About Us
Financial Literacy is the knowledge and understanding of financial concepts, risks and skills, motivation, and ability of individuals to apply this knowledge and understanding to make effective decisions through a wide range of financial frameworks. Finlit noticed that the likelihood of making poor financial decisions increases with the inability to understand and apply basic financial concepts such as compound interest, inflation, and diversification. FinLit wants everyone to have a basic understanding of financial concepts and the ability to apply these skills to effectively manage your financial resources and improve prosperity. Public education was conceived to prepare children to be productive members of society, cultivate a skilled workforce, and allow students to compete in a global marketplace. In short, school is supposed to prepare students for the real world. However, real life concepts and problems like loans, credit, mortgage, and insurance are often skipped in most public school curriculum. This includes the commitment to self-improvement and, by extension, personal growth. Sticking to small goals gradually builds integrity. This increases ones ability to take responsibility for ones life. We want to provide this information for everyone hoping these skills will help our readers achieve financial freedom.
The Importance
Low levels of financial literacy are widespread across the world, and those most at risk for economic hardship fall within the subgroups of low income, low education, minorities, and women. These findings highlight a troubling social problem that if not properly addressed, will only increase the existing wealth gap and financial inequality. Finlit was established to provide the financial literacy information needed to start the road to financial independence.
Who Is It For?
Everyone! Sadly, most schools only teach you how to memorize information, while true education should teach you how to connect and use the information. True education should teach you how to catch a fish, but school teaches you, “Yeah, you caught the fish, but you didn’t show the work, so throw it back.” Finlit tries to share a wide knowledge of financial literacy information meant for everyone.