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Financial Literacy | Food for Thought | Why We should Learn Finance?

January 24, 2017

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Financial Literacy | What is Finance? (Part1 | Chapter1)

January 24, 2017

 

Part 1                       Finance, the Big Picture

 

Chapter 1               What is Finance?

 

 

Before we jump into different financial and economic concepts, let’s try to answer one key question. What is Finance?

 

If you ask around, you will get various answers. Someone would talk about investments, else would talk about stocks and bonds, and others would talk about money.

 

Well, all of the answers are correct. Finance is an umbrella term, hence a broad concept.

 

However, let us define finance as the science of money management.

 

According to Melicher and Norton, it is "a study of how individuals, institutions, governments, and business acquire, spend and manage money and other financial assets."

 

Simply put, finance is about money.

 

The main focus of our animation series is to explain how money works, how to put money to work, and how to manage it. To explain these concepts, we need to first visit the monetary system, the main players in the market and their behaviors.

 

Being a financial professional is a great challenge. It is close to being a rocket scientist surrounded by math, statistics, and numbers.

 

However,

 

As we mentioned, the basic concepts, which will be more than sufficient for you to make better financial decisions in everyday lives, are not difficult to understand. And guess what, whether you realize it or not, you are already one of the players in the game!

 

JumFin will try our best to demonstrate these financial and economic concepts as easy as possible, so that everyone can have better understandings of finance and economics.

 

Click here to watch this video on YouTube

 

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