Is India Financially Literate?

Is India Financially Literate?

It's not wise to be Hypernationalist in order to justify the truth. Even 5% of the our citizens aren't financially literate.

I mean the basics. Keep aside the stock market.

As a matter of fact, most people investing in stock markets and crypto currencies are playing the trial and error game.

Becoming rich quickly is a matter of luck (which of course comes with hard work and risks). But if you take a closer look, making money isn't the issue, but the following are:

- Managing your money.

-Necessities over luxury.

- Savings over expenditure.

- Diversifying your investment.

- Understanding various investing platforms and strategies.

- Risk Management.

- Creating multiple sources of income.

- Lack of patience in Building wealth.

- Greed to make quick money.

- Not understanding the tax structure of the Nation.

What was missing?

Financial Education: This is the level of education not found in our school system. This is the education of the future. Again, we advise kids to go to school to get a job and work for money, yet we teach then little or nothing about money. The statistics tell a sad and sobering story: While 90 percent of students want to learn more about money, 80 percent of teachers do not feel comfortable teaching the subject. Someday, financial education will be part of the curriculum of all schools, but not in the near future.

It's not hard. It's not rocket science. Trust me. All you need is patience and the eagerness to learn a little everyday.

And whenever you feel you are stuck, my DM's are always open.