What is the importance of financial literacy in a person's life?

[TheSmartInvestor]

Financial literacy is essential as it lets you make proper financial decisions, do away with debts and make wise financial plans. It also lets you have a deep understanding of budgeting, saving, investing, risks management and help you come up with a more stable and secure financial life.

[Stockfocus]

It is a big deal to have the knowledge on financial literacy in order to make the best use of your money and to also make great financial decisions. Having such knowledgeable will prevents one from falling into debt. It will also reduce stress and unnecessary pressure.

[Festus]

It's extremely essential to be financially schooled and have financial independence. Financial literacy means you should be able to make the right financial decisions based on what you have already planned.