Financial literacy
Definition
Financial literacy is the ability to understand and use financial skills, like understanding how to budget, having an emergency fund, knowing about responsible borrowing and how to manage debt, understanding the difference between saving and investing, and how to use both to set and reach financial goals.
We acknowledge and thank the FMA, Dr Karena Kelly and Brook Taurua Grant, the RBNZ and the Māori Dictionary for their research which helped us with te Reo Māori kupu for this glossary.
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