How are you doing financially? Do you think you are doing well financially? If so, that can only be a good thing. Many people just say they are not financially well off, only to realize upon closer examination that they are financially well off. All people have to do is know how to manage their money. There are really very few people who know how to manage their money. Unfortunately, they spend their paychecks as soon as they get them and buy whatever they want. And in the last three weeks before payday, for example, they have no money. You know those TV shows where the wives swap and sometimes argue about not having enough money to run the household.
For people to be able to think financially as well, they need financial literacy, financial literacy. For example, financial literacy should be taught to children in the fifth grade or so. This means that children should know how to save and how to handle finance. This is really complicated, and if people knew how to manage their money from an early age, I don\’t think we would have as many people in debt. So I think people should learn as much as they can. It\’s also a good idea to go to a school or a course that teaches you how to think financially.
If someone asks me if I am good at finances, I will say, “Yes, I am. I mean, I\’m good at saving money, and I don\’t take particularly big money. Not at all. I have an average salary, but I can save money from it. I think everyone should set aside at least 10 percent of their salary for emergencies. You might lose your main income, you might get laid off, or you might have an accident and not be able to go to work for a while. So having some money set aside is always a good idea. I don\’t know anyone who has ever told me that I don\’t need to have any reserves. I know that money is important, but I also know that money is not everything.