Answer:
Step-by-step explanation:
Financial literacy refers to the ability to understand and manage one's personal finances effectively. It involves having knowledge and skills in areas such as budgeting, saving, investing, borrowing, and managing debt. Being financially literate means being able to make informed financial decisions that align with one's goals and values, and having the ability to navigate financial products and services. It also includes being able to understand financial concepts such as interest rates, credit scores, and taxes. Ultimately, financial literacy is important for individuals to achieve financial stability, security, and success.