The Importance of Financial Literacy

  • In spite of having same Environment, Time and Education, we find this greed disparity of Richness and Poorness.
  • The people who use financial technique’s & knows utilization of money are financially strong and get success in their life.
  • Financial literacy makes you 100% rich. Without financial literacy nobody has become rich & sustain to be rich.
  • Financial literacy is the ability to understand how money works for you, how someone makes, manages and invests money.
  • Unfortunately, many Indians are unfamiliar with even the most basic economic concepts needed to make saving and investment decisions.
  • Financial literacy is something we can benefit from at all stages of life.
  • Financial literacy is required to understand how money works and how it can work for you even when you’re sleeping.
  • Research studies across countries on financial literacy have shown that most individuals (including entrepreneurs) don’t understand the concept of compound interest and some consumers don’t actively seek out financial information before making financial decisions.
  • Lack of financial literacy education is responsible for lack of money management skills and financial planning for business and retirement.
  • From saving for a college education to getting by in retirement, many people today are feeling extreme financial anxiety and are looking for answers.
  • Most potential retirees lack information about saving and investing for retirement. Many people fail to plan ahead and they take on financial risks without realizing it.
  • Financial education can benefit consumers of all ages and income levels. For young adults just beginning their working lives, it can provide basic tools for budgeting and saving so that expenses and debt can be kept controlled.
  • Financial education can help families acquire the discipline to save for their own home and/or for their children’s education.
  • It can help older workers ensure that they have enough savings for a comfortable retirement by providing them with the information and skills to make wise investment choices with their individual pension and savings plans.
  • Whether you are uneducated or educated, employed or businessman , if you are in financial worries then you need to be financial literate.