Learning and using knowledge to make sure you are not in trouble both are different things. It seems like the current generation is going through a tough time when it comes to learning personal finance. According to a recent survey of banks, it’s been found that recent grads have no explicit knowledge about personal finance. Despite getting education about various subjects, current generation is still missing to know about how private financing works.
A recent survey which took by banks shows that more than 50% of students who are aged in between 18-24 have agreed they don’t know much about personal finance. We are living in that period where it’s not that hard to earn money, but what’s hard is to save it. People don’t know the basics of investing and its great benefits in the future, which is a primary reason why so many students who have graduated are still troubling to find a better job.
One of the lead researchers of this study said that the current generation doesn’t know how to make sure that they are saving enough money for an emergency. Mastering personal financing is all about knowing how to save and invest your hard earned money so that you won’t have to worry about it in your hard times. But, it seems like many youngsters don’t know even the basics of personal financing. Researchers of this study said that universities and colleges need to include personal financing as a subject in their curriculum. Our education system has always got lots of criticism because there are many subjects in it which students do not need to study, yet they spend a considerable amount of time mugging up all that unnecessary stuff. It seems like millennials need to consider outside of their curriculum and should read some of the best personal finance books which are written to increase their wisdom.