The First Step on the Path of Financial Literacy

This is our first step in the world of blogging. A place where thousands, if not millions of people are writing about something that they learn, or something they are good at, or experienced in. 

Most of us have heard the saying: “A journey of a thousand miles begins with a single step.” Instead, I would say, “A journey of a thousand miles begins with a baby step.”

Robert Kiyosaki. Rich Dad’s Cashflow Quadrant

This is a journey, a journey of god knows how many steps. Our grasp on these initial steps towards the never-ending path of financial literacy is very small, a minute one, a drop in an endless ocean you can say. What we are doing is learning, along with educating others about the things we learn. What we know right now is very little, but hope to expand our knowledge (along with yours) steadily. This blog will cover everything related to the world of finance, be it the very basics, banking, business, investment, news, etc.

Financial knowledge/literacy is something that is never taught to us in school, college, or universities. Although Economics is a subject that TRIES to teach us the financial terms, but let’s face it when this subject was introduced in school, no one was really fascinated by it. All that’s given is complex definitions of terms, highly-intellectual examples that an average-Joe couldn’t comprehend. I have come across people who are in their 20’s and still don’t know your everyday banking terms, and I don’t blame them! There are teens out there who are afraid to talk about business, money-related terms with their peers in fear that they may lower their credibility in their eyes.

Parents and teachers believe that a student should score good marks, have excellent grades so that he/she can be successful in life, and compete with others to have financial stability. This mindset is erroneous, a step in the wrong direction you can say. Grades and marks don’t matter, EDUCATION matters. KNOWLEDGE is important, not what you score. This is the very basic fundamental idea that teachers and parents have to ‘learn’ about. What matters is your knowledge, your skills, your confidence in yourself, your ability to convey your message to others. In order to gain financial literacy, you have to also understand the difference between hardwork and smartwork. Smartwork ALWAYS beats hardwork, now don’t get me wrong here, hardwork is VERY important, but not as much as smartwork. Look around you, everyone is putting in hardwork, but are they really ‘working hard’ towards the smartwork part? This is where you have to excel, putting in the hardwork so that your smartwork takes over. As Apple used to say it in their slogan, “Think Different.” 

Our purpose for starting this blog is very simple, educate ourselves and help others educate THEMSELVES by reading our posts that we will try to structure in a very simple manner with not-so-complex examples and terms that will help people get familiar with the intricate world of business and finance.

Syed Fayzan
Syed Fayzan

Syed Fayzan is currently a student of Chemical Engineering at Mumbai University. He has hosted many communication and public speaking events as he loves to express his views on the importance of financial and soft skills. A lifelong learner, currently in pursuit of financial freedom as he tries to learn and educate others on the topic of financial literacy.

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