collocation · academic
financial literacy
/fəˈnænʃəl ˈlɪtərəsi/fi·NAN·cial LIT·er·a·cy
The ability to understand and use various financial skills, such as budgeting, saving, and investing.
Examples
“Improving financial literacy among young people can reduce levels of personal debt.”
“Schools are being encouraged to include basic financial literacy in the curriculum.”
“Financial literacy helps individuals make informed choices about loans and savings.”
Band 8 sentence
“Addressing the gap in financial literacy is essential if policymakers want to reduce household vulnerability to predatory loans.”
Collocations
- improve financial literacy
- basic financial literacy skills
Word family
Common mistakes
financial literacyies→financial literacy
financial knowledge→financial literacy
Say it for a higher band
5money knowledge→6financial knowledge→7+financial literacy
Synonyms
money management skills
Easily confused
financial education
“The government launched a financial education campaign for teenagers.”
Related words
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In Shopping & Money
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