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Why Study Finance?

Finance is a fascinating subject to study, especially if you are interested in how money really does make the world go around.

It’s a field of study concerned with the economy on a global scale, the ins and outs of money and currency, and the world of investments.

While it may not seem like a popular subject to study, finance has been around for a very long time and is considered one of the oldest disciplines to be taught The reason why it is still taught today as an academic subject should be obvious - we are all faced with major and minor financial decisions on an almost daily basis.

If you’re not satisfied with being clueless about investing or don’t want to go through life afraid of numbers and money like so many are, then finance can be a fantastic subject for you to study.

It combines finance, economics, and accounting for a well-rounded knowledge of all things money and economy-related.

That’s not even to mention the lucrative careers associated with the study of finance, which is a good enough incentive for most people to buckle down and stick with the challenging aspects of the subject.

The Main Challenges of Finance

The main difficulty of studying finance is keeping up to date with the latest developments, as well as the number-crunching, which is a reason to steer clear of the subject for many.

Another challenge of finance is that since it is a field of study that can lead to high-paying jobs, there’s a strong chance that you will be competing with intelligent candidates to make your way in the field.

On the plus side, though, while a subject like accounting deals with several intimidating topics such as audits, quantitative analysis, and tax accounting, finance is more concerned with financial planning, venture capital, and behavioral finance.

It is a field of study which will help you personally keep on top of your finances but also give you the skills to help others manage their money better. With that being said, you need to be able to stick with it even when it seems like you’re faced with an overwhelming amount of numbers and calculations.

If you aren’t fazed by budgetary calculations and the decisions involved with financial planning, then you will likely find it easier to excel in the field. But whatever the case, it can be a grind at times, so it’s worth trying to summon internal motivators to keep you engaged with the content.

An example of an internal motivator would be a deep enjoyment of the process, which means connecting to the task at hand and not getting caught up in the scale of what you need to do.

If you can do this and see it as one problem to solve at a time, you should be able to derive satisfaction from the calculations you have to do, making it easier to stick to in the long run.

As well as internal motivation, working with a tutor can be a great way to stay interested in the subject and explore your curiosities with it further.

While finance might lead to a variety of different careers, it might be difficult to figure out what exactly you’re interested in unless you work with a tutor.

Since a tutor will have a breadth of knowledge on the topic to draw upon, they can tailor your lessons to the aspects you take an interest in and from there; it’s possible that they can bring up potential career options you might like to explore.

Working on finance is possible if you just have a few textbooks or take some online courses, but what you lack with these independent approaches is personalized feedback from a tutor.

Benefits of Studying Finance

One of the main reasons you should consider studying finance is so that you don’t become one of the many people in the world who is reckless with their money and makes poor financial decisions that can have significant impacts on their lives.

It’s easy to go through life oblivious to financial management, which means it can take some people a whole lifetime to realize where all their money is disappearing and how to make healthier financial choices.

All you have to do is take a look at some of the studies brought up by the Financial Literacy Survey in the U.S. to get an idea of how dire the situation is regarding people’s personal finances.

For instance, in 2019, the Survey brought to light worrying statistics such as this one: 58% of Americans live without a budget, and 25% fail to pay all of their bills on time. To avoid becoming another statistic and wasting away the money you work hard to earn, studying finance is a sage course of action you can take.

Even if you have a sound knowledge of finance already and feel like your personal financial planning and management systems are on point, you could use the skills you learn to help out your close friends and family.

If you decide to pursue a career in finance, you could potentially help a lot of people work towards more fulfilling lives by giving them the power to make better financial decisions for themselves.

This can be gratifying work since money is such an essential part of any society and an issue that continually weighs on many’s minds.

Find a Finance Tutor on Superprof

If you’re in the Manchester area, you can find a local finance tutor through the Superprof website.

With the search function, you can find the perfect finance tutor for you, factoring in the level of teaching experience they have, as well as their hourly rate and overall student rating.

You also have the flexibility to take classes either in-person or online via webcam, so you can work from the convenience of your own home if you prefer.

Many tutors offer a sample class to first-time students, which lets you try before you buy.