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There should be more classes on financial awareness. Most business experts assert that financial awareness is one of the most important concepts both children and adults need to learn. This training should begin immediately, with no age restrictions, as financial awareness is what determines economic success in the form of independence and accountability.
If one were to look at the major personal financial challenges, lack of funds, bad credit, and poor accounting are the most common. There are, of course, unforeseen circumstances leading to these that must be acknowledged: a sudden death, global recession, etc., but these are few and far between. For the most part, these challenges are preventable outcomes given proper training and diligence.
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In the financial world, it is not true that everyone is born equal. Depending on parentage and background, an individual may be born into debt (quite literally). Nevertheless, everyone has equal opportunity to remedy their financial situations. This begins with a proper understanding of finance or developing financial awareness. Different strategies can be applied in order to get out of debt (if ever) or simply maintain a proper standing among banking institutions. This helps when applying for a bank loan or credit card.
The goal of financial awareness is achieving economic independence. This is determined when one is in full control of spending and can easily see where funds are being allocated.
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