The formal education system is the chief reason for the cycle of poverty faced over the world.Our schools do not teach about money management. They teach information for servitude though. Work hard on your education and then get a job that fits your education or training to get paid for your knowledge.
School generally teaches you to think in a box where you are working for someone and always working for money.
Because of how (and what) students generally learn about money. Very often, even those society considers to be decently or well paid, subconsciously 'chase the dough'. Chasing after money instead of making it chase you is bound to leave you broke most of the time. Chasing money also leads to immoral decisions and unfair practices. Then the mismanagement of money due to the lack of knowledge, a vital ingredient in the recipe for poverty sends them on a slippery slope to make them poor.
The society's understanding of the definition for wealth is one way I prove to myself that school doesn't understand money and is only setting up the succeeding generation to poorly manage their finance. Investopedia defines wealth as a measure of the value of all of the assets of worth owned by a person, community, company or country. Robert Kiyosaki gives the definition of wealth as the number of days you can survive without physically working (or anyone in your household physically working) and still maintain your standard of living. Investopedia's definition and many other dictionary definitions of wealth, persons get it twisted and think that being wealthy and rich are the same. Therefore, poverty is not being able to survive a single day without your source of income. Even if you are well paid, mismanagement of your funds can make you poor. How and Why? Because although persons' flashy car and big house lie, money doesn't lie; your life's balance sheet never lies.
Well, by the time you start working, you realize your expenses catching up on you. Some persons start working for way less than they deserve hoping to progress up the ladder. In government these steps up the ladder are encouraged but the time to get even your first step sometimes is frustrating. When they do get the training to upgrade their post, the pay increase does not match the level of work required. And to make matters worse the taxation system employed is counter intuitive to the 'reward' of a raise in pay.
Because the tax calculation involves taxing above a threshold and the difference of your statutory income and the income threshold, the greater your salary the more taxes you pay. Unless you are a government minister or recognized official you may not get certain benefits in living expenses to counter the increased taxes. -We should also check if certain persons get legal income tax exemptions.
Sadly the teachers teaching the children were brought up in the same system and only can teach what they know. Because that is what they live. Today hardly any high school student, would want to be a teacher simply because teachers' workload do not match up with their pay. I recently drove past one of my past high school teachers at the bus stop and the cruel criticism of "him still a tek bus" popped up in my head. I simply hope my teachers who may seem not to be living comfortably as others would want are saving for 'the rainy'.
In addition, while reading the newspaper today, I saw a question in the Ask The Doc section of the Gleaner January 5, 2015. Question reads,
"I see my students who I taught in high school and college living better lives, financially, than I am. How is that fair? I feel so frustrated at times."http://jamaica-gleaner.com/article/lifestyle/20160105/ask-doc-confused-about-my-priorities
For a teacher to feel this way it shows how the system we have set for ourselves is unfair. At this point I want you to know that the system can be changed. It is also important to note that life is not unfair. The way mankind lives life may be unfair.
So God bless those who are breaking free and have broken free from the system. We have made it our duty to re-educate ourselves differently from how school has taught us.
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