The Basics of Financial Literacy for Beginners
Financial literacy is the ability to understand and manage money effectively. It includes basic skills such as budgeting, saving, and understanding income and expenses. When people learn how to plan their spending, they can avoid unnecessary debt and make better financial decisions. Knowing how interest, loans, and credit work is also an important part of financial literacy.Being financially literate helps individuals prepare for the future. It encourages saving for emergencies, education, or long-term goals. Financial knowledge also builds confidence when making decisions about money in daily life. By learning the basics early, people can develop healthy financial habits that support stability and independence over time. Shutdown123