Financial Literacy So, what exactly is financial literacy? Financial literacy is the study of finances or money, particularly our own. The most important lesson we should all be taught and have knowledge of is how to spend our money responsibly. One of the most crucial issues of all time is financial literacy. The eventual goal is to understand how to spend less money than you make. It's essential to understand the principles of money management, including how to set up a budget, save money, pay off debt, invest, and more. Information about financial literacy resources is necessary. Having a plan for your finances is also significant. Nearly two-thirds of all Americans were unable to pass a basic financial literacy exam, which asked them to calculate interest and answer questions about financial risk, according to the article "Money Matters." For me, this is common given how they expect individuals to know about money and complete financial literacy exercises and quest...