Financial Education

The term Financial Education refers to the knowledge and skills that helps an individual to make sound and effective decisions with respect to finance. In simpler words, Financial Education means ability to understand finance.

With Financial Education an individual becomes capable to question the complexities of finance and shape its advantages for one’s own ease.

Financial EducationThe need of Financial Education has been felt in the developed and developing nations alike. Many including government officials, teachers and organizational representatives have shown a keen interest to increase the rate of literacy regarding the finance in general public. It has been recommended to start Financial Education from the school level so that every individual may learn financial planning and management techniques and employ them for personal well being.

The rise in the need of financial education among the retired population has been steep. As many believe that money management on their own terms will prove profitable for them, further it will help them in finding good ways to put their money to a proper use.

Financial Education can bring an immense change in the standards of living of individuals and make them capable so that they are also able to afford the quality products.

In 2003, with the realization of Financial Education’s importance and how it can be used to improve financial conditions across the globe, the Organization for Economic Co-operation and Development (OECD) was established.

In March 2008, Organization for Economic Co-operation and Development (OECD) established the International Gateway for Financial Education (IGFE) which now heads the financial education programs and research worldwide.

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