Financial Literacy is a convergence of finance, credit and debt management. It covers a vast area of our lives such as understanding how to check the bank accounts, what it means to use a credit card and how to avoid falling in debt. It impacts the daily issues an average family makes when trying to balance a budget, buy a home, fund the children’s education and ensure an income at retirement.
Economics machine is basic, but it is not understood by people and so it leads to economic misery. Although the economy seems complicated, basic transactions guided by human existence, and replicated trillions of times, underpin it.
Investment is the action or process of investing money for profit. It is an act of using money to work, grow, start or expand a project or business or even sometimes the purchase of an asset with a single goal which is to increase the income or wealth.
Taxes are the fees levied on individual or corporation by the government in order to help fund public works and services—and to build and maintain the infrastructures used in a country—the government usually taxes its individual and corporate residents. The tax collected is used for the betterment of the economy and all living in it.
Money is an essential tool. It decides and helps you to achieve your goals or dreams. It also can provide comfort and stability for your family and you, make your future brighter and allow you to be prepared for important event/milestones.