eng
competition

Text Practice Mode

Bansod Typing Chhindwara

created Sep 15th 2020, 11:20 by bansodtyping


8


Rating

203 words
33 completed
00:00
We go to schools, colleges, universities to complete our educated and start earning our livelihood. We take up jobs, practice professions or start our own businesses so that we can earn money to make our living. But which of these institutions make us capable of managing our own hard-earned money? Probably a very few of them. Our ability to effectively manage our money by drawing systematic budgets, paying off our debts, making buying and selling decisions and ultimately becoming financially self-sustainable is known as financial literacy. Financial literacy is knowing the basic financial management principles and applying them in our day-to-day life. From simple practices like keeping a track of our expenses and understanding the need to spend money if we like a product to striking a balance between the value of time saved and money lost, paying our taxes and filing of tax returns, finalizing the property deals, etc everything becomes a part of financial literacy. As human beings, we are not expected to know the nitty-gritty of financial management. But managing our own money in a way that it does not affect us and our family in a negative way is important. We certainly do not want to end up having.

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