Financial Literacy Essay Example | Topics and Well Written Essays - 500 words

Financial Literacy - Essay Example This essay will explore several articles on the topics of career and jobs, and saving. After some time on a job, one may get a better offer from another firm or decide it is time to move on. During such a time, it is important for one to know that when changing jobs will have financial implications and that there are factors a person has to take into account. An individual should put in place plans that will ensure that his financial health is stable in the period between transitions of jobs (Farr, 2002). One could, for example, have insurance policies that will ensure he gets certain benefits. Having reserve funds will also be ideal to be able to sustain oneself witin the short-term period (Certified Financial Planners Board of Standards, 2005). One should always prepare for retirement as early as possible. This calls for the need to save enough for the future, to ensure that there are enough resources to sustain one throughout the period after retirement. In addition, job security is never guaranteed, thus, a person should always have a contingency plan in case one loses her or his job. This information will help me to secure my financial future as early as possible and prepare for unplanned circumstances (Claman, 2001). During the beginning and peak of one’s career, an individual may earn more than he will need for immediate consumption; hence, he will need to save for future times when he may not be able to have a constant income or his needs exceeds the current income. Saving can also be a way of creating more wealth and having another extra source of income. Saving can also be viewed from another perspective, which is in terms of the money one spends on a commodity or service. Different services and products have a range of prices depending on the quality, amount and type among other factors. Based on this, one should evaluate the product that he is buying and analyse whether he can get the same at a lower price.