What is Financial Literacy?
Financial Literacy is a life skill. Just as ‘literacy’ refers to the ability to read and write, ‘financial literacy’ refers to the ability to manage basic financial matters. It’s more than being able to handle basic math (which is sometimes called ‘numeracy’); it’s about being able to put basic math to work for you, and to make smart, practical decisions. Definitions vary from person to person, but I use the term to refer to important life skills that are critical to successfully managing your money, and a basic knowledge of financial principles or concepts. Here are some examples, but there are many more!
