Financial Literacy 101: Being Smart with Money Pays Off

The term ‘financial literacy’ refers to one’s understanding of basic financial concepts and their ability to handle money well. The statistics on how a typical American handles money are pretty bleak. Also, over a quarter of them never save any money from month to month. 75% are in some form of debt. Improving one’s financial literacy can help avoid tough situations and allow people to make the most of their earnings.