Financial literacy is an important and timely topic today. However, many underestimate it. Everyone should learn the basics of financial literacy. I often think it should be taught especially in schools. The art of managing money is not a simple matter and many people have problems with it. It is important to know your income and expenses. You need to think ahead about what you are spending money on and why, and take into account that there may be unforeseen expenses. Financial literacy is a fundamental skill. It helps to avoid problems related to debt and payments.
It is important to have something like a car in case something breaks at home. A car is a money box, so you always need to have something with you. Not only does it help you balance your finances, but it also gives you peace of mind that you have money saved up. Unfortunately, many people do not place much importance on savings. This is probably something that needs to be changed. But we understand that some people do. But at the same time, I know many people who can save but prefer to spend. That is also a matter of preference.An important skill is the fact that you can distinguish between what you really need to buy and what you want.
A budget is a valuable tool to recognize and allocate income and expenses. Therefore, if you cannot distinguish between income and expenses and do not have much knowledge about them, you can make a budget. There are many useful applications available today. Financial literacy includes distinguishing between loan and credit issues. Familiarity with various banking terms and the ability to calculate how much to pay back to the bank when borrowed. This can be done by using percentage interest. However, financial literacy is not something that can be acquired overnight. It requires a gradual process of interest and an attempt to learn little by little.
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