education
Essential Financial Literacy Skills
Michael Chen •
#financial literacy
#personal finance
#money management
Essential Financial Literacy Skills
Financial literacy is the foundation of economic empowerment. Here are the key concepts everyone should understand.
Core Financial Concepts
-
Budgeting Fundamentals
- Income tracking
- Expense categorization
- Savings allocation
-
Understanding Credit
- Credit scores
- Interest rates
- Responsible borrowing
-
Investment Basics
- Risk vs. return
- Diversification
- Long-term planning
Practical Steps
- Track your spending for 30 days
- Create an emergency fund
- Set SMART financial goals
- Review your credit report regularly
Remember: Financial literacy is a journey, not a destination. Start with these basics and build your knowledge over time.