Do you know why does finance department is a base for any organizational structure? Why should we study Finance in 2020? Certainly everything related to money, budget, and counting. Whether we realize it or not, everyone already has basic financial skills, even for those with little education. The proof, they are able to recognize and count the amount of money, as well as buying and selling goods of daily necessities. Did you observe it in daily routine life?
Basic financial abilities must be developed, so that understanding and practices regarding finance become wider and varied. Here are the reasons for the importance of financial learning.
1.You can start business easily
Studying finance allows you to become an entrepreneur by starting your own business. When you already have sufficient knowledge in finance, you can work for a company first, in order to gain experience. Not only that, you can learn how companies work and make profits. With this knowledge, you can start your own business one day.
However, if you have confidence in the knowledge gained in finance and have enough resources to start your own business, then you can immediately put it into practice. From the knowledge and financial skills, you can build, manage, and develop your own business to achieve success. That’s why studying finance in 2020-2021 is really important.
2.Motivate teammates to achieve financial independence
Knowledge and skills in the field of finance that are owned do not have to always be used for personal gain, but can also be used to help others in their efforts to achieve financial independence. For instance, if you work as a management consultant in the financial industry, you can help people manage and control their financial lives. In addition, your knowledge and experience can be used to collaborate with microfinance institutions to help provide and distribute loan capital to micro entrepreneurs who need it.
3.Learn to manage personal financing
Studying finance has nothing to lose. On the contrary, knowledge in the field actually provides many minimal benefits to improve the ability to manage personal finances in an effort to achieve financial independence. The rest, many benefits can be obtained from financial learning. One of them is to provide knowledge or capital to become an investor.
Investors must not only have capital, but also adequate knowledge about finance. Starting from observing the development of the stock market, analyzing market trends, to making profitable investment decisions.
All of this is certainly not enough just to ‘try’, let alone rely on luck, but must be supported by adequate knowledge and methodology to achieve investment success. The field of finance will provide the supplies needed to become a reliable investor.
4.Avail the chance to get involved in social work
Life is certainly not merely about finding materials for personal gain. There are times when the lives of others who are less fortunate require us to give more attention and care. So, what does that have to do with studying finance?
The science of finance teaches how to get, manage and allocate money wisely. With this knowledge, you can get associated with many jobs or social activities such as fundraising for various social interests. For example, helping victims of war, natural disasters, and others.
5.Manage social works professionally
Social action in the form of fundraising is certainly not just raising funds, but also managing them. Not only that, fundraising is also accompanied by the preparation of a budget for funding needs, so that it can be allocated to those who need it.
Even more complex, there is a moral obligation for fundraisers for funds received from donors for the use of funds. For this reason, fundraising actions are generally combined with accountability reports on fund management. The aim is to prove that the funds raised from donors are actually used for social purposes and channeled to those who are entitled to get it.
In fact, finance will be quite helpful in managing a lot of tasks which are connected to different life fields.