BASICS of FINANCE | Definition, Overview, Misconceptions and Improvements

BASICS of FINANCE | Definition, Overview, Misconceptions & Improvements

If the topic would have been BOLLYWOOD, I bet you guys would have carried better information, especially my female readers, if i would have come up with CRICKET, male readers would have better gossips & if POLITICS would have been the main ideology, then god forbidden, arguments, debates and conflicts would have been overflowing on my comment section. 

But what about finance, what is finance? Is it rocket science? Some will come up with words like, we aren’t multi-bagger, what the heck we're gonna do with it. Well, we are going to discuss all these delusions, and cover the introductory though really important aspects of finance. This blog will be an overview and a quick preamble to understand about its importance.

WHAT IS FINANCE?

The management of large amounts of money, especially by governments or large companies (source google), but is it really confined to large amounts of money, or large companies or just a government thing, take a pause and question yourself. And also, before we cover this aspect, ask yourself why do we need education? It's not mandatory that every parent should push their child to school even though they have to cut their expenses and manage the big bucks of schools?

“ Money is power ” but you know what’s more powerful, the Knowledge about money. Literacy rate of India is 77.7% as per 8/09/2020, but these all are the figures of book worms, may sound offending to some but the fact which cannot be ignored on any grounds is 77% of national wealth is held by only 10% of people in India. Why do 67% of people fail to comfort themselves, manage their expenses and bills & afford luxuries. 

The simple and very straightforward answer to this is lack of financial knowledge. We all earn money, but not all have the proper way to SAVE, SPEND and INVEST. The money you earn is not the reason you are not financially stable, but the way you spended it is. BILL GATES quoted once “If you are born Poor its not your mistake, but if you die Poor its your mistake”

FALLACY OF FINANCE 

The biggest fallacy which comes into light when we talk about finance and its knowledge is lack of MONEY, we earn just to manage the needs, it's not our cup of tea or we are students we don’t have enough money and many more. But you know what, the knowledge of it will open the door to manage and grow whatever you have at present. The 10% of people hold 77% of national income just because of the tool of knowledge where we fail to take a stand.

The second and most highlighted delusion is TIME, assignments are pending, project deadline's approaching, household chores are all day tasks but is it that tedious that we all pretend to. Don't we spend time while streaming new web series, or T.V. serials. It became a NATIONAL TALK, why kattappa killed bahubali, but how tax systems work, how stock market work or what is IPO, is not even a point of discussion in our group.

Lack of SOURCE is yet on the top of the list, study says over 500 Million people use smartphones in India out of 1366 Million. Yet ENTERTAINMENT, GAMING, BEAUTY & FASHION are the top three hunted content on YouTube, weird right, don't have money to buy internet, time to stream, source to go through yet these three are in top list. 

Don’t lie to yourself, it's all about the priorities & importance. This one is especially to my female reader, “FINANCE DON’T HAVE ANY GENDER”, it's not a male thing, learn to manage your expenses at your strength. 

So, my fond people, know well EDUCATION AND FINANCIAL EDUCATION are two different courses and both are important for the well functioning of life. MONEY is temporary, KNOWLEDGE is permanent. Everything is a game of PRIORITIES and IMPORTANCE. Knowledge has NO GENDER. Let me know in the comments below, what’s your call to FINANCE & IT’S KNOWLEDGE. 

Regards - BLOGTANSY

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