What Is Financial Literacy?

Taking care of our finances is one of the most important parts of being successful, comfortable, and able to do the things you want to do in life. In order to make the most of our finances, we need to understand them, how they work, the laws and regulations that apply to them, and more. That’s where financial literacy comes in. In this article, we’ll explain what financial literacy is and why it is so important.

Financial Literacy Explained

Financial literacy is a term that is used to describe a person’s overall knowledge and understanding of finances. This includes things like personal money management, budgeting, and investing. When you are financially literate, you understand how these different aspects work and their importance in your financial success.

You can obtain financial literacy in many different ways, including working with a financial professional, reading books, researching financial content online, listening to podcasts, and more. Doing these things to gain more knowledge about various financial topics is a crucial step in achieving your goals. Some of the main elements of financial literacy include:

• Understanding how to create a budget
• Managing debt
• Planning for retirement
• Comprehending different investment strategies
• Tracking personal spending

These are only a few of the key parts of financial literacy. As with most things, the more you understand, the better able you are to make sound decisions that translate to your success.

Why Is Financial Literacy Important?

Financial literacy is important because it means that you understand your finances, you are actively aware of what is happening with them, and you are planning ahead for what you want to achieve financially in the future. When you are not financially literate, you don’t have control over your financial situation, which can lead to issues like building up debt, not having retirement savings, and more.

Charitable giving is a great way to follow in the footsteps of Christ and help others. It’s also an important part of a sound financial plan. The Canadian National Christian Foundation provides philanthropic advice and wants to connect God’s money with God’s work. 

Our staff, our leadership, our board, and our donors are all believers who want to help you manage your assets and guide you through creative giving solutions that also benefit you. We can handle non-cash gifts efficiently, getting the money into the field as soon as possible with 100% of your principal always available for your charitable grant recommendations. You can get started by opening a donor-advised fund today!

About Canadian National Christian Foundation

CNCF is a community of givers who are seeking to advance the Kingdom of God by connecting the resources God has entrusted to them with His work on earth.

Similar to other public foundations, CNCF’s difference is the commitment of its staff and directors to the Word of God, its non-denominational history and status as a Christian foundation, and its ability to allow donors to donate anonymously, at a time and gift value of their choosing.  Learn more by visiting our website.