Question

What is the second step in the path to financial literacy?(1 point) responses

Answer 1

The second step in the path to financial literacy is to begin a savings program. Saving money is essential for achieving future goals and building a financial safety net.

Step-by-step explanation:

The second step in the path to financial literacy is to begin a savings program. Saving money is an important aspect of personal finance as it allows individuals to accumulate funds for future goals and emergencies. By setting aside a portion of their income regularly, individuals can build a financial safety net and work towards achieving their financial objectives.

Answer 2

The second step in the path to financial literacy is typically Budgeting and Managing Money.

It involves creating a budget to track income and expenses, managing spending habits, and understanding how to save and invest wisely.

Budgeting and managing money is a crucial step in the path to financial literacy. It involves creating a plan for how you will allocate your income, tracking expenses, and making informed decisions to achieve financial goals. This step helps individuals gain control over their finances and develop good money management habits.