Question

Carl started earning a paycheck and wants to invest some of what he earned. In this situation, why is it important for Carl to be financially literate?

Answer 1

lacking financial knowledge can be frustrating and scary. It can also cost you money. There are many benefits to becoming financially literate. Financial literacy can:

reduce stress and frustration;

save you money;

save you time;

increase the return on your invested money;

help you make smart decisions;

help you earn more money;

reduce your risk of losing money;

help you make smart purchases;

help you reach your goals.

Explanation:

Answer 2

he needs to know which investments are potentially risky to avoid making a poor decision.