What is the Meaning of Financial Education?
Financial education is a term that refers to the acquisition of knowledge and skills that are associated with the management of money, currency and capital assets. Through appropriate possession of financial education, individuals are able to make informed decisions in aspects concerning finances (saving, investing, budgeting, risk management and debt management among others) whether at the personal or organizational level. At the personal level, a person with financial education can be at a better position to attain financial well-being.
What is the Primary Purpose of Acquiring Financial Education?
People acquire financial education for the primary purpose of having the necessary skills and knowledge to manage funds, invest wisely, be in a position to planning financial matters appropriately, being able to manage financial risk, explore capital markets and as a profession to work for firms that require individuals to accomplish the stated goals. In the contemporary society, majority of the Gen Z's and Millenials acquire financial education with a side goal of becoming financially independent.
What is Finance? (definition)
The term finance according to oxford dictionary refers to the management of money, funds and other financial assets which is often attributed to large companies, organizations or governments.
Origin of the Word Finance
The name has its origins in the late Middle English particularly from the Old French. The term comes from the name finer which means to ‘make an end.’ During the initial times, it was employed when referring to payment of a debt, ransom or compensation.
