Financial Literacythe Need for a National Campaign

Abstract

Financial Literacy (FL), Financial Education (FE), Financial Awareness (FA) and Capacity Building are two sides of the same coin. Terminologies are interchangeable. Nobody is born knowing how to manage money. From simple tasks like making a household budget or balancing a check book, to evaluating life insurance and selecting an investment vehicle to fund a comfortable retirement, people have to learn about personal finance in order to be successful of their incomes and assets. Mere knowledge of financial matters isn't enough, nor is simply having greater raw intelligence. There is a demand for FL camps but with limited or no supply of professional conduct in the space, the gap is widening. We need to understand that FL is all about creating demand through informed decisions.