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  • Carolina Pérez

"Financially not prepared"


I’ve listened to many people in the crypto community, telling others to get into crypto and invest or others advising to invest in traditional markets. The more and I read about crypto, and I'm excited about a massive adaptation towards a new monetary system. It's no secret the majority of people in crypto are there because they are a trader or holding crypto in hopes of a future bull market. I believe the discussion about mass adaptation is a lot less than the talk there is about the crypto market etc.


I’ve realized that most people don't really understand money or lack basic financial concepts. I look around, and very few people are investing in general. It’s hard to see people wanting to invest in crypto when they don’t know a thing about investments and even less about cryptocurrency.


How can you blame them?


The lack of financial education given to the average person is real. Years in school without learning about it and let's face it money plays a big roll on how your life will play out. You decide that you want to study, and depending on the career you choose, you may attend a financial course.

So, if they never taught us basic concepts of the market or money, how are we going to understand how it works?


People in the financial world at some point in their life felt the need to invest. Whether it was something passed down from your family, or you are one of those people that decided because something just clicked and started to do your research. Others have money and get someone to invest for them.


This is a reality:


A recent PhD told me his story: "Daniel, I'm 30 and I've been going to school for 25 years total. I never learned about money until I had to pay my debt. With my combined college and credit card debts, I'm paying a little over $2,000 per month. I thought my college degree would get me out of the rat race. Sure, I have a $100,000 per year job, but how can I ever have financial freedom?" – Business Insider


So where do we start?


Ideally, it would be a more significant impact to include these subjects in school. This way, when students graduate and are eligible credit, the banking world won't take them by surprise — aiming towards being able to make smart financial decisions. Knowing how money works and having knowledge about the financial system may give more people the chance to change their mindset and try out investing. Having this included in school education would be great, but harder to achieve. I believe it's essential for parents to start at home and for those who are in the financial world don't be greedy and share your knowledge and experience.


I hope you enjoyed it!


By: Carolina Pérez

Twitter: @carolinaninap

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