The simple definition of financial education is- gentle use of money and making effective decisions about money like- where to invest, where to save, or how to spend the money properly. It's an easy way.

But most of the person doesn't have a proper financial education. Yeah, most people know how to save money, how to make permanent assets, but I will say that they don't have a proper financial education. Because- buying a home or flat is a stable asset for a man, it is reasonable and easy thinking. But if that particular person doesn't have any secure money investing sector, then this is not an effective decision for spending money. And Buying a home means responsibility. To perform this responsibility, you need more money. That means that a particular man has no financial education; preferably, he just has a common idea that he needs to save money to buy a home.

Why did we need to know financial education is essential?

• Probably you have an idea about bank loans. In the present time, banks are offering education loans, marriage loans, home loans, and other loans. These loans are obviously a comfort zone for the middle to the low-class family, but credits are not for free! You have to pay high interest in this. Except for the investment, you have to pay for other bank-related formalities. Isn't it a burden for a middle or low-class family? It is. But if a person has proper financial education, then he will save more than 60% money before buying a home, and then he could think about the bank loans. It will save his money. And he can invest it in any potential sectors or business.

• If you're financially educated, then you can distinguish your actual need. You can surely make a world tour from your savings, but if you travel by taking a loan, then it's your luxury! The actual financial education is 'inner happiness.' If you take a loan, you have to pay 'monthly installment,' and your travel will not that much relaxing rather will create mental pressure.

Now you can say to me, "I can afford."

Yeah, you are affording both mental pain and pleasure at the same time. Don't forget that.

Here, a financially educated person will make a 3-days tour in the nearest country which he can afford comfortably, and for a big trip, he will make a plan at least two months ago before traveling.

• Another essential benefit is - It will help you to make wise decisions in any financial problem. As this education teaches us the actual value of money, it helps to feel us that money is just some papers which are only for to slove basic needs, it is not life rather its a part of life. When you have a realistic approach, then problem-solving will be more comfortable.

Along with mental happiness, financial education is an inner motivation to earn financial solvency, and it helps to control thyself to do extra expense rather than influence you to make a productive investment in any profitable sector.

The ratio of financially educated people

After discussing the benefits now, let's see the percentage of financially educated persons in a society. You will be disappointed to know the rate. S&P survey says that more than 75% of Indian male adults don't know what the primary financial idea is. And more than 80% of women have no concept of finance. Like India, every society has these differences. For this educational gap, many countries are facing a financial crisis, and we, ordinary people, are equally sufferers and the reason for suffering.

To avoid this type of problem, government and higher authorities should add this topic in academic books so children can learn this from their adulthood and can apply appropriately. A survey of Ipsos said that financial education should be added to the school's academic book of America.

What's can be our duty

If we start to save money, maintain an emergency fund for any difficulty, try to finish our debt fist, best use of our credit cards, avoid several bank loans, and separate what the need and what is excess, then we will be benefited.

Conclusion

I have saved the disadvantages part for the ending section as the advantages are more effective and powerful than disadvantages. As the social and financial problems are enormous, and a combined effort is needed to solve the issues. As all people's childhood, family history, attitude, educations are not the same and problems are different too! So, it's hard to ensure one secured umbrella under all. But we should believe in positive things to survive, and we should practice this technical skill.