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Which books? I didn't learn to drive a car by reading books: I paid for lessons. I wouldn't learn brain surgery by reading books, I'd go to medical school. A r
by ezyang 16y ago
Which books? I didn't learn to drive a car by reading books: I paid for lessons. I wouldn't learn brain surgery by reading books, I'd go to medical school.
A rephrasing of this question: what level of financial literacy can a person reasonably expect to attain by just applying "common sense", and what is the baseline level of financial literacy that we should strive for?
- djm 16y agoWell, OK, I just chucked a few examples out there without thinking them through. In retrospect I don't think you'd learn to code much just by reading books either. What I wanted to say was that to learn about managing your finances you need to take an active role in learning how things work - whether by reading books, going on a course, whatever. As a base level of financial literacy I don't think people need that much to make a big difference in their lives. Teach people budgeting, how to track their spending, and a basic understanding of savings and credit interest rates/compound growth etc. Teaching people to live within their means and use credit for "needs" instead of "wants" will be one of the hardest lessons to impart. I don't know how you'd accomplish that.