Financial literacy is the knowledge, skills, and confidence a person needs to make informed financial decisions. These skills are critical for every New Brunswicker, because finances are a part of everyone’s life. Everyone needs to feel confident in the basics of money management—because when you manage your financial resources effectively, you improve your economic stability and your quality of life.
Your financial “wellness” is even shown to be linked to your mental and physical wellness. Improving your financial wellbeing will improve your overall wellbeing. When you feel you don’t have control over your finances, it can be stressful—and stress has real consequences for your mental and physical health. On the other hand, when you’re confident in your financial skills, and have control over your earning, saving, investing, and credit, then you’re more likely to improve your physical wellbeing.
Take the time to learn and understand the basics of budgeting, saving, loans, credit cards, investing, and retiring. The skills will serve you well for your entire life.