There has been an increasing number of people who are financially savvy, which results in more discussions about pecuniary matters on a daily basis. My point of view suggests that this trend stems from exposure to online information and social and cultural values. I am of the opinion that the growth in financial literacy can be beneficial for raising more awareness for individuals.
There are some key drivers behind this development. One of the major contributors is the proliferation of the Internet, which leads to easier access to data. To illustrate, in this day and age, there are various types of online platforms that attract people to obtain new information related to finances: Twitter, Instagram, Youtube, and Tiktok, to name a few. In comparison, previous generations were not commonly introduced to the concept of financial management. In fact, only a few people who are particularly interested would be willing to take courses or participate in workshops about monetary matters. Another main factor is cultural and social norms. There is no denying that many parts of the world have been dominated by capitalism; therefore, people are likely to be influenced by materialism. Cultures also play a significant role in this trend. For example, it is common in Asia for family members, peers, or casual acquaintances to bring up financial topics for discussions. My aunt would ask me about my yearly income and compare it to her children’s.
I believe there are some advantages of heightened awareness of financial affairs. To clarify, it can help individuals understand how to allocate their budget and savings or plan ahead for their retirement schemes. For instance, my uncle planned to retire early since he started working when he was in his twenties. He became knowledgeable about investment and received a big sum of dividends quarterly. Earning a constant flow of passive income allows him to be able to retire in his forties, so now he is free to pursue his other life goals, such as traveling and relocating to Japan.
In conclusion, I am convinced that being exposed to a wide array of data on the Internet and experiencing certain cultural aspects contribute to prevalent conversations regarding monetary statuses. This can be considered a positive development because it encourages people to become more aware of their personal finances and establish their ideal lives after a financially secure retirement.