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Financial Literacy - An Essential Life Skill
Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. It is a lifelong journey of learning that helps individuals make informed decisions about their finances.
Financial literacy is important because it can help people avoid financial pitfalls and make sound financial decisions.
Financial literacy can be acquired through various means such as formal education, online courses, books, and workshops. The Canadian government has a National Financial Literacy Strategy that aims to create a more accessible, inclusive, and effective financial literacy ecosystem for all Canadians. The strategy includes a 5-year plan with actionable steps to advance each ecosystem priority and key consumer building block of the National Strategy.
In conclusion, financial literacy is an essential life skill that can help individuals manage their finances effectively. It is important to learn about personal finance management, budgeting, and investing to make informed decisions about money. There are various resources available to acquire financial literacy such as formal education, online courses, books, and workshops. The Canadian government has a National Financial Literacy Strategy that aims to create a more accessible, inclusive, and effective financial literacy ecosystem for all Canadians.
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