Definition

• The possession of knowledge and understanding of financial matters, mainly used in connection with all of a person’s personal finances.

• The effectual ability to make decisions pertaining to finance areas in one’s life that will generate money, how that person manages it, and how he/she invest it (turn it into more) and how that person uses it to help others.

Now that we have a basic understanding as to what financial literacy is lets take a quick look at Financial Freedom

It is generally used to describe the state of having sufficient personal wealth to live, without having to work actively for basic necessities.[1] For financially independent people, their assets generate income that is greater than their expenses.

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