As a youth, it is important that you take the necessary steps to secure your future. Knowing the basics of finance will go a long way for you, as it prevents you from making bad decisions in the future.
Financial literacy is the combination of debt, credit, and financial management, along with the knowledge you gain to make responsible decisions. It is an important part of your life, as it will help you avoid pitfalls while managing different types of financial risks.
For instance, there are numerous types of lenders, such as credit unions, banks, brokerage firms, asset management companies, and insurance providers. As you have to pick from the lot, financial literacy will help you make the right decision, rather than resorting to guesswork.
On top of that, the market is quite volatile, as things change on a regular basis. Understanding how things work will help you stay ahead of the game while keeping confusion at bay.
Another important topic in financial literacy is budgeting, as it allows you to plan for the future. You need to learn where you can save money so that you can cut down on unnecessary expenditures.
If you look at some of the most successful people in the world, you will find that all of them are financially literate. To emulate their success, understanding the ins and outs of financial literacy is important.
Amara Community Youth Association (ACYA) has a financial literacy program which allows you to unlock the secrets of paying off your income tax, repaying your debt, managing your credit and budget. We make it easy to understand and digest the differences between all your needs and wants, so that you are equipped to make sound financial decisions.
Become a part of Amara Community Youth Association (ACYA) to gain the necessary knowledge which will help you climb the ladder of success in no time!