Financial Literacy | आर्थिक साक्षरता काळाची गरज…!       

Financial Literacy | आर्थिक साक्षरता काळाची गरज…!       

Being financially literate has become the need of the hour in the 21st century.

Considering increasing unemployment, inflation, educational expenses, and rising inflation, it has become very important to be financially literate. Nowadays, being able to provide all the expenses even by working has become a precise calculation. It is becoming impossible for a common person to save some of their own money for daily expenses, house EMI, child’s education, sickness expenses, and other expenses. Even if there are savings, it has to be broken due to some reason or the other, and then at the end of the day, you never know when the ship called income sinks through the holes called expenses. In the end, your dreams and wishes remain incomplete. Those children can live a good life by becoming financially literate, investing at the right time, avoiding unnecessary things, and planning money with proper financial literacy. So let’s see how we can become financially empowered by understanding financial literacy.

Primarily all types of classes persons need to be financially literate. One of the best ways is to double the money that is lying around by investing it in the right things. Any person who accumulates a little bit of money in many ways can definitely become rich person in life and can face financial crises easily. For that, choose a source of income from anywhere and gradually start many additional businesses or alternative ways and expand them further.

Importance of financial literacy to students

• Generally, we say that when a tree is small, we can make it a fertile tree by giving it proper fertilizer and water, it is very necessary to plant the foundations of financial literacy in today’s students. If today’s generation understands how to use money, how much to use, and where to invest, then India will definitely become financially literate.

Advantages and disadvantages of financial literacy

The disadvantages of becoming financially literate outweigh the advantages. We study to gain understanding and meaning. But does education really make one financially literate? This is a big question. Even highly educated people fall victim to financial expenses when they don’t need to and become less wealthy and indebted. Therefore, one of the biggest benefits of being financially literate is that it helps in making you financially strong and leads a successful life.

Importance of financial literacy

Financial literacy is not paper-based but can be achieved through experience and proper knowledge

is financial literacy

Proper planning of your income and that income for the future is mainly called financial literacy

key information building block

• Needs are limited
• A time to think before spending
• Making the right investment
• Creating multiple streams of income