Knowledge Tree
Relations (1)
related 2.58 — strongly supporting 5 facts
Financial literacy is fundamentally linked to investing as it is defined as a core principle of the concept [1], [2] and is recognized as a key financial skill that empowers individuals to make informed investment decisions [3], [4]. Furthermore, the academic study of financial literacy is directly integrated into the broader field of investor behavior and financial planning [5].
Facts (5)
Sources
Financial Literacy: The Guide to Managing Your Money - Annuity.org annuity.org 3 facts
claimThe five principles of financial literacy are earning, saving and investing, borrowing and managing debt, spending and planning, and protecting assets.
claimFinancial literacy is important because it empowers individuals to make informed and responsible financial decisions, including understanding concepts such as budgeting, saving, investing, and debt management.
claimThe five principles of financial literacy are budgeting, saving, investing, managing debt, planning for the financial future, and protecting assets through risk management.
Financial Behaviour: The Psychology Behind Your Money ... jamalta.org 1 fact
referenceIndividuals with a strong understanding of financial concepts such as budgeting, saving, and investing are better equipped to make informed decisions and achieve financial goals, according to research by Lusardi and Mitchell in 2014.
Understanding Behavioral Aspects of Financial Planning and Investing financialplanningassociation.org 1 fact
referenceMichael S. Finke and Sandra J. Huston's chapter 'Financial Literacy and Education' in the book 'Investor Behavior—The Psychology of Financial Planning and Investing' (2014) discusses the role of financial literacy and education.