Financial literacy
The ability to understand and use financial information to make effective decisions.
Financial literacy is the ability to understand and use financial information to make effective decisions in everyday life. This capability serves as an important skill for contemporary individuals, helping them manage budgets, identify profitable investments, avoid debts and risks, and protect their rights in the financial sector.
Financial literacy increases a person's level of well-being, confidence and independence. However, literacy levels vary significantly across countries and population groups. Comprehensive measures such as education, social campaigns, online platforms and consultations are needed to improve financial literacy.
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