Financial literacy aims to teach people money management in order to generate, invest, spend, and save money.
For skills, knowledge needs to be complemented by the ability to perform tasks that support robust personal finance.
For instance, someone who is financially literate will know how to use online banking apps, request a credit report, and do something as simple as write a check.
The knowledge and skills that define financial literacy can be divided into six categories:
Spending and saving
Credit and debt