Pandemic has ben a hard time but has also been a duration full of lessons. It has taught us the significance of family, freinds and connections. It has motivated us to learn new skills to cope with a completly online world. But, most of all- it has made us aware of the financial wellbeing.
The path to improving your financial wellbeing, however, is frught with shaky financial knowledge, negative perceptions and uninformed decisions.
Improve financial knowledge
Did you know only 10 to 24% of population is financially literate?
This means more than 75% of our population is deprived of financial wellbeing.
They……….
- Does not actively save
- Does not have credit discipline
- Does not understand key financial concepts
- Does not invest to beat inflation and achieve goals
- Does not plan and invest for retirement.
This lack of knowledge is impeding growth, increasing debt, preventing goal achievement and causing radicle lifestyle changes post retiement. Overall, lack of financial knowledge is financially damaging.