Personal finance (PF) ignorantly remains a taboo in families.

Hello and welcome. It has been a while since I last posted here. I definitely need to up my consistency at this posting game. I have felt reluctant to post because somehow Google denied my request for an AdSense license perhaps citing that I may have had content that sought to condone, downplay or profit from the Ukraine crisis. I have nothing to say or defend as I disagree with them. Keeping that aside, I just thought I share a little bit about personal finance with some of my consistent readers. I always share my thoughts in the hope that they can benefit someone or that someone might engage me in meaningful dialogue. 

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According to Investopedia: Personal finance is a term that covers managing your money as well as saving and investing. It encompasses budgeting, banking, insurance, mortgages, investments, and retirement, tax, and estate planning. The term often refers to the entire industry that provides financial services to individuals and households and advises them about financial and investment opportunities. 

Maybe that definition is too big for you as it use to be for me. The main takeaway is that PF has to do with managing your money properly by saving and investing some so the money multiplies for you. Generally, most families don't have this sort of conversation and if they do, it typically ends between the father and mother. However, this is a topic that should include kids from a very young age. When we were kids, we use to create a sort of safe box for saving some cash in the months leading up to Christmas. Of course, this was not money that multiplied but was just kept for spending on Christmas and New Year's day. I have had the privilege of managing my parent's bar and being a part of the value creation and money from agricultural produce. However, the area of taxes was not something I was taught, or perhaps I never paid enough attention. What's your own money history like? I bet yours was just as fun as mine haha

The key issue with personal finance I believe is the ability in managing the money you have in a way that secures you from the several financial problems that tend to arise quite often. This is where the taboo comes in because it involves investing and using that money you have to create other income sources. Investing is a topic most people aren't familiar with. It requires studying and devoting time and energy to doing it right. I believe this is where the problem usually lies due to the fact that the input required into getting this investment going can usually take a toll on any relationship. You can start to hear people say: all you care about is money, you are neglecting the family, etc. These can even be worse if you get some investments wrong and it causes you or your family to go broke. I bet these are some of the things that make this topic of PF come off as taboo.

One other major reason I find is that the school system has not been designed to stimulate people into the habit of getting to know about their finances. I for one never learned anything about it in 27 years of schooling. All that I have learned has been from reading books and watching videos. And I speak from experience because I have had some serious losses and some good gains as well. I once asked myself why in all my education, I never even got the chance to take a course (if at all the course was offered) about doing my taxes, rent and mortgages, investment plans, etc. Why was the subject of entrepreneurship only promoted in the last decade? This hasn't been peculiar only to my country but it's everywhere. We are so sucked into this idea of going to school and getting a job and paying back your salary to the government in taxes and inflation. This seems so normal that everyone has accepted it and you appear odd to talk or think otherwise. Meanwhile, if you try doing otherwise, you find that the system itself is set up to stop you be it in the numerous bureaucracies, policies, and laws. A theory explaining why PF is not a part of school curriculums is that governments love to be in control of the masses. This is how politicians keep their jobs anyways. If the majority (poor and working class) could manage to get some form of financial freedom, they will have time, and with time comes curiosity as to why things are the way they are. This sort of awakening will make the government lose its grip on the people and politicians losing their votes and positions (A topic for another day). Maybe I am too utopic haha. Anyway, let's wrap this up.

This article is getting too long but I hope you're feeling me.  Let me wrap this up by saying, it's very essential that we involve our children as soon as they start to reason and explain to them how all these work. In order to do so, we ourselves must engage in a continuous learning process, because times are changing really fast and money, as we know, is changing too fast. What makes it worst is that instabilities in governments are increasing and the world order is changing meaning challenging times ahead as inequality grows with corporate greed. An extra source of income is very important even if it nets you just $100 a month. Never underestimate it. A job and a salary alone are not gonna cut it for the times ahead. Sorry if this sounds scary but that's right where we are headed. Scary times.

A wise man once said, "It is better to be prepared and not have an opportunity than to have an opportunity and not be prepared". 

Thank you for reading till this point and stay blessed. 

Positive-Man_jb