| dc.description | People's personal lives are increasingly intertwined with their professional ones, but
these financial activities are becoming increasingly dispersed and difficult to grasp
even in their most basic terms. Financial literacy refers to the ability to understand
and apply financial concepts to one's daily life. For a lifetime of financial well-being,
financial literacy is the ability to use knowledge and skills effectively to manage one's
financial resources (PACFL, 2008). A person's financial literacy can be classified as
either basic or advanced by the level of understanding they have of financial
terminology (Lusardi, 2008). Compound interest, inflation, percentages, and other
hands-on financial concepts are all part of basic financial literacy. The use of
advanced financial terms, such as stock market, bond, mutual fund, equity share, etc.,
is a sign of advanced literacy. | en_US |
