Learn about financial literacy, including its importance, scope, and benefits. Here's a high-level overview on becoming financially literate. : “The best investment you can make, is an investment in yourself... The more you learn, the more you’ll earn.” —Warren Buffet Financial literacy refers to the ability to understand and effectively use various financial skills, including budgeting, saving, investing, debt management, and understanding financial concepts. It is a crucial element for individuals to achieve financial well-being. It empowers people to take control of their financial lives and navigate the challenges and opportunities that arise.