Education vs. Experience

 In considering what is best for happiness, should one rely on education or experience. I believe that working hard at an education can lead to a good work-life. But if one is not motivated by hard work, then what is the purpose of education? To learn, is a great task. There is much greatness in books.

But in terms of practical life, shouldn't experience be a great teacher too? In managing money, I am not sure that there is any amount of education that could teach you how to do this. Doctors are educated but do they have experience with disease, illness, and other ailments?

Education passes down through the generations what previous people have learned. Where monks and scientists were cutting people open in the 15th century to see what was inside and learn about the functioning of organs, we can now read about their discoveries in a textbook. We don't have to relive the experience of previous pioneers.

In terms of maximizing one's on life, education is great if we can afford it. I'm not sure if education can teach you how to manage money, however. I have learned through the hard knocks how to be cheap when necessary and to prioritize things like food. I have learned to fend for myself. Coming into money however, could cause that money to sleep through one's fingers, since they do not have the experience of managing that much money. Therefore, to rely on the wisdom of others through education might be valuable in understanding this. But with a topic as sensitive and close-to-home as money, it can be very challenging indeed to equip oneself successfully with the tools needed for success through book-learning.

Warren Buffet lives within his means. He does not pursue a lavish life-style, yet has assets in the hundreds of billions. I want to emulate this and live within my means. When I come into money, I want that saved. I do not want to live a lavish lifestyle. I recently spent too much money on a piece of clothing, and I regret it. I tried to "undo" the order on Amazon, but it was too late.