In this world, money talks, and if one wishes to be successful, he or she had better listen to what it is saying. Although the language of money, finance, is at times complex and difficult to comprehend, there is no reason why even those less fluent should not be able to maintain themselves (and their wallets) by way of making it a point to learn the rudimentary aspects of finance and by making educated decisions. Whether the proprietor of a small savings account or a small fortune, working out one's finances is no small responsibility. To me, financial responsibility is having the foresight and good judgment necessary to make sound decisions and protect one's economic security.
In seeking financial security, it becomes necessary to look beyond next Tuesday and into a more long-term future. The prospects may be uncertain at best, but it does not take a clairvoyant to predict the many common economic pitfalls that may be lying in wait. This idea is nothing new. Man has been budgeting perhaps even longer than the concept of wealth has existed among them. No one can know what the future holds for him or her, but only prepare for what it may hold. Realizing that a financial situation may change faster than a New England weather trend is the key to protecting one's fiscal interests. One who is educated in finance is armed with a plethora of tools with which to defend their wealth. These weapons are the savings account, social security, budgeting, prudent buying, insurance, credit and many others. By looking at the world and at financial history, one can use these tools to best protect his or her economic security.
However, knowing this is not enough. One must also be able to use these tools shrewdly. Without this ability, even the most educated can flounder and fail in the dog eat dog world of our mixed economy. Prudence and thriftiness are perhaps the greatest adversaries one could hope for in the financial world.