In practical terms, finance refers to all of the money-related decisions consumers, businesses, and governments make on a daily, weekly, and yearly basis. Whereas an accountant would seek to analyze financial data to produce a report, a finance expert would be more inclined to synthesize that information to generate an actionable recommendation.
In other words, finance helps us make better decisions with our money and accounting enables us to keep track of it. You use finance in innumerable everyday financial scenarios, such as:. There's a real need in the United States for better financial education. Numerous studies have found that most Americans are lacking when it comes to financial literacy:.
Poor financial literacy and money mismanagement have a particularly insidious economic effect, as many experts believe elevated household debt levels are among the causes of the last recession for examples, see this report from the Federal Reserve Bank of St.
Louis and this interview with University of Chicago economist and author Amir Sufi. This lack of financial understanding among Americans is troublesome and underscores the great need for financial education.
Given such dire circumstances, it's not surprising that many people are considering studying finance. Indeed, business—the discipline that finance falls under—remains the third most popular college major in the U. Studying finance can prepare you not only for careers in the financial services sector, but also for tasks in your everyday life.
Students considering studying finance can take many different routes. Financial analysts evaluate investment opportunities for businesses and individuals, helping assess the performance of stocks, bonds, and other types of investments. They usually specialize in a specific industry, geographical region, or type of product.
Financial managers create financial reports, manage investment activities, and develop strategies for the long-term financial goals of their organization. With advances in technology, financial managers now focus most of their time on data analysis to advise management on ways to maximize profits.
But getting your degree is only the first step. Here are three things you need to know about differentiating yourself from the competition:. Remember, finance is extremely competitive, so you should do everything you can to differentiate yourself. Keeping these things in mind as your complete your degree will help you become a well-rounded professional with job-ready skills. Now that you know what it takes, are you ready to start or advance your career in finance?
Then you need to find the right finance program. Explore our programs and see how these degrees can help you accomplish your career goals. Franklin University S Grant Ave. Columbus , OH Local: Toll Free: admissions franklin. Request Information What type of program are you seeking? What is your program of interest? When would you like to start classes?
What is your highest level of education? Where did you receive or are currently pursuing your Associate's Degree? Lucia Sweden Syria Taiwan, R.
First Name. Last Name. Primary Email. Select the state where you live. Zip Code. She earned her MFA in poetry and teaches as an adjunct English instructor. She loves to write, teach and talk about the power of effective communication. Posted in Finance. Anjali Stenquist Callie Malvik Hannah Meinke This piece of ad content was created by Rasmussen University to support its educational programs.
Rasmussen University may not prepare students for all positions featured within this content. Please visit www. External links provided on rasmussen. Rasmussen University is accredited by the Higher Learning Commission, an institutional accreditation agency recognized by the U. Department of Education. You should consider a career in finance if … Finance majors need a specific skill set if they want to achieve success in this dynamic industry. You have stellar communication skills Financial discussions can get complicated.
You love to learn You get bored with repetitive tasks that stay the same, week after week. You persist No one likes setbacks, but instead of getting disheartened, you rise to the challenge. You have the heart of a teacher You love to share what you know. Request More Information. Talk with an admissions advisor today. First Name Please enter your first name.
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