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How Can The Average Citizen Become Economically Savvy?

Jul 21, 2019Lifestyle

How Can The Average Citizen Become Economically Savvy?

Economics is not a dark art, it’s more or less a guessing game. However if you were to turn on any markets and finances show such as BloombergTV or CNBC Television and listened to the talking heads for about a minute, you wouldn’t believe so. Just stop for one moment and ignore the jargon industry pundits use to explain their rather long winded analysis. Economics always begins from the ground up. From the local business to the local consumer, it all begins with supply and demand. Products make our lives easier and more enjoyable, but how much as you willing to pay? Everyone can’t give each other favors, there has to be a value system. The basic common value system is fiat currency. Currency has a perceived value, which is why it continually moves up and down. Depending on the changing value, you will either need more or less currency to buy the things you want. Still don’t get it? Well, here are some ways to get economically savvy. 

1.  A general world view

YouTube has so many great economics shows and many of them are live streamed as they happen. Take a look at BloombergTV which is a show that looks at all things economics. It’s not just about the stock market, but looks at the various things that affect economies. This show has interviews with politicians, central bank leaders, looks at financial reports, performance reports, consumer trends, small and medium sized business growth, geopolitical decisions, and very often goes into depth on things like manufacturing output, data security solutions and developing nations. For a general world view and look at domestic and global markets, this is a live stream you should watch.

2.  Heated debate and styles

Just like every profession, we all have our own way of doing things to get the job done. CNBC Television is an economic channel that often pits industry experts and independent investors against one another in a battle of ideas. You can learn about various styles of outlook and positions by following this channel. You’ll also learn about your long term financial ability by learning about the fundamentals in both small scale and large scale strategies. If you take the time to learn different trends and read various financial outlets like Forbes, Wall Street Journal and the Financial Times, your foresight will increase. Then you can decide what kind of style you have and choose your approach to the economic opportunities in the world. 

3.  Speak to your bank

One of the best things you can do for your own knowledge is to speak to your bank account. Learn about the various financial tools they offer such as loans, credit cards, mortgages, savings accounts and what their interest rates. It may sound trivial, but you’ll learn about their views when it comes to customers and business. There’s a reason for everything, and the more you realize what your own options are the more you can introduce yourself to long term planning and thinking of your own financial future.

Go onto YouTube and search for BloombergTV. It’s a live stream that is on all the time, and has a general world coverage of economic news. If you would rather learn about different approaches to the market, watch CNBC Television.

How Can The Average Citizen Become Economically Savvy?

Best,

[a contributed post]

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