If you find finance intimidating, you’re not alone. When many people think of finance, they envision Wall Street high-rises, fancy suits, and frantic stock tickers. CA Aaditya Jain, India’s renowned faculty for finance in the CA industry step forward to give lessons to students on why you should have command over finance.
But it doesn’t need to be intimidating. Aaditya Jain sir is in believes that anyone can and should have a basic understanding of finance.
Here are five reasons why finance is essential knowledge for all professionals, regardless of their role, industry, or seniority level.
WHY YOU SHOULD STUDY FINANCE
1. Finance Is Ubiquitous
It doesn’t matter if you work in tech or education, consulting or advertising. Your company needs cash flow to do things like pay everyone’s salary, distribute dividends, and reinvest in product innovation.
Even if you don’t manage a budget yourself, finance is at the core of business decision-making. If you’re pitching a project or angling for additional funding, understanding and being able to communicate how you can turn that investment into revenue for your organization will help you make a more convincing argument.
2. Finance Will Help Your Resume Stand Out
If you’re looking for ways to differentiate your resume, finance is a good place to start. Especially if you’re entering the workforce as a young professional without extensive experience, showing you have business knowledge before you’re even in the field can make you a more attractive candidate. This is particularly relevant in non-finance fields, where financial education is less common but no less fundamental to running a successful business.
3. The Finance Industry Is Constantly Evolving
The world of finance has grown beyond traditional big banks. SoFi, Stripe, and Coinbase may not have existed a decade ago, but they have since revolutionized student loan financing, payment technology, and cryptocurrency, respectively. Understanding finance can help you keep up with the growing field of financial technology, also known as “fintech,” whether you want to work in the industry or become a conscious consumer of its products.
4. You’ll Become a Stronger Problem Solver
Yes, finance involves formulas, Excel spreadsheets, and ratios. But it also involves analyzing these numbers and turning them into actionable business insights.
Learning how to take quantitative data and use it to solve problems and make sound business decisions is a valuable skill that can serve you in your career now and in the future.
5. Finance Is Important Outside the Office, Too
While understanding finance is critical for work, it’s also critical for your fiscal well-being outside the office.
We’re faced with financial decisions, small and large, every day. Whether it’s choosing to eat in or order out dinner, paying your gym fees in a lump sum or monthly installments, or turning your hobby into a side hustle, these choices require a basic knowledge of finance.