15 Subjects That Schools Fail to Teach

//A THREAD//

Number 13 is a must.
1. Compound Interest

It is said to be the 8th wonder of the world.

Young people should learn and take advantage of it.

For a 18 years old, it will take $228/mo to reach $1 million

For a 30 years old, it will take $556/mo.

Starting early makes a big difference.
2. Building good credit

Responsibly credit usage can put you in a good position to have a great credit score.

How do you build a credit score?

- Make regular payments on your loans
- Open credit lines
- Have varied credit usage
- Do not apply for multiple lines at once
3. Budget

A budget is viewed as a restrictive tool, but it is a plan that shows how your money is spent.

A budget is made of:

- Income: Salary
- Expenses: Rent or mortgage, housing bills, car insurance

A budget is a road map to reach your financial goals.
4. Debt

Young kids do not understand the consequence of debt.

After college, they want to enjoy their first income.

They get into debt and cannot save, invest, and have long-term goals.

Debt is can be an impediment to financial goals.
5. Paying yourself first

Building wealth requires sacrificing some pleasures for a better future.

This means to save (Emergency fund) and invest in ( IRAs, 401ks) before spending money.

This prepares you for current and future financial burdens.
6. Investing

Investing is the difference between success and failure.

Asset ownership is the way to create wealth.

Assets are:

- Index funds
- Real estate
- Business

Spreading assets protects from concentration risk.

Assets beat the inflation rate and provide great returns.
7. Credit Cards

Kids can see credit cards as free money.

Using them irresponsibly can mean debt is spiraling out of control.

Credit card abuse leads to

- Debt
- Paying interests
- Bankruptcy
- Living paycheck to paycheck
- Repossession

Avoid credit card debt at all costs.
8. Reading a bank statement

Many kids out of college cannot even read a bank statement.

Bank statements reconciliation helps with budgeting and catching fraudulent transactions.

Bank statements information include:

- Account summary
- Interest
- Fees
9. Buying A House and Mortgages

Mortgage eligibility starts with good credit. There are different types of loans with various options.

Not understanding this can be daunting.

Costs associated with mortgages:

- Principal
- Interests
- Taxes
- PMI (Private mortgage insurance)
10. Taxes

Taxes are part of our everyday lives. We deal with it more than we deal with Calculus.

It does not make sense not to know about them when we finish school.

A lack of understanding of how taxes work could result in serious financial problems.
11. Time management and discipline

Kids can't accomplish tasks within a certain deadline. Homeworks are done at the last minute.

This continues and results in major inefficiencies in life.

People lack discipline and procrastinate tasks that can change their lives.
12. How to learn by yourself

Schools promote getting good grades.

Many people struggle to learn new skills and apply knowledge to their personal lives after school.

Learning by yourself has a big upside. It can transform your life for the best.
13. Public speaking

Speaking in public is scary for many, but it is a crucial skill.

You need it for

- A job
- Making friends
- Presenting

At some point, you will have to be comfortable in front of people.

Having this skill can make a huge difference.
14. How to be sociable

Successful people network with other people. They leverage their network to get to their goals.

Benefits of Social Skills:

- Better communication
- Self-awareness
- Teamwork
- Emotional intelligence
- Listening skills

Your network is your net worth.
15. Mental health

1 in 5 people is struggling with a form of mental issue.

It is a $100 Billion industry in the US.

People suffer and have suicidal thoughts because of it.

Ignoring these issues lead to an unstable society.

More education on these issues is needed.
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More from @AccentInvesting

10 Nov
15 Subjects That Schools Fail to Teach

//A THREAD//

Number 13 is a must.
1. Compound Interest

It is said to be the 8th wonder of the world.

Young people should learn and take advantage of it.

For a 18 years old, it will take $228/mo to reach $1 million

For a 30 years old, it will take $556/mo.

Starting early makes a big difference.
2. Building good credit

Responsibly credit usage can put you in a good position to have a great credit score.

How do you build a credit score?

- Make regular payments on your loans
- Open credit lines
- Have varied credit usage
- Do not apply for multiple lines at once
Read 6 tweets
3 Nov
15 Rules of Success

// A THREAD //

You will be surprised by number 9.
1. Have a plan and a vision

If you do not know where you want to go, you cannot make any progress.

Life will always surprise you and you will not be excited about the future.

Have a target, a clear goal on which all your efforts are focused.

Planning is the key to success.
2. If you don’t ask the answer is No

Asking for help is not harmful. The worse that can happen is a "no".

There is nothing that you want to do that has not been done yet.

Ask for:

- Help
- Promotion
- Opinion
- Raise

You miss every opportunity you don’t go for.
Read 18 tweets
3 Nov
15 Rules of Success

// A THREAD //

You will be surprised by number 9.
1. Have a plan and a vision

If you do not know where you want to go, you cannot make any progress.

Life will always surprise you and you will not be excited about the future.

Have a target, a clear goal on which all your efforts are focused.

Planning is the key to success.
2. If you don’t ask the answer is No

Asking for help is not harmful. The worse that can happen is a "no".

There is nothing that you want to do that has not been done yet.

Ask for:

- Help
- Promotion
- Opinion
- Raise

You miss every opportunity you don’t go for.
Read 17 tweets
29 Oct
10 Ways You are Privileged if you live in a First-World Country.

//A THREAD//

You will be surprised by number 9.
1. Education

Education is for the rich. There are no scholarships or loans.

There is no future because good-paying jobs require a degree.

Starting a business is usually the avenue to make ends meet for those without an education.
2. Food

Food is a basic need in developed countries. It is a luxury in poor countries.

People's entire focus is to find food to feed their families.

In developed countries, you eat when it is time. In poor countries, you eat when you are hungry.
Read 13 tweets
29 Oct
10 Ways You are Privileged if you live in a First-World Country.

//A THREAD//

You will be surprised by number 9.
1. Education

Education is for the rich. There are no scholarships or loans.

There is no future because good-paying jobs require a degree.

Starting a business is usually the avenue to make ends meet for those without an education.
2. Food

Food is a basic need in developed countries. It is a luxury in poor countries.

People's entire focus is to find food to feed their families.

In developed countries, you eat when it is time. In poor countries, you eat when you are hungry.
Read 12 tweets
27 Oct
12 Things You Get Wrong About Wealth

// A THREAD //

Item number 9 may surprise you. Image
1. Wealth is not just about money

A big bank balance may seem cool, but the pandemic showed us not to depend on income.

Wealth is having assets that increase in value over time.

Wealth ensures you sleep without worrying about money.

Wealth buys you peace of mind.
2. Wealth is security

There are stories of athletes and lottery winners having millions but ending up poor.

The difference is that wealthy people focus on investing rather than spending money.

The wealthy ones rely on appreciating assets, which gives a sense of security.
Read 15 tweets

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