The value of Personal Finance Education and High-Income Skills: $100,000+
Key Points:
With recent studies, we can quantify the lifetime value of investing in Personal Finance education and income-producing skills mastery: $100,000+ Lifetime value.
Research indicates a strong correlation between financial knowledge and financial well-being. Making it a worthwhile investment for individuals to gain income-producing knowledge and skills that can benefit them financially long-term.
Investing in personal finance education and skills courses yields a lifetime benefit of approximately $100,000+ per person, with the advantages starting as early as high school.
Teaching the Next Generation Financial Literacy
Taking a course or program that provides financial education and income producing skills training does pay off.
In fact, there is a proven lifetime benefit of roughly $100,000 per student from completing personal finance courses and income producing skills courses.
Much of that financial value comes from learning how to avoid bad debt, investing properly, earning more money, proper financial planning, improving oneself and their value and leveraging better credit scores to secure preferential borrowing rates for key expenses, such as insurance, auto loans and home mortgages, which is not even half of what we teach in The Six Step Success System and online courses at Williams Wealth Creation.
The Ripple Effect
People don’t just learn these lessons. They share them with others. When you take that $100,000 in value and multiply it across families and communities, it’s an incredible economic engine. Especially with the internet, being able to share that knowledge and skills, and for the clients to be able to earn more income and apply the knowledge to their life no matter where they live in the planet, is surely going to help alot of people change their situation by providing a path too for the first time ever.
The Trickle-up Effect
I also get to show younger students the value of having this knowledge and skills in a digital world and then they are able to share that with their parents or help their parent’s businesses grow. I’ve been teaching personal finance and high-income skillsets online and offline for 5 years, and have seen this time and time again, referring to what’s known as the “trickle-up effect.”
Getting the correct knowledge, starting as soon as possible — that’s powerful.
Personal Finance education + the internet and online business + high-income skills will change lives worldwide
There is also great news for younger generations, starting with the USA like usual, the trend toward middle schools and high schools offering personal finance classes is becoming the norm.
Writing this in 2024, already half of the states in the USA require or are implementing the requirement for high school students to take a personal finance course and skill-based course before graduating, according to the latest data.
Another good sign, there are 35 personal finance education bills pending in 15 states, according to this bill tracker.
The research is proven
Research spanning years has proven that financial knowledge equates to financial well-being. Making it a worthwhile investment for individuals to gain personal finance knowledge and income producing skills that can benefit them financially long-term.
The research is undeniable folks. And I can say, I am living proof of the research as well.
Students who are required to take personal finance courses starting from a young age are more likely to make intelligent financial decisions and use good debt to accelerate growth and less likely to get into bad debt or have a hard time earning enough money or make poor financial decisions, and at the end of the day, creating wealth is a series of good financial decisions.
Students are also even more likely to enroll in courses and programs that can help them develop and grow when they are aware of the financial resources available to help them pay for it/the value of gaining that skillset or knowledge.
My research confirms that financial education and income-producing skills requirements can significantly impact financial behaviours. I am proof, my clients and students are proof and these studies are proof.
To add to this, research showed that individuals with a financial literacy course under their belt have better average credit scores and lower debt delinquency rates as adults, according to data from the Financial Industry Regulatory Authority’s Investor Education Foundation, which promotes financial education.
One of my favourite learnings: a report by the Brookings Institution found that teenage financial literacy is positively correlated with asset accumulation and higher than average net worth by age 25.
“I tell people all the time that this is going to be the most important information they are going to learn in their life. It may even be the last program(s) you ever need to achieve your goal. Follow the information for 10 years, and I guarantee you’ll see the benefits. ”
I go in with the mindset that my No. 1 goal is to teach them knowledge that will not only help them create wealth now, but show them how to create wealth now and turn that into generational wealth. I want to affect their children’s children.
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I teach high income skills, starting businesses, how to be your best self, entrepreneurship, personal finance to teens, adults, seniors, and all ages and have had clients and students from almost all countries globally.
As part of my course, students must master personal finance and wealth creation in step 1 along with becoming their best self. After, they must make real sales, start a business, do marketing, provide products and services to people around the world, and do it all from their laptop or smartphone, which many of them maintain on their own and build careers out of afterwards.
Closing Thoughts
I’ve learned that adults with the knowledge I teach, find it is easier to manage and grow their finances in a typical month, resulting in more income, less debt, wealthier generations and greater financial stability.
They are also more likely to start businesses, invest, save and plan for retirement, according to data from the TIAA Institute-GFLEC Personal Finance Index based on research over several years.
The need is real, the effect is changing lives globally, and it motivates me to use the online world to spread this knowledge.
