In a few words, what is financial literacy?
Learn how to manage your money - know what to save, spend, and invest. Understand credit and debt, and when to use them responsibly. Develop budgeting and money management skills to reach your financial goals.
Financial Literacy: Understanding Your Finances
Budgeting: The practice of allocating money for different expenses and setting aside money for savings. Interest: The cost of borrowing money, usually expressed as a percentage of the amount borrowed. Investing: The practice of putting money into stocks, bonds, mutual funds, and other investment vehicles in order to earn a return on the money invested.
Do you think Financial Literacy should be a required subject in High School?
- Yes, it should be mandatory
- No, it should not be mandatory
- I'm not sure
Financial literacy is not taught in most schools and must be learned largely through self-education. Two-thirds of adults in the US do not know how to calculate simple interest, according to a survey by the Pew Charitable Trusts. Financial literacy can help individuals save money on taxes, fees, and insurance premiums.
Did you know?
What are some common financial mistakes that young people make?
How can you save money while still having fun?
How can you create a budget to help you manage your money effectively?
Why is it important to be financially literate?
How has your understanding of financial literacy improved since the beginning of this lesson?