, and in the case of financial literacy education, you can start by searching to a learning opportunity that suits you, and then getting started.
