Financial literacy, which is sometimes also referred to as financial capability, has been defined as the ability to use knowledge and skills to manage financial resources effectively for a lifetime of well-being. Financial literacy encompasses financial education-the process whereby individuals improve their knowledge and understanding of financial products, services, and concepts. However, to make sound financial decisions, individuals need to be equipped not only with a basic level of financial knowledge, but also with the skills to apply that knowledge to financial decision making and behaviors.
| Author: Government Accountability Office |
| Publisher: Createspace Independent Publishing Platform |
| Publication Date: Sep 04, 2013 |
| Number of Pages: 62 pages |
| Binding: Paperback or Softback |
| ISBN-10: 1492323578 |
| ISBN-13: 9781492323570 |
