Most people grow up knowing how to calculate interest or explain economic growth, but when it comes to handling their own finances, they struggle. According to Chartered Accountant and financial planning expert CA Abhishek Walia, the issue lies not in people being “bad with money,” but in the fact that they were never taught how to manage it in the first place.
The Missing Lesson in Education
Walia, in a recent post on LinkedIn, pointed out that schools focus on teaching the mechanics of economics and mathematics without equipping students with real-world financial skills. “You’re not bad with money. You just never learnt its language,” he wrote. He highlighted the gap between what is taught and what is actually needed to navigate adult life.
Students, he said, are trained to calculate compound interest but are never shown how to make it work in their favor. They learn what GDP means but not how to budget their own income. They understand taxes exist but rarely know how to legally save on them. This lack of personal finance education leaves many young adults to figure out money management the hard way—through mistakes in their 20s.
Learning About Money by Mistake
The absence of financial education means that most people enter adulthood unprepared for real-world financial decisions. As Walia noted, people often end up “learning money by mistake, not by design.” The early years of one’s career, when income is limited and expenses rise, are especially crucial for developing sound financial habits. Yet, without proper guidance, individuals are left to rely on trial and error—leading to debt, overspending, and missed investment opportunities.
A Four-Step Path to Financial Control
To help bridge this gap, Walia shared a four-step approach aimed at improving financial literacy among individuals:
Walia emphasized that financial literacy isn’t about wealth accumulation but about control and peace of mind. Understanding money, he explained, allows people to make confident, informed choices and reduce financial stress.
The Missing Lesson in Education
Walia, in a recent post on LinkedIn, pointed out that schools focus on teaching the mechanics of economics and mathematics without equipping students with real-world financial skills. “You’re not bad with money. You just never learnt its language,” he wrote. He highlighted the gap between what is taught and what is actually needed to navigate adult life.
Students, he said, are trained to calculate compound interest but are never shown how to make it work in their favor. They learn what GDP means but not how to budget their own income. They understand taxes exist but rarely know how to legally save on them. This lack of personal finance education leaves many young adults to figure out money management the hard way—through mistakes in their 20s.
Learning About Money by Mistake
The absence of financial education means that most people enter adulthood unprepared for real-world financial decisions. As Walia noted, people often end up “learning money by mistake, not by design.” The early years of one’s career, when income is limited and expenses rise, are especially crucial for developing sound financial habits. Yet, without proper guidance, individuals are left to rely on trial and error—leading to debt, overspending, and missed investment opportunities.
A Four-Step Path to Financial Control
To help bridge this gap, Walia shared a four-step approach aimed at improving financial literacy among individuals:
- Track your cash flow – Understand where your money goes each month.
- Learn basic tax-saving – Get familiar with tools like ELSS, NPS, and 80C deductions to make the most of your income.
- Automate your investments – Consistency in saving and investing helps grow wealth over time.
- Don’t follow trends; follow logic – Avoid chasing popular investment fads and make decisions based on long-term reasoning.
Walia emphasized that financial literacy isn’t about wealth accumulation but about control and peace of mind. Understanding money, he explained, allows people to make confident, informed choices and reduce financial stress.
You may also like
Annamalai accuses Stalin of hypocrisy over Tamil Nadu voter roll revision row
Justin Bieber says, even thinking about another woman is cheating
Cloud Seeding in Delhi: Cloud seeding trials are underway in several areas of Delhi, with artificial rain expected soon.
Tejasvi Surya meets DK Shivakumar, urges Karnataka govt to drop tunnel road plan and prioritise public transport for Bengaluru
Actors Rajinikanth, Dhanush receive bomb threats; probe launched
