Knowledge Tree
Relations (1)
related 2.81 — strongly supporting 6 facts
Debt management is explicitly identified as a core component or principle of financial literacy in multiple frameworks [1], [2], [3], and [4]. Furthermore, research studies utilize active debt management as a key indicator to measure an individual's overall level of financial literacy [5], [6].
Facts (6)
Sources
Financial Literacy: The Guide to Managing Your Money - Annuity.org annuity.org 5 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.
claimMyMoney.gov, a resource from the Federal Financial Literacy and Education Commission, focuses on five principles of financial literacy: earn, save and invest, spend, borrow and debt management, and protect.
claimAfrican Americans struggle most with insurance and risk comprehension, while debt management is their strongest area of financial literacy, according to a study by the TIAA Institute and the Global Financial Literacy Excellence Center.
Analysing the behavioural, psychological, and demographic ... - OUCI ouci.dntb.gov.ua 1 fact
procedureThe study by Ivana Katnic et al. (2025) utilized a quantitative, survey-based approach to examine the relationship between financial literacy levels and economic stability indicators, such as savings rates, active debt management, and access to financial products.