In today’s fast-paced world, managing money wisely has become more critical than ever. Financial education is the process of learning how to manage personal finances effectively, covering topics like budgeting, saving, investing, and debt management. As the global economy grows more complex, financial literacy is no longer optional—it’s essential.
The Current State of Financial Literacy Worldwide
According to various studies, a significant portion of the global population struggles with financial literacy. Many people lack basic knowledge about budgeting, saving, and managing debt, leading to poor financial decisions and increased economic vulnerability. From rising personal debts to inadequate retirement savings, financial illiteracy has far-reaching consequences.