Why is financial literacy important?

QuestionsWhy is financial literacy important?
Priya Vishwas asked 9 months ago
   
3 Answers
Nikhil Rawat answered 9 months ago
Financial literacy is important because it allows people to understand how their money works and what they can do with it. This understanding helps people make better decisions when it comes to managing their finances, which leads them toward a more financially secure future.  
Akshaj Singh answered 9 months ago
Many people are still unaware of the importance of financial literacy. It is important to learn how to manage your money, especially as you get older. It’s not only about understanding the math behind it, but also about planning for your future and knowing what you can do to avoid debt.  
Deepak Goyal answered 9 months ago
Financial literacy is the ability to understand, manage, and protect one’s financial resources. It is an essential life skill that will help individuals and countries to have a better understanding of their financial future. Financial literacy is important for both individuals and the society as a whole. It helps people to be financially responsible, more efficient with their money, and save more for the future.