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What is financial education?
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[QUOTE="Phantasm, post: 333278, member: 94599"] Financial education is the process through which people are trained on how to effectively manage their personal and financial resources. It is centred on budgeting and money management, savings and investments, debt management, credit management, financial goal setting, understanding financial products, tax planning, economic concepts, risk management, estate planning, consumer rights and responsibilities as well as financial empowerment. Key Components include budgeting and money management, saving and investments, debt management, credit management, financial goal setting and understanding financial products; tax planning; economic concepts; risk management; estate planning; consumer rights and responsibilities; as well as financial empowerment. Financial education plays a significant role in individual and collective welfare because it enables individuals to be informed decision makers concerning financial matters hence avoiding typical mistakes of finance leading to attainment of their set objectives. [/QUOTE]
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