Being literate in any language, like English means that you can read, write and speak English at a basic level. 

Literacy does not mean you are an expert, and you are not Shakespeare. 

Financial Literacy means being literate in the language of money. 

It is a broad umbrella term that covers critical areas such as:

  • banking
  • budgeting
  • saving
  • managing debt
  • taxes
  • insurance
  • investing
  • retirement planning
  • estate planning (for when someone dies)

You need this at a basic level to better your life and protect yourself.