Financial Literacy? - Sanatan Goyal

 Well, as I write this blog, I am currently working on a little project that encapsulates the essence of Financial Literacy. In the modern world, unfortunately, there is a lot less than needed deliberation available on financial literacy in imperative institutions such as schools, clubs etc. However, observing the increasing incidence into the realm of stock market, cryptocurrency, digital works like NFTs, the need for this topic becomes extremely imperative.

Even though this sounds extremely mainstream in the current sphere of time, but I believe that it is being approached in the wrong way. The way most people approach "Financial Literacy" is merely explaining myriad different terms related to it. Credit, Loans, Collateral, Investment Banks, Mutual Funds, Bear Market, Bull Market, Capital, etc etc. Personally, I dont believe that throwing all such terms at a person is not called "Financial Education". 

    In fact, such huge bundles of pure information intimidates and frustrates the recipient of the so-called "Financial Education". It might cause him to refrain from future pursuits into this wide ocean called Financial Literacy. He might be doing a huge dis-service to himself doing that, ultimately defeating the sheer purpose of "Financial Literacy". 

The way I would like to approach it and would recommend everyone to approach it is to first find from where you would like to start your exploration into the realm of "Financial Literacy". What persuaded you to get up and dive into this ocean? Once you find that starting point, just go deeper and the magic of self study is that you would find yourself to be learning what you actually want and need to learn instead of mindlessly memorizing all those terms which you may never even come across in your financial journey.

    Hence, learning only what you are supposed do, you would be having a time of your life, venturing into this world making your own path and actually using it in your practical life, which is the whole point of this education.

The main reason why Financial Literacy has turned into a buzz word is due to the hype about it. Financial Literacy is often unnecessarily complicated throwing extreme words of the subject which I believe is actually a very very very bad thing. This is because those people inflict a conscious difference in their way of speaking when talking about this topic, you know, like in order to sound "cool", but that is just stopping a ton of people from gaining this knowledge. If you can't explain a topic to a 3 year old child in the most simplest choice of words, you are delusional thinking that you carry expertise in that topic.

Hence, simple words, simple terms, learn what made you venture into this world and go deeper, and dont complicate it while talking about it, that, my friend, is how you approach Financial Literacy.

- Sanatan Goyal