Most people are completely clueless about how to properly manage their personal finances. Is this intentional or coincidental?
Does anyone remember taking a Personal Finance course in their k-12 education? How about in college? Even if you were a Finance major, you took classes such as Corporate Finance This means you were taught how to properly manage a company’s (employer’s) finances but not your own.
Where was your education on the following?:
- compounding interest
- rule of 72
- credit card debt (which is daily compounding interest
- mortgages PMI
- debt-to-income ratio
- FICO scores
- investing in stocks & bonds (Options, Calls, Puts, ETF’s)
- life insurance (whole vs term vs universal)
- retirement savings, 401k
- Roth IRA, 403b, annuities
- 529 plans for your children
- student loan debt
- estate planning
- or simply how to balance a checkbook
Here’s another question:
Does the federal government own the Federal Reserve?
If you answered yes, you are wrong! It’s actually privately owned by a few families.
The U.S. dollar is fiat money. Do you know what this means?
“Well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
~ Henry Ford
What do you think – Intentional or Coincidental?
Dr. John Beckem is a Personal Finance Expert, Educator & Consultant. He helps middle income individuals and families free themselves from debt and build generational wealth.