Financial Education - In crisis there is a greater lack of basic knowledge of financial economics

in Project HOPElast month

Since our childhood we have heard that money does not bring happiness, and with time we have realized that money produces such a similar sensation that we need to be a specialist to differentiate it, which is why financial health is a way to achieve emotional wellbeing through good financial management.

Source ( federalreservehistory )

It highlights how a good or bad financial management directly impacts the mental and even physical health of a person, on the other hand, the uncertainty caused by current events, such as the pandemic and the Ukraine war, are generating global economic instability and that scenario translates into stress and anxiety for millions of people.

Another reason for increased stress and anxiety in the population is the economy, it is added because if before the pandemic, one in five suffered from depression and anxiety, now the data shows that we are finding that they are one in three.

In this sense, it is considered that in these times of crisis there is a lack of basic knowledge of economics, where technology plays a fundamental role because the functionality of technological applications brings society closer to basic principles of personal economic management and financial culture.

Source ( blogs.lse )

The usability of the applications makes it possible to visualize, at any time of the day, the movements of the account and categorize them. But also, to ask the bank for forecasts of receipts, as well as functionalities to meet spending or savings goals.

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The issue with many people is that they actually want to achive financial Freedom but they are not actually ready to pay the sacrifice and this is where the financial education comes in actually

"Wow, what a thought-provoking post! 😊 I couldn't agree more about the importance of financial health in achieving emotional wellbeing. It's amazing how our childhood tales about money not bringing happiness have turned into a reality where good or bad financial management directly impacts our mental and physical health. 💡 The pandemic and Ukraine war have certainly added to the stress and anxiety levels, making it even more crucial to understand basic economics and personal economic management. 🤝 I love how technology is playing a key role in bridging this knowledge gap! It's great to see apps that help us visualize our finances, set goals, and even ask banks for forecasts. 💸

What are your thoughts on financial literacy? Have you ever used any of these modern tools to manage your finances? Let's discuss! 💬 And if you're not already voting for the amazing @xpilar.witness, please take a moment to do so by heading over to https://steemitwallet.com/~witnesses. Your support means the world to us and helps us continue contributing to the Steem community's growth 🙏"

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