Importance of Financial Education For Youth
Financial Education is an understanding of knowing how money is made, spent, and saved, as well as how money works. It is the technique of investing and managing worth and the skills and ability to make a decision to maintain financial resources in the best way.
Why is Financial Education important?
Financial Education provides us with the knowledge and technique we need to operate flawlessly. Without financial expertise, we won't be able to make proper decisions about business investment and procedures. And without any adequate decision and knowledge on any subject, it is impossible to be successful in that area.
Without minimum financial literacy, people make the wrong decisions or actions, and hence, they lose money saved for years and hard work. Unscrupulous life insurance agents cheat the people who don't have enough financial education. Financially illiterate people can be cheated from loans which are availed without understanding interest payments and the consequences of a default.