Financial Literacy: Key Skills for Managing Personal Finances

Financial literacy is the foundation of financial well-being and successful personal finance management. In today’s world, where financial decisions are becoming increasingly complex, mastering basic financial literacy skills has become increasingly important.

One of the key aspects of financial literacy is the ability to effectively budget your income and expenses. This involves creating a budget that identifies major spending categories and sets spending priorities. Budgeting helps you control your finances and avoid unnecessary spending.