Question

If you haven't already, take a look at your score on the self-assessment you took earlier in this lesson. Study the feedback for each item. In the text box below, enter a brief statement about any misconceptions you've had about what it means to be financially literate. Also, enter a brief statement about financial habits or attitudes that you discovered about yourself–both good and bad.

Answer 1

Some of the misconceptions about being financially literate is "having big amount of money". Being financially literate does not really tantamount to being rich. It means that you know proper handling of money, including all the good and bad practices. Some bad practices about handling money is making it idle and not investing it in something that would let it grow.