Financial literacy alludes to the capacity to comprehend and apply distinctive financial skills adequately, including individual financial management, budgeting, and saving. Financial literacy cause people to become independent, with the goal that financial dependability can be cultivated.

Financial literacy alludes to the capacity to comprehend and apply distinctive financial abilities adequately, including individual financial management, planning and saving. Financial literacy cuases people to become independent, so financial steadiness can be refined.

Many people would like to know what financial literacy is, but they do not know where to look. Financial literacy is an important skill that is essential for living a comfortable life, and it can be broken down into three main parts: basic numeracy, understanding the importance of money, and knowing how to budget your money. Basic numeracy entails knowing how to do simple math such as adding fractions or multiplying mixed numbers.

Financial literacy is of the essence. We all handle finances, throughout our life we need to make choices and buying decisions, as well as save money, invest etc. Being financially literate is having the disposition of planning your finances carefully and wisely, so that you can lead a good life where you can handle expenses and be able to save money too. Here comes the importance of budgeting and planning.