Today I learnt that financial literacy is simply being aware of where my money is.
It involves keeping tabs on savings, investments, income, expenditure and action points such as using banks. Learning Financial Literacy has several benefits that include,
Helps one understand the implication of my decisions in regards to money, It helps me plan ahead for ways to ensure my monetary reserves are strong and finally, it helps me know where and when to invest.
I have also learnt about share market where people buy and sell shares, potentially becoming owners.
Lastly, Financial literacy helps one gain independency and accountability for how and when to use their money with less risk because expenditure is monitored with financial literacy.
