Financial literacy is the foundation of personal and professional financial well-being. It involves understanding key concepts like budgeting, saving, investing, debt management, and financial planning. Without financial literacy, individuals may struggle to make informed financial decisions, leading to debt, financial insecurity, and stress. A financially literate person can manage income effectively, reduce unnecessary expenses, and prepare for future financial needs. Learning about financial literacy early in life can help individuals build wealth, avoid financial pitfalls, and plan for long-term financial security. Schools, workplaces, and governments should prioritize financial education to empower people to make sound financial decisions.
The Importance of Financial Literacy
