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“Many folks think they are good at earning money when what they don’t know is how to use it.” –Frank A. Clark
I like how Clark underscores a distinction between earning money and managing it effectively. There is clarity in this quote that not everyone who receives income can effectively use it well. For instance, a person might earn more money but fail to manage it well. This may be out of poor spending habits or not exploiting investment opportunities.
We are reminded to take financial literacy seriously as the ability to earn money without understanding planning, budgeting, saving, and investing, even a high income can be squandered. Many people may overlook the importance of making thoughtful financial decisions and instead focus solely on earning more, thinking that more income will solve their problems.
It is often the ability to manage money wisely—knowing when to save, when to spend, and when to invest—that separates those who achieve long-term financial success from those who struggle despite earning well.
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