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What is financial literacy?
Each of us has dreams and life goals. They may be different- a successful business, secure life, serene old age, better education for our children, nice home, exotic trips. We have in common, though, that in order to achieve them, we should be able to"finance" them. This means that it`s necessary to have sufficient financial knowledge and skills, in other words, to be financially literate enough, to be able to make the best financial decisions for us and effectively manage our personal finances.
Financial literacy is defined as the sum of financial knowledge and skills that helps us understand the financial risks and opportunities, to make rational and informed decisions, to know where we can get help and to be able to take other effective actions to increase our well-being.
