One of the major causes of poverty today is a lack of knowledge about how finances work. Money has principles by which you make it and it has principles by which you multiply it and grow it. Unfortunately, so many of us simply want money because we have an idea of its power when we spend it but we do not have a good understanding about how to acquire it sustainably, how to retain it and its proper utilization.
One of my biggest regrets in life is that I started learning about finances late. I must admit that I only began to understand the value and the principles of finances much later in life. This has disadvantaged me greatly because If I knew at an early age what I know today about finances, I would be much wealthier than I am today.
My point is this: Financial education is experiential and you can't learn it by theory alone. It's something you learn in practice and the earlier you start the experiential learning, the earlier you build up and become financially independent. In other words, put $200 000 in the hands of someone with experiential financial education and you will see how well they will manage and grow that money. But put the same amount in the hands of someone with no experiential financial education and see what disaster you will have caused. So the knowledge about finances is what drives financial success. Not how much money one has. Therefore, I urge you friends to start your experiential financial education journey as early as yesterday!
Experiential financial education is one subject that you must keep leaning about from childhood to old age. You can never make decent money in life if all you know is how to spend money. Yes, some of us have a job and some of us may have a good business but your biggest limitation to earning more money is the depth of your financial education. Always remember that the more you understand money, the more of it you will make.