Why is financial literacy important to good personal finance management?
Do you have a plan for your future? The answer is most likely a quick YES! Does that plan include a financial plan (a budget to control your spending, saving and dictate your invesments)? The answer more likely a NO! Many make plans for the future without including a financial plan in them. Why do they ignore this all important map and means to get to their goals? It's most probably because they don't have a financial literacy. What is financial literacy? Financial literacy is the acquisition of at least, a basic financial knowledge that helps you to know how to fill your needs, spend responsibly and still set aside (save) a portion of your income for the future. Why is it important to save a portion of your income? So that you can have a significant portion of capital that may be required to invest, grow and secure a lifetime financial stability Also for the sake of the protection of your investments (and your entire personal finance) against future risks...