Question

Which of the following refers to one’s ability to understand and use personal finance information? Group of answer choices Financial well-being. Financial knowledge. Financial literacy. Financial ability.

Answer 1

Financial literacy.

Step-by-step explanation:

Financial literacy refers to how well a person understands and uses personal financial management skills. In order to be able to make proper financial decisions, a person must possess the financial skills and knowledge. Without financial literacy, individuals would lack the required knowledge and skills to carry out financial operations. Financial literacy involves aspects of personal financial management, budgeting, and investing.