+91 70111 97831
  • About us
    • Data Analyst Team
    • Magazines Sections
    • Editorial Team
  • Advertise with us!
  • Business review
  • Guest writers
    • Guest Contribution
  • Subscription
  • Career
  • Testimonials
  • Contact us
  • Sitemap
Wednesday, March 22, 2023
International Magazine
Business Connect | Best Business magazine In India
Upcoming Event
  • News
    • All
    • Blog
    Realme C55 launches with iPhone-Like 'Dynamic Island' in India: Specs and Price

    Realme C55 launches with iPhone-Like ‘Dynamic Island’ in India: Specs and Price

    6.6 Magnitude Earthquake in Afghanistan Causes Strong Tremors in Delhi-NCR & Other Parts; Results in 11 Fatalities

    6.6 Magnitude Earthquake in Afghanistan Causes Strong Tremors in Delhi-NCR & Other Parts; Results in 11 Fatalities

    Indian-Origin Laxman Narasimhan Takes Over as CEO of Starbucks

    Indian-Origin Laxman Narasimhan Takes Over as CEO of Starbucks

    Acer Nitro 5 Gaming Laptop brings AMD Ryzen 7000 Series to India: Price & Specifications

    Acer Nitro 5 Gaming Laptop brings AMD Ryzen 7000 Series to India: Price & Specifications

    Amritpal Singh Manhunt: Internet Services in Punjab to Remain suspended Till March 21

    Amritpal Singh Manhunt: Internet Services in Punjab to Remain suspended Till March 21

    Elon Musk Makes Headlines Again with Automatic Poop Emoji Response for Press Enquiries on Twitter

    Elon Musk Makes Headlines Again with Automatic Poop Emoji Response for Press Enquiries on Twitter

    Samsung expands its 5G smartphone lineup in India with Galaxy A54 and A34: Price, specs & more

    Samsung expands its 5G smartphone lineup in India with Galaxy A54 and A34: Price, specs & more

    PhonePe Secures Additional $200 Million Funding from Walmart to Fuel Expansion Plans

    PhonePe Secures Additional $200 Million Funding from Walmart to Fuel Expansion Plans

    IPL Owners Eying ‘Major League Cricket’ 2023: CSK, MI, KKR & DC Set to Buy Teams in USA

    IPL Owners Eying ‘Major League Cricket’ 2023: CSK, MI, KKR & DC Set to Buy Teams in USA

  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Latest Edition
  • Launchpad
  • Blogs
  • Testimonials
No Result
View All Result
  • News
    • All
    • Blog
    Realme C55 launches with iPhone-Like 'Dynamic Island' in India: Specs and Price

    Realme C55 launches with iPhone-Like ‘Dynamic Island’ in India: Specs and Price

    6.6 Magnitude Earthquake in Afghanistan Causes Strong Tremors in Delhi-NCR & Other Parts; Results in 11 Fatalities

    6.6 Magnitude Earthquake in Afghanistan Causes Strong Tremors in Delhi-NCR & Other Parts; Results in 11 Fatalities

    Indian-Origin Laxman Narasimhan Takes Over as CEO of Starbucks

    Indian-Origin Laxman Narasimhan Takes Over as CEO of Starbucks

    Acer Nitro 5 Gaming Laptop brings AMD Ryzen 7000 Series to India: Price & Specifications

    Acer Nitro 5 Gaming Laptop brings AMD Ryzen 7000 Series to India: Price & Specifications

    Amritpal Singh Manhunt: Internet Services in Punjab to Remain suspended Till March 21

    Amritpal Singh Manhunt: Internet Services in Punjab to Remain suspended Till March 21

    Elon Musk Makes Headlines Again with Automatic Poop Emoji Response for Press Enquiries on Twitter

    Elon Musk Makes Headlines Again with Automatic Poop Emoji Response for Press Enquiries on Twitter

    Samsung expands its 5G smartphone lineup in India with Galaxy A54 and A34: Price, specs & more

    Samsung expands its 5G smartphone lineup in India with Galaxy A54 and A34: Price, specs & more

    PhonePe Secures Additional $200 Million Funding from Walmart to Fuel Expansion Plans

    PhonePe Secures Additional $200 Million Funding from Walmart to Fuel Expansion Plans

    IPL Owners Eying ‘Major League Cricket’ 2023: CSK, MI, KKR & DC Set to Buy Teams in USA

    IPL Owners Eying ‘Major League Cricket’ 2023: CSK, MI, KKR & DC Set to Buy Teams in USA

  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Latest Edition
  • Launchpad
  • Blogs
  • Testimonials
No Result
View All Result
Business Connect | Best Business magazine In India
No Result
View All Result
Home Blog

Deficiency Of financial Education – A national issue and how to get rid of it.

admin by admin
April 2, 2021
in Blog
Deficiency Of financial Education – A national issue and how to get rid of it.
Share on FacebookShare on Twitter

Deficiency Of financial Education – A national issue and how to get rid of it.

By – Anant Kumar

The majority of the population often aren’t able to afford a lifestyle that they dream of. Those who have a decent source of income, and have found a way to enhance their financial load, such as paying credit card bills, monthly home loan instalments, EMIs for luxurious utilities, etc.

RelatedPosts

Beyond the Clouds: Discovering the World’s 10 Tallest Buildings

What Are the Benefits of Social Media Listening for Businesses?

The Importance Of Digital Identity Management For Enterprises

As the burden becomes worse, it cripples abilities, and their close ones, to live with freedom. They abstain from developing themselves, following their passion, or upgrading new skills. In the end, their growth rate is being prevented due to budgetary pressure. The root cause of all this is having a deficiency of financial education.

Generally, people spend the first quarter of their life just for grabbing the highest degree and the later part, on making a living off the skills obtained from their education. However, nobody institute or college teaches us how to manage our earned money.

But you cannot just blame a single entity, this is a national issue.  We all – parents, the educational industry, and the government – must work together in this area.

What is financial education?
Financial education is “the ability to make a smart financial decision which results in fancied financial outcomes.” It is not about knowing the stack and complex financial concepts it is simple skills that make the right financial decisions regularly, such as educational loans, buying a home, financing a car, and saving for retirement, and ultimately become financially self-sustainable and independent.

What is a deficiency of financial education?
Not able to understand the basic financial principal like how to make money and let money to make money, budget planning to understand, how to become financially free, money negotiation, and manage financial risk.

Why is it national challenging?
Job crises in India have increased more than ever. It’s not that we don’t have ones, it is not because we don’t have any talents who are ready for jobs. According to UNICEF, more than 50% of Indian students and students from southeast Asia don’t have the required skill for getting a job. There is appositely no space left for mediocrity. If you were graduated in the 90s, you would still have a chance to get a decent job by showing your degree. But now it is quite a different situation.

Every year, India produces more than millions of engineers. According to employability assessment company data, 80% of Indian engineers are unemployed for a job. The problem isn’t limited to the engineering stream – it’s the same with other streams like commerce, arts, and medical. In the study, most of the students have lost their interests. As soon as youngsters hold an undergraduate degree, they are forced to take higher education and travel to foreign countries like the US, Europe, and Canada – This is their final destination.

Some parents take education loans for their children. In another way, students sign their indentured servitude. If they are blessed enough to find a job, they work years with some MNC, and by the time they are free, a passionate dancer becomes HR, a gifted singer becomes software engineer, and a great writer becomes a consultant.

A question always occurs, why do youngsters feel obliged to take a specific subject without having any interest in it? The answer is, their mindset of choosing the stream of education depends on money. From the first day of school, we are taught, complete a degree get a job, and earn a salary is the stared career template. A higher degree pays a higher salary. As soon they got a higher degree, the interest of an individual becomes unimportant.

People are willing to quit on their calling for the security of an unpleasant job. Well, there is nothing wrong with it. Choices can be made by an individual at any time. But the most concerning part is people don’t even know that they have dozens of options to make money and grow their finances.

It has dark truth that most youngsters of this generation are perpetually steered-out and worked very hard. They are struggling to manage their basic expenditure. This affects their mental well-being and happiness.

Another collateral damage of such learning for earning mindset is lack of employment. Students who don’t want to get involved in a stream of education are less likely to perform in it. Over time, they graduated in it, and naturally, the overall quality of our degree holders becomes substandard, and who would not prefer to employ such graduates?

Today, India badly needs those professionals who are skilled in their domains that can solve problems. Of course, we have thousands of them, but if our millennials are not utilizing education to sharpen their inherent set of skills, the outcome is just mass production of knuckleheads. The crisis is going on right now. Unemployment point finger toward education without the purpose of learning.

What is the solution? How can this be done on a personal level?
Youngsters must recognize a real passion and work on it to shape it; education should be considered as a tool for solutions.

It looks good in theory. But, what is the ground reality? it could be possible that people’s passion for the profession isn’t likely to pay their bill. Suppose that I am a good writer, nobody read a published book as of now. I am a developing comedian, but I can buy a decent lifestyle as of now. Does that strike a chord? Well, yes, it is a fair question. So, what are we supposed to do in such a case?

First, you should not make a bad investment of your time or money. Do not let yourself into snowballing debt just to get a degree. Your passion and source of making money could be different. You do not always need a degree to make money.

To lead a financially stress-free life, you need to start investments, both time and money. Educate yourself with some of the basic financial principles, such as how taxes work, find out more about the different industries, learn how to make money to work for you.

Although, financial illiteracy is a national issue. The government and we must make efforts to overcome the situation. The future will belong to talents – a talent honed by relevant education, motivated by passion, and supported by financial education.

Also Read:- Top 15 Emerging Jobs in 2021

 

Previous Post

Lakshadweep is introducing Cruise Ship Tourism.

Next Post

How to Start a Renewable Energy Business in India

Related Posts

Beyond the Clouds: Discovering the World's 10 Tallest Buildings
Blog

Beyond the Clouds: Discovering the World’s 10 Tallest Buildings

by admin
March 22, 2023

Beyond the Clouds: Discovering the World's 10 Tallest Buildings Written by Sanjay Kumar As cities around the world continue to grow...

What Are the Benefits of Social Media Listening for Businesses Business Connect | Best Business magazine In India
Blog

What Are the Benefits of Social Media Listening for Businesses?

by admin
March 20, 2023

What Are the Benefits of Social Media Listening for Businesses? The importance of social media as a marketing tool cannot be...

The Importance Of Digital Identity Management For Enterprises

The Importance Of Digital Identity Management For Enterprises

March 20, 2023
7 Strategies To Provide A Seamless Customer Service

7 Strategies To Provide A Seamless Customer Service

March 20, 2023
How To Use Local Marketing Strategies To Grow Your Business?

How To Use Local Marketing Strategies To Grow Your Business?

March 20, 2023
Next Post
How to Start a Renewable Energy Business in India

How to Start a Renewable Energy Business in India

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent News

Realme C55 launches with iPhone-Like 'Dynamic Island' in India: Specs and Price

Realme C55 launches with iPhone-Like ‘Dynamic Island’ in India: Specs and Price

March 22, 2023
6.6 Magnitude Earthquake in Afghanistan Causes Strong Tremors in Delhi-NCR & Other Parts; Results in 11 Fatalities

6.6 Magnitude Earthquake in Afghanistan Causes Strong Tremors in Delhi-NCR & Other Parts; Results in 11 Fatalities

March 22, 2023
Piyush Construction: Provider of quality construction services to revamp construction industry

Piyush Construction: Provider of quality construction services to revamp construction industry

March 22, 2023
Beyond the Clouds: Discovering the World's 10 Tallest Buildings

Beyond the Clouds: Discovering the World’s 10 Tallest Buildings

March 22, 2023

Recommended

Ways to Accelerate Your Business Growth in 2021| Expert Tips

4 Ways to Accelerate Your Business Growth in 2021

August 16, 2021
BinaryBoot | Business Connect

BinaryBoot

October 23, 2019

Most Popular

Realme C55 launches with iPhone-Like 'Dynamic Island' in India: Specs and Price
News

Realme C55 launches with iPhone-Like ‘Dynamic Island’ in India: Specs and Price

March 22, 2023
6.6 Magnitude Earthquake in Afghanistan Causes Strong Tremors in Delhi-NCR & Other Parts; Results in 11 Fatalities
News

6.6 Magnitude Earthquake in Afghanistan Causes Strong Tremors in Delhi-NCR & Other Parts; Results in 11 Fatalities

March 22, 2023
Piyush Construction: Provider of quality construction services to revamp construction industry
Guest Posts

Piyush Construction: Provider of quality construction services to revamp construction industry

March 22, 2023

Business Connect is a business magazine whose name is derived from Business Community which connects entrepreneurs, executive officers and VCs. With a mission to have one of the highest readership figures of senior-level executives and investors in India, Business Connect brings its edition on monthly basis.

Follow Us

Recent News

Realme C55 launches with iPhone-Like 'Dynamic Island' in India: Specs and Price

Realme C55 launches with iPhone-Like ‘Dynamic Island’ in India: Specs and Price

March 22, 2023
6.6 Magnitude Earthquake in Afghanistan Causes Strong Tremors in Delhi-NCR & Other Parts; Results in 11 Fatalities

6.6 Magnitude Earthquake in Afghanistan Causes Strong Tremors in Delhi-NCR & Other Parts; Results in 11 Fatalities

March 22, 2023

Contact Information

Address: 807, DDA 2, District Centre, Janakpuri West, New Delhi-110058

Phone Number: +91-11-41065208, 42636209

Mail: abhishek@businessconnectindia.in / events@businessconnectindia.in

Contact to Get Feature as Guest Post : info@businessconnectindia.in

  • About us
  • Why us
  • Healthcare
  • Guest writers
  • Career
  • Contact us

© 2020 All Rights Reserved by Business Connect India

No Result
View All Result
  • News
  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Latest Edition
  • Launchpad
  • Blogs
  • Testimonials

© 2020 All Rights Reserved by Business Connect India

Need Help? Chat with us
Start a Conversation
Hi! Click one of our member below to chat on Whatsapp
The team typically replies in a few minutes.
Ashish Kumar
Sales & Support