By Alison Vaughn

There were 2,825 billionaires in the world in 2019, up 8.5% from 2,604 billionaires in 2018, according to market research firm Wealth-X. That’s the most billionaires there have been since Wealth-X began tracking the numbers in 2010

Thus, it means one should learn about earning money, making money and becoming a millionaire or a billionaire. Eventually, the aim is to make money, while there is no subject in the education system highlighting money management, investment, or ways to make money, etc.

There are people making money and they are of two types: Book smart or Street smart.

Book Smart refers to a person highly educated, intelligent and is best with academics. This person views and takes all his decision intellectually, using facts, insights or knowledge gained from structured experiences or books.

Street Smart refers to a person using common sense. This person views things as it is acceptable in real life and deals matters from practical direction taking pragmatic consideration. Intelligence for him is from personal experience and real life

Books and education

Do you know why we go to school? Of course, to study and Why do we have to study? To acquire a job and finally Why do we have to get a job? To earn money.

  • Book smarts refer to schooling and education, besides other knowledge he or she has acquired. It is a sort of facts or ideas as a theoretical understanding.
  • Street smarts refer to dealing with potential issues relying on essential knowledge and experience. They use common sense.

What is exactly common sense? It is a natural ability of making good judgments and behaving in a sensible and practical way.  There is a need to be street smart so that you use your common sense. Running by the book is not always possible. It is overemphasizing the book knowledge.

Using common sense allows exploring and learning, you gain confidence and learn making decisions. It may be wrong or right, but you know and sets in your mind a positive impact.

Being book smart is a want and being street smart is the need of the hour. Here are a few tips to survive as street smart using common sense:

  • It is possible only if you trust yourself. Handle challenges confidently using common sense.
  • Keep away the emotions. Only then you can pay attention and make proper decisions.
  • Avoid complicating, it worsens the situation. Do not over analyze, instead handle it suitably.
  • Act smartly, see how you can do things effectively.

Common sense is a must for survival. It increases your height of success in all the disciplines and spheres of life.

Alison Vaughn is founder of Detroit-based Jackets for Jobs, Inc., a nonprofit that provides career skills training and clothing to job seekers. Jackets for Jobs, Inc is recognized by ABC’s The View, NBC’s Today Show and NASDAQ  as a worthy organization to support. Vaughn is a sought after public speaker and community advocate. She is a Comcast Newsmaker, Goldman Sachs Scholar and honored as Crain’s Notable women in Non-Profits. She’s also been featured in Entrepreneur & Fortune Magazine.