Financial Self-Care

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Involves taking control of your finances through budgeting, saving, and investing, as well as managing debt and seeking professional advice when necessary.

What is financial literacy?

"Financial literacy is the possession of skills, knowledge and behaviors that allow an individual to make informed decisions regarding money."

Which countries have state-run programs focused on raising interest in personal finance?

"Raising interest in personal finance is now a focus of state-run programs in countries including Australia, Canada, Japan, the United States, and the United Kingdom."

Why is understanding basic financial concepts important?

"Understanding basic financial concepts allows people to know how to navigate in the financial system."

How do people with financial literacy training manage their money?

"People with appropriate financial literacy training make better financial decisions and manage money better than those without such training."

When did the OECD start its project for improving financial education?

"The Organization for Economic Co-operation and Development (OECD) started an inter-governmental project in 2003."

What is the objective of the OECD's project?

"The objective of providing ways to improve financial education and literacy standards through the development of common financial literacy principles."

What is the International Gateway for Financial Education launched by the OECD?

"The OECD launched the International Gateway for Financial Education, which aims to serve as a clearinghouse for financial education programs, information, and research worldwide."

What alternative term is used for financial literacy in the UK?

"In the UK, the alternative term 'financial capability' is used."

When did the UK start its national strategy on financial capability?

"The Financial Services Authority (FSA) in the UK started a national strategy on financial capability in 2003."

When did the US government establish its Financial Literacy and Education Commission?

"The US government established its Financial Literacy and Education Commission in 2003."

Who are the target audience for state-run programs promoting financial literacy?

"The possession of skills, knowledge and behaviors that allow an individual to make informed decisions regarding money."

What are the benefits of having financial literacy?

"People with appropriate financial literacy training make better financial decisions and manage money better than those without such training."

What is the role of the International Gateway for Financial Education?

"It aims to serve as a clearinghouse for financial education programs, information, and research worldwide."

What is the role of the Financial Services Authority in the UK?

"The Financial Services Authority (FSA) in the UK started a national strategy on financial capability in 2003."

What is the purpose of the US Financial Literacy and Education Commission?

"The US government established its Financial Literacy and Education Commission in 2003."

What is the focus of state-run programs in different countries?

"Raising interest in personal finance."

How does financial literacy training impact decision-making?

"People with appropriate financial literacy training make better financial decisions."

What is the objective of the OECD project on financial education?

"The objective of providing ways to improve financial education and literacy standards."

What are the three aspects of financial literacy mentioned in the paragraph?

"Skills, knowledge, and behaviors."

Why is financial literacy important for individuals?

"It allows an individual to make informed decisions regarding money."