Financial Literacy

Financial Literacy – Financial literacy is the ability to understand, interpret, and effectively use financial information and products to make informed decisions about personal and business finances. It equips individuals with the knowledge and skills to manage money, plan investments, handle taxes, and prepare for financial goals.

Key Benefits: Enables effective budgeting, saving, and investing. Helps in tax planning and understanding financial obligations. Protects against financial frauds, scams, and poor financial decisions. Promotes long-term financial stability and independence.

Example: An individual who understands interest rates, mutual funds, insurance products, and credit management can make better investment choices, avoid unnecessary debt, and plan for retirement