Financial Literacy

Financial Literacy – Overview

This is still a work in progress, I am currently building the courses then I will be creating an interactive user interface for the entire program, I plan on mapping out a full course set for 24+ courses, 1 for each month within the 2 year contract. Each course provides an incentive reward for completing it, and allows you to continue to receive credit builder loan payments and money into your savings account fund.

**Important** If you opt out of these courses,  you do not receive the savings fund. If you fail the courses for that month, you will not receive your payment into your savings fund. if you end your contract early, all money accumulated in the savings fund becomes null and void and returned to crypto makr. if you do not have your hotspot running for the month, you will not receive either payment to your savings fund, or the payment onto your credit builder loan. this will affect your credit rating, as it will show as a late payment. **important**

Financial Literacy

Hey guys, Welcome to Crypto Makr’s financial literacy courses. In this area of the website, I’ll be teaching you guys about Financial Literacy, and discussing the future of finances. With cryptocurrencies becoming more mainstream, the financial system is shifting. With that being said, learning financial literacy is more important than ever. They don’t teach this stuff in schools the way they should, and it has caused our economy to suffer.

So, financial literacy is much more than you might think. Everything involved with it can’t be taught in a single sitting, and a lot of it requires planning and action. The goal here though is going to be teaching you financial literacy while helping you to make money for free, so that you can use that money to gain experience in utilizing the things you will be learning, and to help you have an easier time creating a budget, maintaining financial security, and growing wealth for the future.

What is financial literacy?

Financial literacy is teaching individuals how to make informed decisions about their financial lives. The idea of teaching it is aimed at changing the core beliefs and attitudes around managing your money so that you can make better financial decisions and obtain financial freedom and security.

As a society, the core of our financial lives has long been credit. We use credit to finance cars, homes, student loans, and other big purchases that we can’t afford normally without credit.

In 2008, there was a collapse in the economy and housing markets due to the over-extension of consumer credit lines. This caused millions of people to lose their homes. If we teach financial literacy at a young age to consumers, the hope is that they will make better financial decisions and things such as this will not happen again so easily. My part in this is solely to provide the education necessary so that, if implemented, consumers can make the decisions necessary to be financially secure. If action isn’t taken by the consumer, even having this knowledge cannot give you financial literacy. So this takes 2 steps, the first being learning about it, and the second, implementing it into your everyday lives.

Core components of Financial Literacy

Earning, Saving & Investing, Spending, Borrowing, and Protecting.

If you can become fluent in all of these aspects and learn the tricks to doing each of these things while benefiting from doing so, you will be well on your way to having financial freedom very early in your life. I will briefly talk about each of these here.

  1. Earning – This section refers to bringing money home from work, self-employment, or various investments.
  2. Saving and Investing – This section involves being knowledgeable about financial institutions and the services available to you as a consumer.
  3. Spending – This section is the most important piece to your financial literacy. We will be going over WANTS vs NEEDS and budgeting.
  4. Borrowing – This section talks about how we acquire debt to obtain assets or borrowing money with our credit. We will be talking about mortgages, school loans, car loans, personal and business loans.
  5. Protecting – This section deals with the personal security of your assets. We will be discussing insurance, planning for retirement, and the darker side of things, ID theft, and fraud.


Financial Well-being

Financial Well-being can be described as a state in which the consumer is comfortable and able to properly manage their current state of debt for the foreseeable future and to be able to afford things for the sole purpose of enjoying life.

This is done by looking at four major aspects. The first two being present and future, the second two being security and freedom of choice.

In order to obtain financial freedom, you must learn how to put these aspects in check altogether. Without creating financial security, you will be unable to have freedom of choice because of the structure of our society.

Steps to financial literacy

In order to obtain financial freedom, and to utilize your knowledge of financial literacy, you are going to have to take steps to implement these things into your life.

  1. Make a commitment – In order to reach a state of financial freedom, you must make a commitment to take responsibility for your spending habits and your financial situation. This is the most important step in obtaining financial freedom.
  2. Assess your financial situation – This is necessary in order to properly manage your financial goals in the future. You need to fully realize and track your earning, spending, saving, investing, and protecting. This will help you optimize your situation and rid yourself of things that are a waste of your money.
  3. Clean financial clutter – This is to do things like, putting all of your assets into one bank account, minimizing the number of credit cards you have, and keeping a record of all your accounts so that you can easily see where all of your money is, where it goes, and what you can cut out of your spending habits.
  4. Create a budget – This is the foundation of your financial literacy. A good budget needs to be sustainable and still allow you freedom of choice.
  5. Know the rules – There are many rules for financial success that you need to keep in mind. They were created for a reason, and by learning from other people’s mistakes you can avoid pitfalls that can stop you from obtaining financial freedom.

Freedom from debt

Not everyone has debt, but if you aren’t in the top percentile of the world, you probably do. Debt is classified as anything you borrow and is calculated right away. So financing your car instead of buying it outright is considered debt immediately, even if you are making payments on time. So credit cards, mortgages, car loans, student loans, it’s all debt until it doesn’t exist anymore.

There are a few strategies you can use to help manage your debt, but in general, you want to focus your efforts towards one of these main three things, the debt with the highest interest rates, the debt with the longest repayment terms, or the lowest value debt. Depending on the level of debt you have, each strategy has its own pros and cons.


Principles of budgeting

So there are two major principles in budgeting. If you make $1000 a month, and your bills are $1200 a month. You have one of two options. Increase income, or decrease spending. Of course, you could always do both of these things and maximize your results, however, that may be asking a lot out of someone that only needs a $200 change in their budget. Now if it was something more like you made $1000 a month and your bills were $2000 a month, you really have got to up your income and decrease spending both. Other options would be to get a roommate or move in with family. But we will talk more about ways to increase your income and decrease your spending habits later on.


This concludes the overview of Financial Literacy for now. This gives you a basic guideline for the beginning steps needed to obtain financial literacy. This covers what financial literacy is, the core competencies that make up financial literacy, the steps you need to take to reach it, how to better manage debt, and the principles of budgeting.
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