Define financial education and mention its importance.
1 Answer
Financial education refers to the knowledge or skill required for financial transaction. Financial education includes opening a bank account, using ATM card, share transaction, information related to insurance, borrowing bank loan, Utilization of capital, running industries, trade and commerce, etc. It is also called financial of capital, running industries, trade and commerce etc. It is also called financial literacy.
Importance of financial education:
- Financial education provides business knowledge to an individual.
- A person can make proper utilization of the property.
- Any business, trade, industry or factory can be conducted.
- Various sources of earning can be identified.
- It develops self confidence in an individual.
- It also helps to raise living standard of an individual.
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