Financial Literacy and Its Importance

Abstract

Financial literacy is not an individual issue but one that affects and impacts the wider society. Financial literacy skills allow citizens to analyze financial information and make financial decisions at the individual, family, and professional levels, and to understand how the economy works on a global scale. This chapter frames a Portuguese scenario on financial literacy competencies, by presenting the results of the second survey on financial literacy skills of the Portuguese population. Results point to critical areas in which educators may have a crucial role in the development of financial literacy skills.