This course will provide a comprehensive overview of financial literacy and its importance in today's world. You will learn about the basics of financial literacy, including budgeting, saving, investing, and managing debt. You will also explore the different types of financial products available, and how to make informed decisions
Financial literacy is the possession of skills, knowledge, behavior, and attitude that allow an individual to make informed decisions regarding money. Financial literacy, financial education, and financial knowledge are used interchangeably. Financially unsophisticated individuals cannot plan for their future because of their poor financial knowledge. Financially sophisticated individuals are good at financial calculations; for example they understand compound interest, which helps them to engage in low-credit borrowing. Most of the time, unsophisticated individuals pay high costs for their debt borrowing.