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What is consumer and financial literacy?

April 26, 2017consumer financial Literacy

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What is consumer and financial literacy?

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Consumer and financial literacy is about having the knowledge and skills to make good decisions about using and managing your money. As consumers, we also need to be able to make responsible choices and understand our rights and responsibilities. The Consumer and Financial Literacy Framework defines consumer and financial literacy as:The application of knowledge, understanding, skills and values in consumer and financial contexts and the related decisions that impact on self, others, the community and the environment.