Bigthink - Idea Comments Feed

Comment on: Re: What defines financial literacy?

Bigthink — Fri, 04 Apr 2008 20:29:13 +0100

I think having a balanced check book is a start!!

Comment on: Re: What defines financial literacy?

Bigthink — Fri, 04 Apr 2008 02:03:51 +0100

Financial literacy (responsibility) has been in decline for the past 15 years.

Why?

Every time a financial crisis has emerged over that period, Central Banks have intervened, injecting large amounts of liquity and dropping interest rates to Save The Market.

The Central Banks effectively took a large amount of financial risk out of the market place, and the market reacted by simply doubled and tripling their bets. Banks, business, individuals threw away the rule book of commonsense. They thought they couldn't loose.

What we are witnessing now in the market place today is an enormous practical tutorial in financial literacy.

Comment on: Re: What defines financial literacy?

Bigthink — Thu, 03 Apr 2008 13:49:38 +0100

Budget, Saving income, managing credit card debt, proper insurance, having a will. How come it all seems so simple and basic and yet no one breaks it down this easy for me.