“An investment in knowledge always pays the best interest.” – Benjamin Franklin

Financial literacy is understanding personal finance topics such as budgeting, saving, investing, borrowing, and managing money. A lack of financial literacy leads to bad money habits such as misusing credit cards, failing to plan ahead, taking costly financial risks, etc.

Despite being so essential to making wise financial decisions, personal finance skills are, unfortunately, not taught in most schools. The onus falls upon you to educate yourself on these valuable life skills.

Improving your financial knowledge is key to financial independence as it helps you make better money decisions with each paycheque. Becoming financially literate is bound to benefit you for a lifetime!

Browse our personal finance book reviews for inspiration on the next read to improve your financial literacy and place yourself in a strong financial position.