What Is Financial Literacy?
According to the National Financial Educators Council,
financial literacy is the capacity to comprehend how money is used in relation
to your own financial situation.
It may aid in bettering your behaviour and planning
when it comes to your personal money and general financial wellbeing. It can
also assist you in coming to better conclusions.
The 5 Principles of Financial Literacy
There are five principles of financial literacy:
- Earning
- Saving and investing
- Borrowing and managing your debt
- Spending and planning
- Protecting your assets
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