7 Benefits of Financial Literacy for New Zealand

7 Benefits of Financial Literacy for New Zealand

7 Benefits of Financial Literacy for New Zealand

More than one in three New Zealanders is either struggling or just getting by. We believe that having a financial plan will help every day kiwis become financially stable and obtain a confidence to deal with finances they otherwise would shy away from. Here are our 7 benefits of financial literacy.


1. Control your Future 

Finances can be so daunting it often may feel like you have no idea what is happening right now, let alone having a 10-year plan! Building your knowledge and skills in financial literacy, will give you the confidence to not only understand your present situation, but also control your future circumstances effectively.


2. Dodge Exploitation 

Feeling like you are on the backfoot of conversation when it comes to finances is never an easy pill to swallow, especially when it’s your finances are up for discussion. A mixture of big words and an unfamiliar language, can often leave you in a confused state, blurring your mind to make unwise financial decisions. Financial literacy will assist in providing an understanding about your rights, plans and benefits for financial management. Which in turn will protect you from frauds, schemes and scams.


3. Avoid Crazy Debt 

Payday is a short-lived joy as money leaves your account faster than it came in. Debt and failed payments are an uncomfortable situation to be living in. That dreadful place of continuously on the catch up like a mouse trapped on a rat wheel, that you can’t seem to get off. Financial literacy will help give you that room to breathe and avoid that constant stress hounding at your heels.


4.  Broaden Your Oppurtinities 

We often hear of stories where people are caged in a lifestyle, they feel they can never escape from, where their present is all life will ever be. Having a deep understanding of the financial world, will generally unveil new opportunities and present a new way of seeing your circumstances. Gaining this understanding is often empowering, which in turn will help lead you to new discoveries in business and investments. 


5. Stress-Free Management 

Less stress in life is a deal hard to turn away from. Sadly, finances and stress generally go hand in hand. Complicated numbers and juggling multiple figures, can be a head pounding task. Financial literacy aids in dissembling that mindset to be able to deal with finances in a productive, stress-free way.


6. You Have Authority 

There is always someone trying to tell you what is best for your life, smoothing over the fine print with all the great features and benefits that you can have if only you “sign here”.   With your education in financial literacy, you will be empowered to remove the unnecessary distractions and make wise decisions, that you can be sure of. Let’s be honest only you truly know what is best for you. 


7. Become an Inspiration 

Awesome! You have applied all you have learned and transformed how you look at and handle your finances. Extraordinarily enough it doesn’t have to stop with you. Humans gain the greatest fulfilment from helping others. Your story is now a testimony that can empower others and inspire them to share in the same benefits you have experienced. 

 

Want to learn more on how to add these benefits to your life click here, Financial Empowerment.



 

https://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=12035445