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Key topics in financial literacy - Coggle Diagram
Key topics in financial literacy
The basics of budgeting
Creating and maintaining a budget is one of the most basic aspects of staying on top of your finances
Everyone can get help with keeping their finances on track from user-friendly tools
Understanding interest rates
Understanding the ins and outs of interest can impact your finances, so its an important concept to gain a better understand of early in life
If you haven't borrowed any money for college, it is helpful to check out interest rates to give you an idea of how much to borrow for college
Prioritizing Saving
Learning to save early can help you to gain knowledge
Saving early can also help you to practice and set skills you'll utilize throughout your entire lifetime!
Identifying theft issues and safety
Considering everything is digital now a-days, your financial information is more vulnerable than fraud
Understanding safety concepts, such as password protection can be the key to maintaining safe accounts
Make sure to have private accounts and secure passwords
Financial investing
Investing the money you have saved is a part of financial literacy that many are clueless about
Investing can involve risking or rewarding money through different ways, such as the sharemarket
Buying goods and services
The main reason why you need financial literacy to be able to spend money is because you need to make informed spending choices
You need to be able to read through sneaky marketing made to convince you to buy stuff
Earning income
You need to know a basic understanding of economics in order to understand what drives employees wages up or down
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