1st component of financial literacy!

The first component of Financial Literacy is Financial Knowledge. Financial knowledge is about basic financial concepts such as inflation, different asset classes for investments, relationship between risk & return, portfolio diversification, long-term or short-term financial goals etc. As per RBI survey on financial literacy, educated & richer persons had better financial knowledge as did those who lived in metropolises. This is not surprising as education exposes one to several financial concepts during different stages in one’s studies whereas affluent class have varied resources at their disposal to gather knowledge about finance. At the same time, you don’t need to be highly educated like having a Masters or PHD degree to learn about financial concepts. Basic knowledge can be attained by reading about them from books, financial newspapers or online. Talking to experts and sharing information makes you better. StockGro is a great app to learn You can be a science or arts person or even a sportsperson, but still, you if want to then you can learn about basic financial concepts. It is important for the financial security of yourself and your loved ones.