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Financial Literacy is ...

Personal financial literacy is the ability to read, analyze, manage and write about the personal financial conditions that affect material well being. It includes the ability to discern financial choices, discuss money and financial issues without (or despite) discomfort, plan for the future, and respond competently to life events that affect everyday financial decisions, including events in the general economy.

Vitt, Lois A., Carol Anderson, Jamie Kent, Deanna M. Lyter, Jurg K. Siegenthaler, and Jeremy Ward. 2000. Personal Finance and the Rush to Competence: Financial Literacy Education in the U.S.