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Financial literacy is the possession of skills, knowledge, and behaviors that allow an individual to make informed decisions regarding money. Financial literacy, financial education and financial knowledge are used interchangeably. [1] Financially unsophisticated individuals cannot plan financially because of their poor financial knowledge.
Kids learn a lot of important skills in school, even before heading off to college. But for some reason, personal finance usually isn't one of them. Though knowing the Pythagorean theorem can...
There's a good chance you didn't learn much -- or anything -- about personal finance in school. This could explain why many Americans aren't great at managing money. Find Out: 10 Genius Things ...
Revisiting Written Financial Plan Regularly: Make monitoring a financial plan regularly a habit. An annual financial planning review with a professional keeps people well-positioned and informed about the required changes, if any, in personal needs or life circumstances. It would be best to be prepared for all the sudden curve balls life throws.
The knowledge economy, or knowledge-based economy, is an economic system in which the production of goods and services is based principally on knowledge-intensive activities that contribute to advancement in technical and scientific innovation. [1]
Financial independence is a state where an individual or household has accumulated sufficient financial resources to cover its living expenses without having to depend on active employment or work to earn money in order to maintain its current lifestyle. [1]
Managerial finance [29] is the branch of finance that deals with the financial aspects of the management of a company, and the financial dimension of managerial decision-making more broadly. It provides the theoretical underpin for the practice described above , concerning itself with the managerial application of the various finance techniques .
Regarded as a seminal work, [6] [7] [8] "The Use of Knowledge in Society" was one of the most praised [9] and cited [10] articles of the twentieth century. The article managed to convince market socialists and members of the Cowles Commission (Hayek's intended target) and was positively received by economists Herbert A. Simon, Paul Samuelson, and Robert Solow.