Financial literacy is a set of knowledge about financial markets, their functioning and management, its professional participants and their financial instruments, products and services, the ability to use them in full awareness of the consequences of their actions and the readiness to accept responsibility for decisions taken.
According to a definition of the Council of June 2005 OECD, financial education is the process by which consumers or investors:
- improve their knowledge of products, concepts and financial risks;
- acquire through information, education or a lens Board, the skills and confidence necessary for:
- become more sensitive to the risks and opportunities in financial matters;
- make reasoned choices, knowingly;
- know where to find financial assistance;
- take other effective initiatives to improve your financial well-being.