Phase IFoundation
Background
Overview
Financial literacy is fundamental for empowering citizens, reducing financial exploitation, promoting financial inclusion, and fostering sustainable economic growth and stability. It is a cross-cutting theme relevant to social justice and economic development (GS2 and GS3).
Financial literacy refers to the ability of individuals to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. It is crucial for making informed financial decisions, promoting financial inclusion, and ensuring economic well-being.