The past weeks have been quiet on our blog. When it’s quite on our blog, remember…I am working on something BIG !! Since January 2020, we have been working on the startup of our new company Dividend Cake.
Today I am informing you about the progress of our new startup.
Why are we starting a company ?
There are many world problems. Poverty, climate, plastics in the sea, pollution,… you name it. I think financial literacy and how to manage (grow) your money is one of the biggest problems in the world.
Financial literacy is important because it equips us with the knowledge and skills we need to manage money effectively. Without it, our financial decisions and the actions we take—or don’t take—lack a solid foundation for success. And this can have dire consequences:
- Nearly half of Americans don’t expect to have enough money to retire comfortably.
- Credit card debt has reached its highest point ever.
- More than half of the planet population has a financial literacy knowledge below 50%.
The numbers around the globe when you review the S&P’s Global Financial Literacy Survey are staggering. Take a look at the visualizations on the Howmuch.net page. There’s no other place in the world with such wide-ranging differences in financial literacy as Europe. The continent is anchored by a group of high scoring countries in Scandinavia, most notably Norway and Sweden (both scoring 71%). In fact, northwestern European countries appear to perform the best on the Financial Literacy Survey, and the further south one looks, the worse the situation. Portugal manages a poor 26%, the worst in all of Western Europe. The Eastern Bloc, meanwhile, has some obvious and staggering problems, with no country east or south of Hungary scoring over 50%.
In Belgium and many other countries financial literacy education in schools is limited or non-existing. I have two 15 year old teenager boys, so I can tell from experience. The country that has worked out a good complete financial literacy program from young age to teenagers in their schools, is Brazil. That’s why it’s the country that scores the best in Latin-America.
I personally think if people truly understand the way that financial systems work at an early age, or even later on in life—if they’ve made poor decisions but learn how they can go back and fix them and start planning for the future—they can then encompass that and take the steps to make a better life for themselves. My hope is that after people increase their financial capabilities, more people will be able to transition from surviving to thriving. Resulting in sufficient resources to support our own ever-changing, highly subjective pursuit of ‘happiness’.”
Bottom line WHY financial literacy is important
Financial literacy offers a number of benefits and is important for many reasons:
- Financial literacy helps you plan for the future.
- Financial literacy helps you meet your financial goals.
- Financial literacy helps you through times of financial hardship.
- Financial literacy helps you get the most out of your income.
- Financial literacy helps you go from ‘surviving’ to ‘thriving.’
- Financial literacy can improve many areas of life — relationships, careers, hobbies, and home life.
- Financial literacy provides life skills for young people to use as adults.
How do we intend to solve this problem?
Our creativity is big and we have plenty of ideas… that’s for sure.
At this moment, we can’t put our full business plan here in a blog post, as you certainly will understand. An entrepreneur launches his company when he’s ready. We will keep on blogging on how we grow money in different ways. We will definitely provide much more content going forward.
Technically our blog is moving to a complete new platform with much more capabilities. It is a large investment to get the company launched and all the content created but as we grow and build our content, we will provide value for anyone who wants to learn.
During our financial plan phase, we asked 4 banks to review our business plan and potentially support our financial plan. Only 1 bank could see the potential and innovation but during COVID-19 time all of them were reluctant to support a new startup. Eventually we didn’t need their support. It was more important to see their reaction…
Going forward, we also reveal that our content will be published in two languages to start with. The Dutch and the English language. In order to reach the complete dutch speaking population on this planet, it’s important to have the content available in Dutch. Our platform will support multiple languages.
Final Words
We are now on a mission and a vision within our startup company. There’s plenty of work to do. So apologies for writing less content but this will all be worth it. You will also get rid of the Google ads. That’s a positive !
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This is the end of this blog post.
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