Financial literacy is defined as being educated about money and finance, with a special focus on an individual's personal finances. Being financially literate enables you to make smarter money management decisions that lead directly to a financially secure future, one that protects the assets built by you and your loved ones. Categories that typically come into play with financial literacy are every day financial issues like budgeting, spending, debt, taxes, retirement savings, college savings, and more.
Definition from TheStreet