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Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.
Financial literacy is the capability to understand financial concepts and apply this skill in decisions related to savings, investment, and debt management. It is a lifelong learning process that helps individuals to build wealth wisely, manage debt, and plan for a secure future.
Financial literacy is a measure of how well you understand money topics like credit cards, insurance, and investing. The more someone understands financial basics, the more likely they are to spend below their means and save for emergencies and retirement, according to the Financial Industry Regulatory Authority (FINRA).
Financial literacy is the ability to understand and effectively use various financial skills. Browse Investopedia’s expert-written library to learn more.
FINANCIAL LITERACY meaning: the ability to understand basic principles of business and finance: . Learn more.
Financial literacy refers to myriad skills you might call on when making a choice about what to do with your money. Some of them are basic—like how to add and subtract the money you earn, spend, and save—while others involve a complex combination of calculations and risk assessment.
What Is Financial Literacy? Financial literacy is the ability to understand and make use of a variety of financial skills, including personal financial management, budgeting, and investing.