Ever been in a situation where you had to choose between paying for your finance class and keeping your finance education? Coincidence? Probably not. But get it from me. No one has ever forced you or pointed out that you should take finance courses or taken any responsibility for your education.

Managing your own finances can have long lasting impacts on your quality of life. A lack of financial knowledge can lead to disastrous outcomes, such as an inability to meet retirement may never materialize. A lack of financial security can result in low morale and loss of self esteem, costing companies and employers millions in needless damages. And, on a smaller scale, a financial incapability can lead to emotional trauma resulting in misery, unemployment, and poor health.

Do you need more information on how managing your finances can impact your retirement planning? The simple answer is “yes.” Most people do not have the long-term financial goals that retirement planning will bring. Usually, they set retirement goals that are based only temporarily on current income. Therefore, even when times are good, they are unable to build large enough savings or retirement income.

If you are like most Americans today, you save little for retirement. Instead, you spend most of your income on an emergency fund. This fund is meant to pay for major purchases after a major life event such as losing a job, becoming ill, or accident. In order to have an adequate amount to cover these purchases, you need to have a surplus of cash each month. Unfortunately, most Americans are not able to have this reserve of funds each month.

Financial education will help you understand how to invest your emergency fund so that you will be able to pay for the things you want when they are needed. You will also learn how to set realistic goals and make sure you meet them. Investing will not just allow you to have a secure lifestyle; it can also help you get a better job, purchase a home, and finance educational opportunities for your children.

You may be wondering what you will learn in a financial security class at your state university. The first thing you will learn is how to save money. You will be able to analyze your financial portfolio to identify areas of risk, figure out where you need to tighten your budget, and learn about investing. Your personal finance education will include information on personal finance law, tax laws, understanding retirement accounts, creating a safety plan, and financial options for small businesses.

Finance students will have the opportunity to gain valuable experience while they are enrolled in a university program. By taking formal financial security classes at your state university, you will be able to earn a Bachelor of Science or a Master of Science in Business Administration. Your degree shows your commitment to your education and your future. In most cases, you will be eligible for student loans after graduation. The repayment plans vary from bank to bank, so it is important to shop around.

For people who already have experience in the world of finance, taking formal business classes at your university will help you gain valuable insight into investing for wealth. It is very likely that your professors in the Finance Class at your state university have years of experience teaching students how to save money and invest for wealth. These professors have studied the markets for years and are in the best positions to teach you how to invest your money wisely. Whether you decide to take free online personal finance courses at your state university, visit a financial investment conference, or read materials about investing, you will gain valuable insight into how to best manage your money and future financial security.