How to improve our financial literacy?

[Good-Person]

I agree with you, although i do not think spending is the problem, it is what we are spending on. Financial literacy entails one having the discipline to follow through the set budget. Also by prioritizing our needs and scrutinizing our wants in order of necessity.

Financial literacy also involves many other things as well. For example, having good knowledge about financial instruments and proper utilisation of those instruments also counts as a form of knowledge a person has. Usually, bankers have a lots of knowledge related to such instruments.

 

[glitch]

My wife started using a planner. She puts down all our spending, tracks bills, and ensures we are not over spending or wasting money on things like take-out and items we don't need. She also only buys things outside of food items, when they are on sale.

 

[Good-Person]

Exactly! Everything about finances all hangs on the management of money. When you are not into this process practically, it is going to be very difficult for you to understand exactly what it means to be very good when it comes to financial and accounting management. It is what's going to make you to be literate financially.

Nowadays many people also use software. I think that this could be one of the most important things and it is also one of the major aspects of financial literacy. When you tend to be financially literate, you can utilise technology as well.

 

[Bebur]

Avoid reading business coaches. I believe that they bring near to zero value. I know no BC who is also successful in building business except for selling their books and masterclasses.

 

[Heatman]

Nowadays many people also use software. I think that this could be one of the most important things and it is also one of the major aspects of financial literacy. When you tend to be financially literate, you can utilise technology as well.

Yeah, that's very correct. Before you can be able to use any technology, you must have the knowledge of how to use it. When it's a software about accounting and finance, you can't mess with it if you don't know how to use it. It makes your work very easy when you have that knowledge.