Title: Suffering from financial malaise.
Publication Year: July 2021
Media: El Economista
Author: Pilar Cepero
Summary: The lack of financial culture in Spain is a drama. We are not the only ones. If we look left or right, up or down, the drama becomes global. Another pandemic. If 60% of the Spanish population is unaware of the concept of compound interest, in the United States or the United Arab Emirates, almost half of the population over 50 years of age lacks some type of retirement savings. I could go on with more data.
The reality is that we have not been raised to be aware that there is financial health to take care of. We have not been allowed to assimilate that money is a great ally, a powerful financial asset that we can put to work with some training. And not managing our money can take us to the opposite extreme and let it be the money that drives us, turning into unmanageable debt and unbearable stress. It is within everyone’s reach to manage our finances with solvency and security to create enough equity to allow us to maintain our lifestyle now and tomorrow. You just have to get on with it.