THE CONNECTION BETWEEN EDUCATION AND WEALTH
Education is the best legacy, it is a path that can never lead astray; it guides, nurtures enhances, propel, coordinates, cautions, and most importantly creates room for wealth.
No one on earth can live without communication and communication leads to relationships, relationship breeds growth, and growth results in success. Education has laid a background for all these to happen.
Education is power, knowledge is wealth.Dr. T. P Chia
The connection between education and income is strong and vital. “Education is often referred to as an investment in human capital”. People invest in human capital for similar reasons people invest in financial assets, including to make money. In general, those with more education earn higher incomes.
An investment in knowledge pays the best interestBenjamin Franklin
Wealth accumulation doesn’t come easily, in fact, it is no child’s play. It comes with a lot of hard work; but what is hard work without knowledge to maintain and do the needful? Efforts will be futile if wisdom is not applied to the accumulation of wealth.
There’s a clear difference between wisdom, knowledge, and understanding. Knowledge which is the first is the basic information one already possesses, it is an inborn ability already in a position only waiting to be put to work. It is an awareness gained through experience.
Education is the passport to the future, for tomorrow belongs to those who prepare it for today.Malcolm X
Understanding means realizing the intended meaning or cause of something. Understanding projects knowledge to the know and Wisdom is the ability to use that knowledge outstandingly.
The purpose of education is to save young people from the paralyzing effects of wealth and poverty.
Education has allowed us to put knowledge, wisdom, and understanding together creating a link to acquire wealth.
Generally, the more skills people have, the more employable they are. As a result, workers with more education have an inferior standard unemployment ratio than those with less education.
The roots of education are bitter, but the fruit is sweet.Aristotle
Of course, earning a huger income makes saving easier, and saving is necessary to build wealth. Those with lower incomes have a sleeker income structure, which makes saving and paying down debt more difficult. But those with more education also tend to make financial decisions that contribute to building wealth.
A good education is a stepping stone to wealth.Helen Keller
It is significant to acknowledge, however, that anyone can follow the financial modes that well-educated families tend to develop, such as these:
1. Have some liquid investments. Liquid investments can help lessen financial distress during a difficult time without having to sell assets or amass debt. Liquid investments comprise savings accounts, stocks, and bonds.
2. Modify. To modify means to capitalize on various economic methods to reduce risk. In addition to substantial assets such as houses and cars, those with higher degrees of education also tend to hold an enormous share of their savings in commodities, partnerships, and businesses, which tend to provide increased returns.
3. Savings. The help savings has done is immensely vast. To save might be quite tasking and tempting, even when one starts to continue is a huge responsibility but the result is profitable. It covers when one might be encountering financial setbacks.
No wealth like education, and no poverty like ignorance.ALI IBN ABI TALIB
It is important to realize, however, that the connection between education, income, and wealth is more complicated than simply more education yielding a higher income and more wealth.
Education will expand your well of understanding that making wealth goes with thorough research, hard work, and a substantial relationship. Things that seem to amuse everyone tend to mean nothing to you simply because you understand what wealth entails and education has given that edge over them.
In conclusion, the connection between education and wealth is limitless.
Also read:EDUCATION AS THE PERFECT AGENT STIMULATING SOCIAL CHANGE