Financial literacy is the ability to understand and manage your personal finances. It includes budgeting, saving, investing, and planning for retirement. Many people struggle with money management, and this can lead to financial problems such as debt, poverty, and bankruptcy.
There are many benefits to financial literacy. Financially literate people are more likely to make sound financial decisions, save for the future, and avoid debt. They are also more likely to be financially independent and secure. There is a growing body of research that shows that financial literacy can improve financial well-being and reduce poverty.
