Five Key Components of Financial Literacy
ShareAccording to the Financial Literacy and Education Commission, if you have these concepts down, you’re on your way to good financial health.
1. Earning – In order to be financially stable, you’ll need a source of income.
2. Spending – You should actively spend so you’re meeting all your needs, allowing for wants, and setting some aside for savings.
3. Saving - Speaking of savings, it’s important to build up some financial reserves for the future.
4. Borrowing - You should fully understand all the ins and outs of any loans you need.
5. Protecting - Those who do well with money, know how to safeguard their money.
The more you master these five key concepts, the healthier your financial life will be!
For more information about the basics of managing money, take a look at our FREE online courses about building financial capability in our online Financial Education Center.
You May Also Like

But before you jump headfirst into the car hunt, ask yourself this: are you going to lease or buy? Here are a few key factors to consider before cruising off in your new ride.

To ensure that the organization you choose for your hard-earned donation is both honest and effective, consider the following advice.

We’re here to help you understand the basics of credit reports, credit scores, and the financial factors influencing your credit outlook so you can take charge of your lending fate.