How's Your Financial Literacy?
@jrlcentral (2605)
Roxas, Philippines
September 24, 2015 4:15am CST
Do you know how money works?
On a scale of 1 to 5 - 5 being the highest I rate my PERSONAL financial literacy to about 3.
Though financial literacy was never taught in schools, I have educated myself on this field by reading books and viewing videos about this subject matter. That's how I learned and started investing in the stock market.
How about you? What's your financial literacy? And why if you may.
3 people like this
4 responses
@skysnap (20152)
•
24 Sep 15
I'd say 3. Though I don't understand much of technical jargon in the financial world. I cna manage finances just fine. I know there are many things that are not even in the same each year. I try to manage my finances and taxes and also learn about new inevstment. this way i can keep on changing and don't mind wasting money in wrong resources.
2 people like this
@jrlcentral (2605)
• Roxas, Philippines
24 Sep 15
Well, they say failing is a great part of learning. Sometimes, failing also means loosing some money. But it doesn't it was totally wasted. They say every failure brings new lessons.
:D
@skysnap (20152)
•
24 Sep 15
@jrlcentral well i have not much money to waste on equity and other sources don't have to be dried in the mean time. so I am spending the money in right sources.
@jrlcentral (2605)
• Roxas, Philippines
24 Sep 15
@skysnap well.. same here, I don't have much money. It so happens that I have a good "mentor" in the stock market.
@Kchitij2007 (445)
• Pune, India
24 Sep 15
Well it used to be a 1 or a 2 at best, but then I had to apply for a bank job (SBI) and compete with around 22,00,000 - 24,00,000 candidates so i updated myself on that front and now i can surely say- its a 4 atleast. Plus now that i have cleared it, i'm going to join it soon enough and probably reach a 5 along the way :)
1 person likes this
@jrlcentral (2605)
• Roxas, Philippines
24 Sep 15
Wow. That's great. I'm no banker, and don't even have an accounting background, I guess all I need to learn is how to manage my personal finances effectively.
Maybe I could learn from you a trick or two. :D
Thanks. :)
1 person likes this
@jrlcentral (2605)
• Roxas, Philippines
24 Sep 15
@Kchitij2007 Good thing I don't have a credit card. hehe. I'd rather have a debit card. Though my real estate property was mortgaged to finance a failed family business. And that's my problem. I started investing in the Philippine stock market, but what I don't have a life insurance yet.
1 person likes this
@Kchitij2007 (445)
• Pune, India
24 Sep 15
@jrlcentral yeah sure! just start practicing some good stuff like saving, fixed deposits, investing in retirement plans, investing in mutual funds ( only if u wanna go down that road ), always pay off credit card bills ( like always! credit card penalties will give u a heart burn to remember! ), try to find out what plans banks are offering in your city and country for tax free returns.
@SIMPLYD (90717)
• Philippines
30 Sep 15
@jrlcentral I am thinking of joining that Club first . Maybe i will invest a small initial one when December comes . 
@SIMPLYD (90717)
• Philippines
30 Sep 15
@jrlcentral Maybe you should start posting about how to try it on stocks exchange .
1 person likes this
@jrlcentral (2605)
• Roxas, Philippines
30 Sep 15
I'm still learning, but I have started investing as well. Not that I would recommend that you do that as well, I have a good mentor in this subject. Not a personal mentor but as a member of this particular site, I get daily updates on which stocks to buy and sell... and when.. just like these days, it's a great time to buy. :D
1 person likes this
@SHARINGPARTHA (172)
• New Delhi, India
24 Sep 15
I would rate myself between 3 and 3.5. However, I do understand that in the age of unlimited inflation, volatility, globalisation and consequent inter-dependence of economies of various countries, financial literacy is extremely important. It is essential to live a moderately comfortable life during prolonged twilight years after retirement.
@SHARINGPARTHA (172)
• New Delhi, India
24 Sep 15
@jrlcentral Same here in India. But there is some proposal to include financial literacy at higher levels in schools. But in a large and populous country like India, it would take at least another 10 years to completely include this in every Board's syllabus.
1 person likes this
@jrlcentral (2605)
• Roxas, Philippines
24 Sep 15
@SHARINGPARTHA well, at least there is a proposal to include it. That's a start.
1 person likes this
@jrlcentral (2605)
• Roxas, Philippines
24 Sep 15
That is true. I don't know in your country, but here in the Philippines, personal finance management is never taught in school. Generally, people here don't know how manage their finances properly, In the end, they find themselves buried in debts.. well that included me
