What is one benefit of being "Money Smart"?

Being "Money Smart" refers to having a solid understanding of financial management principles, which enables individuals to make informed and effective decisions regarding their finances. This improved understanding encompasses budgeting, saving, investing, and managing debt. As individuals become more financially literate, they are better equipped to set financial goals, create budgets, and plan for both short- and long-term needs.

While some might think that being "Money Smart" could lead to securing government grants or guarantees for loans, such outcomes are not direct benefits of financial literacy. Instead, a strong foundation in financial management can empower individuals to improve their financial stability and security, helping them to navigate the complexities of financial institutions and markets more adeptly.