Question

Topics in Microeconomics such as understanding unemployment tie into financial literacy because if that day happens when your place of work closes, have you budgeted accordingly to get you through until your next job? Topics in Macroeconomics such as the value of the dollar, the Federal Reserve, Government policies, etc. influence our long-term investments and possibly our retirement benefits.

In looking at this section of Financial Literacy, in a 5-6 sentence paragraph (if it is more, that is ok), describe how you will be using the topics of Financial Literacy, whether it be Insurance, Investing, Credit & Loans, Banking, Taxes, Spending, Budgeting, and/or Employment and Education.

Answer 1

Banking would be the topic to teach about financial literacy.

Explanation:

Banking is the process of using the banks to perform transactions of your money. It can be used to save money and to apply for credit for the purposes of their own business or for personal use.

Teaching the people about these functions and purposes of the bank will help the people learn about the financial literacy and how they can make use of the functions of bank for their own benefit.