Ask yourself this question: how much do you truly know about finance, in general? Yes, you may be able to save money effectively and you understand the importance of making frugal purchases so that your bank account doesn\'t take a tremendous brunt. However, if you were quizzed on a number of financial topics, how well do you think you\'d do compared to other people? Here are a couple of shockingly knowledgeable tips that Bobby Jain could bring to your attention and they may just open a few eyes.
Wales Online published a story in regards to a number of questions set at a GSCE standard. Basically, this entails queries that are associated with the General Certification of Secondary Education, an accolade that is given to 14 to 16-year-olds that passed secondary education in Wales and Ireland alike. With this in mind, shouldn\'t those who are older have a clear understanding of what the answers to these questions are? On paper, it makes sense, but this does not necessarily mean that it will translate in regards to execution.
The report also detailed that 2,000 adults were given these types of questions by the Open University Business School. The questions themselves required adults to figure out which savings accounts paid what, the levels of income tax associated with said accounts, and others. After all seven multiple choice answers were accounted for, it was seen that around 41% of these adults could not actually come up with the right answers. It\'s a point that many financial authorities, Bob Jain included, should make it a point to focus on.
It goes without saying that finance is a crucial topic for many adults, so the fact that certain questions couldn\'t be answered is concerning, to say the least. Teenagers can answer these types of questions correctly, so what does it say when adults struggle to answer these queries that are on a GSCE level? On one hand, it\'s pretty comforting, since Bobby Jain can rationalize that teenagers are becoming more knowledgeable on a topic that will matter tremendously later on. However, according to names the likes of Jain, many adults should be more knowledgeable about this.
To say the least, it\'s important to financial experts to understand this field so that they can help others. Clients may require help and this is where the knowledge of the experts in question can come into play, whether it is determining the money that they owe to certain parties or another subject entirely. Is it possible that classes can be taken in order to give adults a better understanding of this topic? In my view, if adults are willing to learn, they could prove to be especially useful.
