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Why is Financial Literacy Important?

Roadmap To success

Financial literacy is important because we are not born with the knowledge of how to build wealth and if we are not taught and given a chance to implement what we learn then we can only remain poor. Financial literacy is not about balancing a checkbook but about building knowledge, skills, investing, and business options. Financial Literacy is also about new ways of thinking.

Starting a business is key in financial literacy because a business creates multiple streams of income. The more income coming in with the right financial advice leads to financial freedom. Obtaining financial freedom is one of the key objectives of Financial Literacy.

Investing is key to financial literacy because the investment growth provides another stream of income and growth of income. Remember there is no guarantee in investing,and anyone offering you such is not on the level usually. Investing always has some level of risk but these risk can be minimized by having the right frame of mind and knowledge and tools.

Having the right mindset is important to financial literacy because The right mindset allows you to be open to opportunities and to see them as such. If you see everything as a scam you miss out. If you think your paycheck is guaranteed you will learn in an economic downturn or when a pandemic occurs and you lose your job and your paycheck. If you have the wrong mindset and try to start a business or to invest you will lose more than you gain.

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