Understanding what financial literacy truly is, is integral to applying it well. Financial management, budgeting and investing are 3 crucial aspects of financial literacy. Being a financially literate people are also generally less vulnerable to financial fraud. A good understanding of financial literacy can aid you in various entrepreneurial goals, budgeting to pay for education, or using debt responsibly. Essential elements of financial literacy are budgeting, planning for retirement, managing debt, and tracking your own personal spending. Learn more here
