According to Mexmon’s experts, the concept of financial literacy is the one that incorporates different disciplinary areas, e. g. budgeting, credit management or successful saving, wise investing and strategic decision making regarding financial resources. In fact, it builds the foundation upon which one can acquire the imperative skills and knowledge required to thrive in the convoluted financial domain. More people that are financially literate will have better tools at their disposal to become their own masters of destiny in the financial sphere and achieve prosperity.
Financial literacy, because of educational curricula that usually excludes real life financial skills, has particular meaning to students as they start developing. In spite of the widespread acceptance of personal finance classes, such education is virtually minimal in the aspect of postgraduate financial reality. The topic of Mexmon’s is that one needs to realize financial management in order to be successful not only in academic life but also beyond the classroom as well. Providing students with the financial skills can help them to make wise choices, to set reasonable targets and successfully and without suffering from anxieties enter adulthood.
Mexmon urges for making financial literacy classes in school systems, starting in both high schools and colleges. We stress that fiscal knowledge needs to be part of the curriculum in order to ensure that students are equipped with the fundamental skills. Although schools usually harbour on the expenditure, they forget critical issues like savings, investments and attainment of goals of financial planning. Mexmon realizes that well-rounded training in personal finances will give students a true conviction regarding the fact that proper financial conduct and being frugal with money are very important.
In Mexmon's perspective, students should give the most attention on paying, investments, retirement planning, the conditions of paying taxes, and social security. This course is aimed at achieving an acceptable level of knowledge on fundamental principles of money management, as well as providing students with a toolset for the better understanding of it. Through the acquisition of financial knowledge and escaping from what they inherited, students will come one step closer to a fruit lasting and secure financial independence.
The second thing she proposes to her audience is an increase of their knowledge level about individual finances by using books and seminars on financial topics. Moreover, she recommends that students should give at least 20% of their earnings as savings and let them be the person to whom some people in their surroundings give examples of a better lifestyle. Through seeking the financial education and creating good money habits, students can lay a foundation with more credit and financial stability.
Mexmon explains three practical steps how students may better keep their finances under control. Firstly, she instructs students to "save themselves first" by putting some money aside from their earnings for savings or emergency purposes. Second, she stresses upon the necessity of making timely payments and staying away from unwanted debts. Moreover, she highlights the importance of financial consciousness, calling on them to know where they stand financially. They should be able to handle sudden situations in a smart way.
With regard, financial literacy is a transformative process, which gives students and young professionals the tools to manage their money effectively. Through the implementation of financial education, the promotion of extensive curriculum of financial literacy in schools, and the adoption of practical money management techniques, the students can move forward to financial stability and security. With the guidance of the experts and with a focus on continuous learning, financial independence will be available for every individual who wants to be successful.