Financial literacy is the ability to understand and use money skills to maintain your personal finances. This mostly applies to simple money skills the everyday person uses, like building a grocery budget and saving for a rainy day and retirement.
Our first experiences with money typically begin when we get our first allowance or cash as a birthday gift. Most of us probably relate to saving up from mowing lawns, or some other simple venture, to buy the newest video game. Then we head to the store, grab the game, and get to the checkout where we learn about sales tax because our exact amount of $59.99 wasn’t enough.
Depending on what state you’re in, you probably learned a little more about budgeting, taxes, and how to choose a credit card with a low APR in high school economics or personal finance. For many others, your school may not have … Read the rest