Full Video: Unlocking Success: Why Financial Literacy is a MUST-HAVE in College! ||Acharya Prashant, NIT-J(2023)
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00:00Sir, which is more important to sustain economically, financial literature or value education that
00:06you talk of?
00:07Two big financial crisis that we have faced in this century were both caused by top end
00:15finance professionals, very, very smart people.
00:19And they caused the economies of the entire world to sink because they didn't have values,
00:24they didn't know what is valuable.
00:26More than financial literacy, we need to be value literate, otherwise you can be financially
00:32very smart and yet a huge idiot.
00:35You want to buy a car and you already have a car, you want to sell it.
00:39Now it's one of the classical problems in finance management.
00:44Value education is when you try to see whether you really need a car.
00:50It might turn out that you want a new car just because your brother-in-law has bought
00:55a new one.
00:56Financial management does not go into that.
00:58Once you have seen that an object is really valuable, after that comes the role of financial
01:04management.
01:05But you cannot have a good financial sense without any sense of values.