Financial Literacy A Must

So as long as I have known the value of money , I have always taught to myself that I have a good relationship with money . As a child I was very good at saving , my parents werent liberal with just giving us everything we needed, they encouraged us earn from chores and save to acquire that prized possession you desired . Its something I am grateful for , but as an adult I realized that being a good saver and planning carefully and budgeting ,doesnt mean you are financially literate .

Theres so much more to financial literacy especially when your income begins to grow and you desire to have your money work for you

Being aware of the best options for you personally or your business will assist with making financial decisions that will truly be of long term benefit

I was most happy to see this course added to the Trainings as it was one of my recommendations , I ve always felt enough cant be done in terms of educating us financially no matter where in the globe you are or how well you think you can manage money

Lesson One begins with an introduction on Basic Financial Literacy

• The meaning of Financial Literacy : To have knowledge of money and how to use it wisely
• Why Financial Literacy is Important :When you understand the value of it , you would control how you use it wisely , by planning , budgeting , saving or investing
• The Key Terminology :Income , Expenditure, Saving, Investing , Budgeting
• Financial Literacy for Individuals :Helps you with managing your assets , planning how to save for future investments
• Financial Literacy for Businesses : Helps with planning how much money you will need to set up your business , to keep it running effectively and when you are able to expand

Some of the other terms and explanations given were for familiar words like

Bank : The Financial Institution which you will trust to keep your finances safe, who will advise you loan acquisition and Investments

Shares :The purchase of stocks in companies from which you can earn interest

Interest: Income earned from investing in shares , stocks, or money paid for loans given by the bank

Taxes: What you owe the government if you owe in excess of a certain income , charges attached to cost on Items you purchase ,or attached to services

Economy : The Commerical system that is build on the financies derived from trading of good s and services between countries , which governments depend on to run and maintain the financial stabiliy of their nations