Financial literacy is the possession of skills, knowledge and behaviors that allow an individual to make informed decisions regarding money. Raising interest in personal finance is now a focus of state-run programs in countries including Australia, Canada, Japan, the United States, and the United Kingdom. The Four Foundations of Financial Literacy Budgeting. Understanding how money flows in and out of your bank account is the first step toward building your financial literacy. ... Managing Debt. Debt can be a blessing and a curse. ... Saving. This is a habit that's good to develop as early as possible. ... Investing.
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