Definition

The understanding of financial concepts like budgeting, investing, and credit management to make informed money decisions.

What to consider

  • Invest time in understanding basic financial concepts.
  • Utilize trusted resources to improve your money management skills.
  • Apply what you learn to make more informed decisions.

Real world scenarios

  • After attending a community workshop, Ethan’s improved financial literacy empowered him to create a realistic budget and invest wisely.

Related terms

Financial Coaching & Mindset