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Having conversations about money early and often will help you understand investments, 401-K plans, and savings

GREENSBORO, N.C. — Money talks but we don’t talk enough about money and that’s a key conversation you need to have in order to understand investments, 401K plans, and savings.  

Money expert Ja’Net Adams said not having a basic understanding of these things impacts three key aspects of life: education, corporate America, and society.

“Often when people hear the words financial literacy, they roll their eyes. I know some people do not understand why it’s important, but if there was more financial literacy in the United States, people would be much better off,” said Adams, who wrote the book, The Money Attractor.

Here’s Adams’ breakdown of how financial literacy applies to everyone.  

1. Education:

“Whether it is K-12 or higher education, real financial literacy is needed to improve lives and help new college graduates be in a better position to participate in the economy,” said Adams.  “There are also so many children that come to school hungry because there is not enough money at home to buy adequate food. What if some PTA meetings would have workshops on how to find more money in your everyday life so that parents could get tips on how to bring more money into their households. Or in high school, instead of talking about credit and how to buy a house you talk about something that matters such as how to find college scholarships so they won’t end up in student loan debt or the $1.7 trillion dollar crisis we have now.”

2. Corporate America:

“Corporate America doesn’t call it Financial Literacy, they call it Financial Wellness. They can call it what they want, but they are not doing enough of it,” said Adams.  “Over 70% of Americans live paycheck to paycheck (Forbes) which means 7 out of every 10 workers are worrying about money.  Financial Wellness at companies would show employees how to pay off debt quickly and save money so that the financial stress goes away. It is a win-win for everyone. The employee becomes financially stable and the company gets a productive employee who increases the profits of the organization.”

3. Society As A Whole:

Implementing real Financial Literacy in everyday life would definitely help society as a whole. If in K-12 it could lead to less financially stressed households and send more children to school who are focused and ready to learn. You would have more college graduates coming out of college and ready to buy homes and invest in their retirement. There would be fewer people on government programs because they would be able to financially support themselves and create the life they want. The list goes on and on. Financial Literacy is not a nice to have, but a need to have in order to improve the lives of hundreds of millions of people around the world!

Adams said as a society, people should be talking about money and financial literacy as early as 3 years old.

“Overall, we are getting to a place where we can no longer ignore the need for real and effective financial literacy!”

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