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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » What Is Financial Literacy?

What Is Financial Literacy?

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1What Is Financial Literacy? Empty What Is Financial Literacy? Sat Aug 22, 2020 12:25 am

Don't Be Poor

Don't Be Poor
Equity Analytic
Equity Analytic
Financial literacy is the ability to understand and effectively apply various financial skills, including personal financial management, budgeting, and investing. Financial literacy helps individuals become self-sufficient so that they can achieve financial stability




KEY TAKEAWAYS


  • Financial literacy is the ability to understand and properly apply financial management skills.
  • Effective financial planning, properly managing debt, accurately calculating interest, and understanding the time value of money are characteristics of being financially literate.
  • The primary principles of financial literacy include learning how to budget, track spending, effectively pay off debt, and properly plan for retirement.
  • Financial illiteracy contributes to people making poor financial decisions and becoming victims of abusive financial practices.

http://sceinvesting.com

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