What Does It Mean To Be Financially Literate?

financial literacy

What does financial literacy mean?

The definition of financial literacy can vary a bit depending on the source, but it almost always centers on having the skills and knowledge necessary to make informed decisions regarding your financial resources. For the average consumer, knowing how to maintain a balanced checking account and understanding interest, credit ratings and loan terms are foundational elements of financial literacy. Consumers should also strive to ensure they are financially literate regarding their retirements, ensuring they have plans for the future and are aware how those plans are being managed.

— Shaun McGee, vice president of financial services, AAA Northeast

The AAA Deposit Program has a variety of products to help financially literate folks like you make the most of your money. Click here for more. 

Expand your financial literacy by reading more about savings accounts, then leave us a comment about how you fill the piggy bank. 

Table Of Contents

SUBSCRIBE TO YOUR AAA NEWSLETTER

Sign up and receive updates for all of the latest articles on automotive, travel, money, lifestyle and so much more!

Leave A Comment

Comments are subject to moderation and may or may not be published at the editor’s discretion. Only comments that are relevant to the article and add value to the Your AAA community will be considered. Comments may be edited for clarity and length.

YOUR EMAIL ADDRESS WILL NOT BE PUBLISHED. REQUIRED FIELDS ARE MARKED *