Despite being one of the most fundamental aspects of our lives, personal finance is not covered in great detail in most public schools in this country. Financial literacy is a subject that may be touched on here or there; however, it is not usually a required part of the curriculum. A lack of knowledge about personal finances is in large part why many people find themselves in uncertain monetary situations that escalate quickly out of control. This cycle of never having enough money and never building up sustainable wealth is difficult to break, in large part due to the lack of financial education.

When most people graduate from high school and enter the workforce, they are unprepared and make fiscally sound. This lack of information and understanding inspired financial advisors Michael Soroko and Zach Zenda to help clients through their company Emeritus Wealth Group, to help clients. They work to educate clientele about financial literacy while guiding them to establish and meet long-term financial goals. This dynamic duo shares three areas where more financial education can be of great benefit.

College Debt - College does not have to cost $100,000. However, this is often the choice that people make, because they do not know about other options. Societal pressures may lead students to live on campus and pay for housing, which adds to their debt. Imagine still paying rent on that cramped, stinky dorm room and communal shower twenty years after you set foot in it! This is the reality of many people who use traditional loans and assume college debt. Looking into things such as community college, scholarships, employer tuition programs, and understanding how college saving works are ways to avoid starting out with so much debt.

Budgeting and Saving - During childhood, many parents assume the care of their children's finances. Then, when they get their first paycheck, they receive the shock of their lives. Often, the money being made and money needed to pay bills and expenses does not match. They learn about budgeting and savings the hard way because they have not been taught the reality of income, cash flow, and saving money, every month. Budgeting is about minimizing expenses and maximizing income. Budgeting and understanding this leads to better long term financial stability.

Credit Scores and Credit Usage - Credit is a tool that can be used to establish a solid financial foundation. However, people often sink themselves into debt with credit cards. An understanding is needed as to how interest is going to affect your finances. Most everyone starts out with great credit, but too many people destroy it due to misuse of credit cards. People may look at credit cards  as free money, with no idea how much interest they will actually accumulate and pay for those purchases.

At Emeritus Wealth Group, education is where financial literacy starts. When a client comes on board, they are put through a unique evaluation process to determine where they are and where they want to go, they are then given the knowledge and tools to reach their financial goals. Learn more about Michael Soroko and Zach Zenda, by visiting their company website and see how they can help you achieve your financial goals.