Many adults around the world struggle to perform basic financial calculations and understand how investment works studies show. Personal financial advice platform Fin.Tips is backing calls to boost financial education around the world and help individuals and families get a better grasp on their money and how they can make it work for them.
An OECD study of 30 countries worldwide suggested that adults have low levels of financial knowledge and attitudes that focus on the short-term but a better understanding could improve their financial security. Scores that assessed financial literacy by combining knowledge, attitudes and behaviours found that across all OECD countries, which includes the UK and US, financial education is relatively low, scoring 13.7 out of a possible 21. Budgeting, planning ahead and choosing products were found to be the areas that individuals particularly struggled with.
Ben Ortegon, a binary options trader and financial consultant and Fin.Tips contributor, said, “Finance should form part of core education across the world as it’s vital for financial security and understanding how to plan ahead for important life milestones. Many adults around the world mistakenly believe that finance is complicated but it doesn’t have to be and once they get the hang of it they can use their new-found knowledge to build a secure financial future and even begin to invest their money to generate additional income.”
Fin.Tips is backing the call to improve financial education and aims to act as a portal of information for those seeking to learn more and benefit as a result. The site is full of useful content for beginners that explains complex financial terms and strategies in a way that people new to finance can understand. Through boosting their understanding, Fin.Tips aims to help people master their own money and gain financial freedom. From tips on how to reduce personal spending to explaining the difference between hedge funds and mutual funds, Fin.Tips is a destination for anyone that wants to improve their financial standing.
To find out more visit http://fin.tips/.
Fin.Tips is the destination for individuals looking for the latest tips on personal finance, retirement, investing in stock and bonds, mutual funds and hedge funds, Forex and commodities. Fin.Tips is a site that helps beginners master their personal finance.