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What are some facts about financial literacy?
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1. Financial literacy is a vital life skill that enables individuals to make informed decisions when managing money.
2. Financial literacy includes understanding the basics of budgeting, credit, investment, insurance, retirement planning, and more.
3. In some countries, nearly half of the population is financially illiterate, meaning they don’t possess the skills to make informed decisions about their money.
4. Financial literacy can help individuals make informed decisions on how to use their money, as well as become better informed about long-term investments.
5. Teaching children about financial literacy has become increasingly important in recent years, as it can ensure they have a strong financial foundation as adults.