Full Video: Unlocking Success: Why Financial Literacy is a MUST-HAVE in College! ||Acharya Prashant, NIT-J(2023)
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00:00You want to buy a car and you already have a car, you want to sell it.
00:03Now it's one of the classical problems in finance management.
00:07Should you sell this one off?
00:09Should you buy a new one or should you simply lease a new one?
00:12Which one is the best?
00:13An option being the best, it should give you the maximum positive financial return, right?
00:18So that's how finance operates.
00:20Value education is when you try to see whether you really need a car just because your brother
00:26in law has bought a new one.
00:28That's value education.
00:29Value enquiry is about asking, what really is the value in that?
00:33Why must I go for it?
00:34And if I have to go for it, then I will, definitely.
00:37But do I need to?
00:38And if I feel very strongly about pursuing that object or that good or that goal, where
00:42did my desire come from?
00:44I never always had this desire, surely it sprang up someday from somewhere.
00:49What caused it?
00:50That's value literacy.
00:51More than financial literacy, we need to be value literate.
00:54Otherwise you can be financially very smart and yet a huge idiot.