Outlining all the millionaires and famous faces who never got a college degree. Yet, many people who are affluent do have an education. Is there a link between education and financial success?
The simple answer is “yes.” An education teaches many key skills, including language skills. Language skills are important when you are trying to set up a bank account, apply for a personal loan, or buy a home. Language skills can also affect where you work and therefore how much you earn. Education in general is also important. If you have a good education and have developed good research and thinking skills, you may be better equipped to research and compare personal loan options or develop a plan to get out of debt. A formal education may also be recognized by employers and may affect your chances of getting a good income.
Of course, even if you do not have a formal education, there are many ways that you can succeed financially. Many banks have staff members who can help you understand personal loans and other financial issues. There are also books, magazines, and newspapers that can help you understand your finances and can help you get the education and financial skills you need to succeed.