A misconception about financial education is the idea that it will help the individual to only spend money on what is necessary and not spend money responsibly.
Many people believe that financial education will help a person to spend money only on necessary things that it is impossible to live without. This is a mistake, as this is not the purpose of financial education.
Financial education wants to help people to spend rationally, and avoid impulses and unnecessary expenses, allowing the individual to have better savings, have their needs met, and be happier.
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