ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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They have high debt and low savings
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They understand the basics of personal finance and money management
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They almost always choose stocks and bonds that increase in value
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They achieve all of their financial goals
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Detailed explanation-1: -Financially literate people are aware of their habits and do not pay for services they are not using. They sometimes ask for discounts, and get them, for being a good customer. They actively look for ways to bring costs down without sacrificing service, and they also always pay on time to avoid any penalties.
Detailed explanation-2: -What Is Financial Literacy? Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.
Detailed explanation-3: -Key Takeaways Some of the basics of financial literacy and its practical application in everyday life include banking, budgeting, handling debt and credit, and investing.
Detailed explanation-4: -Set goals and make plans to achieve these goals. Set aside savings for emergencies. Keep their financial obligations under control and do not borrow money if they are unable to repay it. Monitor their spending patterns. Understand concepts such as loans, credit cards, and debt. More items •28-Nov-2019