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<h1> My Relationship With Money </h1>

I regularly listen to a podcast by Ankur Warikoo, a well-known Youtuber in India. In every episode, he asks the same first question to every guest - "What was your relationship with [money](https://leofinance.io/posts/@leoglossary/leoglossary-money) since childhood?" Before we move ahead, I will share my personal story with all of you. 

Growing up, I lived in a household where the phrase "money doesn't grow on trees" was as common as cereal for breakfast. My single mom worked tirelessly to provide for me and my sibling, juggling multiple jobs to make ends meet. Despite her best efforts, we often experienced the pinch of living paycheck to paycheck. We lived in a rented [property](https://leofinance.io/posts/@leoglossary/leoglossary-real-estate) until our great grand 'society' pressured her to buy her own [house](https://leofinance.io/posts/@leoglossary/leoglossary-real-estate). So she put all her life savings into buying one. 

She wasn't a miser but a cautious spender and that was a great thing about her. We went to one of the best government schools and got the best education while she was out there hustling. Since she wasn't that well versed with [finances](https://leofinance.io/@leoglossary/leoglossary-finance) and didn't really involve us in money matters, we didn't learn anything directly from her. I remember the frustration in her eyes every time a bill arrived, and the relief when she could finally pay it off. But she never tried to express those emotions in front of us. 

Now that I am a father myself, I understand her part. She didn't want to burden us with the real-world problems. What's important here is that, although we faced financial struggles, my mother's love and determination made our lives rich in ways that money could never measure. We didn't have the latest gadgets or go on fancy vacations, but we had each other – and that's what mattered most. 

This experience taught me the value of resilience and the importance of financial education, lessons that I've carried with me throughout my life. Schools didn't teach me shit. Real-world hardships did. 

<h1> Schools Need To Upgrade </h1> 

Now, let's take a moment to ponder this burning question: Why, oh why, do our schools neglect to teach us about money management? 😂 They had one job. xD It's a baffling conundrum, considering the enormous impact that finances have on our lives. Schools teach us about the Pythagorean theorem, the life cycle of a frog, and the causes of World War II, but when it comes to managing our personal [finances](https://leofinance.io/@leoglossary/leoglossary-finance), we're left high and dry. 

<h1> What They Didn't Teach You </h1>

It's time for a change, my frens. Schools must upgrade their curriculum and empower the next generation with financial literacy. But they most probably won't. That's why your finance bro is here today. Here's the list of things schools didn't teach you: 

<h3> The Power of Budgeting </h3>

Instant gratification rules these days. Learning to [budget](https://leofinance.io/@leoglossary/leoglossary-budgeting) is more important than ever. Budgeting isn't just about limiting your spending; it's about taking control of your finances and mapping out a plan for your future. Delayed gratification is the key. Schools need to teach students how to create and stick to a budget, enabling them to make wise financial choices that set them up for success.

<h3> The Power of Compound Interest </h3> 

Remember that one math class where your teacher briefly mentioned [compound interest](https://leofinance.io/@leoglossary/leoglossary-compound-interest), and you thought, "When will I ever use this?". I have thought the same multiple times in my life. 😂 Well, surprise surprise! Compound interest is actually a game changer in the world of finance. It's aka the eighth wonder of the world. It's the secret sauce that turns your savings into a money-making machine. Understanding compound interest is vital in making informed decisions about saving, [investing](https://leofinance.io/posts/@leoglossary/leoglossary-investment), and borrowing.

<h3> The Credit Conundrum </h3> 

Ah, credit – the double-edged sword that can make or break your financial future. I have been fked by credit cards and debt too many times. Not anymore! A good [credit](https://leofinance.io/@leoglossary/leoglossary-credit) score can unlock doors, while a bad one can slam them shut. Yet, most of us graduate without a clue about how credit works or how to build and maintain a healthy score. Everyone didn't have paisabazzar back then otherwise things would have been much different. It's high time schools demystify the credit conundrum and teach students how to navigate the world of borrowing responsibly.

<h3> Building Wealth For The Future </h3> 
Investing used to seem like a daunting task to me, but I realized that it's crucial for building long-term [wealth](https://leofinance.io/@leoglossary/leoglossary-wealth) & [assets](https://leofinance.io/posts/@leoglossary/leoglossary-asset). And it doesn't have to be too complicated. Schools should introduce basic investing concepts, such as [stocks](https://leofinance.io/posts/@leoglossary/leoglossary-stocks), [bonds](https://leofinance.io/posts/@leoglossary/leoglossary-bond), mutual funds, ETFs, crypto, and more so students can start growing their nest egg early. After all, the earlier you start, the more time your money has to grow. Just imagine if you started 10 years ago. Would have created a massive empire by now.

<h3> Financial Safety Net </h3> 

Life is unpredictable, and unexpected expenses can throw a dump into the best-laid financial plans. 💩 That's where emergency funds come into play. Schools need to emphasize the importance of having a financial safety net and teach students how to build one. An emergency fund can mean the difference between weathering a financial storm and sinking into [debt](https://leofinance.io/posts/@leoglossary/leoglossary-debt). The choice is yours! 

<h3> Taxes: The Unavoidable Truth </h3>

No one enjoys paying taxes, at least I don't. But they're a fact of life. 😭 Understanding how taxes work and how to file them correctly can save you a world of headaches (and potentially, money) down the road. Schools should provide students with a basic understanding of taxes, so they can become responsible, informed citizens who know their rights and obligations.

<h1> Conclusion </h1>

In a world where financial decisions can make or break our futures, it's vital that we equip ourselves with the right knowledge and tools to thrive. Read books, watch youtube videos from personal finance experts, and take courses on investing and wealth making. Do whatever it takes but don't repeat the mistakes of our parents. Taking control of our financial destinies and building a brighter future for ourselves should be our top priority.

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<center><sub>Not financial advice. For infotainment purposes only.</sub></center> 

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