Today's families face major financial challenges; they are being forced to downsize their goals and dreams to settle for less. My passion is to show people how they can change their lives by getting the protection they need, invest for the future and get out of debt. We teach families fundamental financial principles with an opportunity to build a business and transform their lives. I have a diploma in Civil Engineering as well as being a fully licensed agent working for Primerica Financial Services Company of Canada. If you have questions or wish to contact Trevor, you can email him at firstname.lastname@example.org
Why Learning Finance is personally important
By Trevor Butt
Personal Finance is one of the most important aspects of your life, although not exciting to most, personal finance directly relates to your daily life. Personal finance by definition is how you manage your money. But what is money really?
Edmonton - July 18, 2012 - Personal Finance is one of the most important aspects of your life, although not exciting to most, personal finance directly relates to your daily life.
Personal finance by definition is how you manage your money. But what is money really? Below is my interpretation of what money truly is.
Money = Freedom = Choice = Ability to Fulfill Your Dreams
Just like a company, we all need money. We need money to live (food, clothing, and shelter) and we probably want money for a great number of things (concert tickets, cars, computers, etc.). The important thing to realize is that money affects how you lead your life. If you don’t have money you can’t do many of the things you want in life. Money is simply a tool that gives you choice along the way.
Without learning personal finance, you will lead a completely different life than someone with personal finance knowledge. Living paycheck to paycheck is a common trait of those who do not have personal finance knowledge. Learning about personal finance gives you the knowledge and understanding to make smart money choices. Thus, you become more in control of your own life and are empowered to do the things that matter most to you. Money is power and learning personal finance will teach you how to become more powerful.
Compare the life of a 25 year old and of a 35 year old.
The 25 year old invests $2,000 a year until the age of 65
The 35 year old invests $2,000 a year until the age of 65
We’ll assume they both get the same rate of return on their dollar, in this example we’ll use 8%.
Where will each of them be when they reach the age of 65?
The 25 year old has: $518,113
The 35 year old has: $226,566
The difference is $291,547.
The only difference is the 25 year old started investing 10 years earlier and invested $20,000 more. However, that difference made him more than twice that of the 35 year old.
In this instance the knowledge of investing young was worth $291,547. This is only one example of the many lessons personal finance will teach you. Learning about personal finances will give you freedom in your life and the ability to accomplish your dreams.
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