5 REASONS WHY FINANCIAL LITERACY MATTERS
“Knowledge is power. Information is liberating. Education is the premise of progress, in every society, in every family.”
Financial literacy is the knowledge you need to manage money wisely. This includes understanding the current economic environment, being aware of your financial standing , and knowing where to get the information and tools you need, when you need it. The more financially literate you are, the better your chances of staying on top of the money game.
Here are the top 5 reasons why the ability to "speak money" matters:
#1 MONEY TALKS
Financial literacy is the language of money. And like any language, you must be able to speak it in order to communicate and thrive, wherever you go. So, if you want to make money, you need to speak money. Stick with us to begin your journey towards Getting Money Smart today!
#2 OPTIONS ARE GOOD
With so many financial products and services on the market, it’s important to understand which ones are best for you. Knowledge of key terms and phrases and where to get good information will help you choose the best options based on your personal needs. Explore our glossary that equips you with the vocabulary you need to sound like a pro.
#3 SCORE FINANCIAL GOALS
Financial goals are important to your financial success. Are you trying to plan a trip to the Long Island Regatta, purchase a new car, send your child to college or retire in ten years? Financial literacy will give you the skills you need to create a realistic plan to help reach your financial goals, whatever they may be.
#4 GET OUT OF DEBT
With The Bahamas’ increasing debt-to-income ratio, learning how to manage debt is key to Getting Money Smart. Financial literacy can help you understand different types of credit products and how and when to use them.
#5 SHARE THE GOODS
You pass along everything else - clothes, genes, habits - so why not your financial knowledge? One of the greatest benefits of financial literacy is being able to share your knowledge with your loved ones and equip them with the skills to manage their money in the future. This is the secret to building generational wealth.
LIVE BETTER | GET MONEY SMART
Savings and investments are not just about planning for tomorrow. Financial literacy - the ability to manage money wisely - will give you and your family the tools and the confidence to live a better life today. Take the Get Money Smart challenge and begin your journey towards financial literacy.
