Knowledge, skills and abilities are three important aspects of one person’s career. And above all, financial literacy is crucial as it equips you with the knowledge and tools needed to make strong informed decisions. Without it, the financial decisions we do make, or don’t make, can potentially threaten our financial security. Financial literacy is the education and understanding of various financial areas including topics related to managing personal finance, money, borrowing, and investing.
What is the difference between each?
Knowledge is both the theoretical and the practical information, facts or skill which we acquire through experience or through learning. Our knowledge increases as we gain more experience.
A skill is an ability to do something well. A well-developed skill can make us experts in a particular field. Skills can be learnt too.
An ability is a talent or skill in a particular area. It can be improved or developed to a certain extent, even though it is natural and inbuilt. Its development is a lengthier and complicated process.
What does this all mean?
It means that:
We can have the knowledge of how to do something, but it doesn’t necessarily mean that we have the ability or skill to do it.
And financial literacy is one of the most important skills to have, but it’s not a skill commonly taught or talked about in schools. Many individuals struggle with understanding how to manage their own personal finances, reduce debt, plan for a comfortable retirement, and decipher the stock market.
Therefore, GREEN HEDGE CAPITAL started its GHC Academy Project in the year 2020, to create a positive contribution and change towards financial literacy.
Taking into account the dynamic financial landscape, we all in today’s world have to make more financial decisions than ever before. Our aim at GHC Academy is to impart financial knowledge that one must possess. To help people for wealth creation, helping them to achieve their financial goals. We believe that the doorways to success is to equip ourselves and our clientele with opportunities to enhance knowledge. Practical exposure, is what our motto is, to ensure value addition to money management skills to the lives around us.