Be your own accountant. Learning financial literacy
Rubryka talked to experts about the science of managing funds correctly on International Accounting Day
Every year on November 10, teachers, students, graduates of specialized educational institutions, and auditors, former and current employees of private and public organizations celebrate their professional holiday. It's the second professional holiday for Ukrainian accountants because apart from the international one, we also have a national holiday celebrated on July 16, the day the law "On accounting and financial reporting in Ukraine" was adopted.
Accounting is directly related to financial management, and we, as ordinary people in the accounting world, interact with this field much more often than we think. We asked experts what the difference between financial literacy in business and at the household level is. Here is the answer, given by a financial success coach, the founder of gotraining.ua, and the financial advisor of iplan.ua, Oleksandra Hudzevych:
"There are many foundation similarities between personal finance and business finance. A financially literate person understands the general principles of how the world works, which means they can cope with both the funds and business. Can financial literacy help to get rich? As one of the knowledge components, yes. It's important to be able to pump discipline in yourself; without it, no knowledge works," the expert believes.
So, financial literacy is the ability to manage funds properly. Financial literacy (FL) is about discipline, the ability to manage current funds, and investing capital. Oleksandra Hudzevych spoke about the basic skills and rules that everyone should know.
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