Financial literacy, Why ?

Sangam thapa

Financial literacy is the education and understanding of various financial areas including budgeting, capital,scheduling and various financial disciplines.nowadays,it has becoming one of the most sensitive and hot issue because it is vitally important for all individual and organization.

basically individual are able to check passbook,comprehend personal income tax and manage his daily expense,on the other hand organization are able to make cashfolw statement,costsheet,balancesheet and various financial and accounting activities.in nepal there are many programmes held by goverment,nongoverment and private sector to promote financial literacy programme like NRB with student for student and NRB strategic policy 2012-2016 also emphasis the access of financial literacy among the victim of conflict,social minorities and other class.financially literacy financially aware and empower nation that also helps to the people how to save,spend and make a rational and economic decision.It is highly influenced by the motto offering able to make informed judgements to make effective decisions regarding the use and management of money.

“Financial literacy also involves the proficiency of financial principles and concepts such as financial planning, compound interest,managing debt,and time value of money.it also helps to understand the modern banking services like debit card,credit card,mobile banking,internet banking as well as various cash and non cash method of payment.

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