STOCKHOLM, SWEDEN, November 21, 2022 /EINPresswire.com/ -- Money is hard to come by and when it is earned, it is important to look after it! With inflation rates, surging higher, global central banks raising interest rates, cryptocurrencies plummeting, and stock markets significantly lower through 2022, never has financial literacy been more important. So, what is financial literacy and why is it important? And where os it possible to find trustworthy, educational and information sources on the financial markets?

What is Financial Literacy?
Why is Financial Literacy Important?
Where Can You Source Reliable Education and Information

What is Financial Literacy?
Financial literacy is the capacity to comprehend and effectually use different financial skills, incorporating investing, financial budgeting, and personal finances management. Financial literacy is an ongoing, never-ending journey of learning about personal relationship with money. And the sooner investors get on this path of learning, education and financial proficiency, the better will be the long-term benefits, because when it comes to money, knowledge, wisdom and education are all critical to being successful.

Why is Financial Literacy Important?
From a bigger picture perspective, financial literacy aims to enable individuals, empowering them to be able to make shrewd choices regarding their personal finances. But it is possible to define some more specific reasons why it is important to improve financial literacy.
• Financial literacy can help investors reach financial and monetary objectives and goals
• Financial literacy raises the confidence levels of individuals
• Financial literacy can help to avert harmful financial errors
• Financial literacy can help prepare for possible, future crises

Where Can You Source Reliable Education and Information
There are many ways to become more literate financially. Investors could go on an education course, but they should ensure to check that it is endorsed or accredited by a reputable provider. Check that whichever academy, school or college is being considered, that the educators are well qualified and have solid, reputable, financial market backgrounds. Another resource is the mainstream media, with companies such as Forbes, Barron’s and The Financial Times often providing educational pieces. It may be useful to look at online offerings, where sites such as Investopedia.com and FxExplained.co.uk do a great job in providing free and high quality, financial literacy content for the investor and trader. And finally, it might be used to find a mentor, a member of the family or a trusted friend or colleague, who could help as a guide in personal financial matters and help raise financial literacy

Financial Literacy Takeaways
• Financial literacy is the ability to better understand relationships with money.
• Financial literacy is super important in an ever more complex world, where financial markets are becoming more important and mainstream.
• Individuals should look to find a resource to help them with their financial literacy that they are sure is trustworthy and at a level they are able to understand, and do not find too taxing.

No matter which path is chosen in improving financial literacy, be carful not to view this personal development as a chore, but rather embrace this as a way of making life better now and in the future.

Steve Miley
OptiLab Partners AB
email us here

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