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<div class='resp-text-wrapper'><div class='resp-text-wrapper'><p>How would you rate your financial literacy? If you haven't had much financial education, you’re not alone. Many people grow up without a solid foundation in money basics.  
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This guide can help fill in the gaps. We’ll run through the basics of personal finance, thoroughly exploring what financial literacy is, why it’s important, and the benefits of learning concepts like banking, budgeting, and managing your credit.  
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These skills can serve you well in the present—and set you up for a stronger financial future.  
</p></div></div>

<div class='resp-text-wrapper'><h1>Financial literacy basics</h1></div>

<div class='resp-text-wrapper'><p>Financial literacy is your ability to understand and manage your finances. Some skills include personal finance management, investing, and budgeting. Learning the basics of financial literacy can help you dodge debt, plan for retirement, and minimize stress.</p></div>

<div class='resp-text-wrapper'><h2>What is financial literacy, and why is it important</h2></div>

<div class='resp-text-wrapper'><h3><span class="ql-size-regular ql-font-heading05" style="color: rgb(0, 0, 0); background-color: transparent;">Budgeting </span></h3><p><span style="color: rgb(0, 0, 0); background-color: transparent;">Budgeting gives you control over your money and doesn’t have to be complicated. Tracking and planning your spending enables saving, helps you prioritize expenses, and can even improve self-control. You can track your expenses in a spreadsheet to get an idea of where your money goes daily, weekly, or monthly. There are also some great budgeting apps out there. This </span><a href="https://www.creditkarma.com/credit/i/how-to-build-credit-from-scratch/" data-wa-link="icom-fin-lit:i4e-concepts-guide-build-credit-link" data-action="interacted" data-object="content" data-ui-action="clicked" data-ui-object="link" data-ui-object-detail="guide to budgeting" data-ui-access-point="" data-sku="" style="background-color: transparent; color: rgb(0, 0, 255);" target="_blank" rel="noopener noreferrer" data-object-detail=""><u>guide to budgeting</u></a><span style="background-color: transparent; color: rgb(0, 0, 0);"> can help you get started.  </span></p><p><br></p><h3><span class="ql-size-regular ql-font-heading05" style="color: rgb(0, 0, 0); background-color: transparent;">Establishing and maintaining credit </span></h3><p><span style="color: rgb(0, 0, 0); background-color: transparent;">Your credit score is what banks use to determine whether they should give you a loan. It’s helpful to start </span><a href="https://www.creditkarma.com/credit/i/how-to-build-credit-from-scratch/" data-wa-link="icom-fin-lit:i4e-concepts-build-credit-link" data-action="interacted" data-object="content" data-ui-action="clicked" data-ui-object="link" data-ui-object-detail="building your credit" data-ui-access-point="" data-sku="" style="background-color: transparent; color: rgb(0, 0, 255);" target="_blank" rel="noopener noreferrer" data-object-detail=""><u>building your credit</u></a><span style="background-color: transparent; color: rgb(0, 0, 0);"> as soon as possible. Establishing your credit can be as easy as applying for a low-limit or secured credit card. And don’t forget to regularly keep tabs on your credit—many online tools </span><a href="https://www.intuit.com/blog/innovative-thinking/financial-tips/check-credit-score/" data-wa-link="icom-fin-lit:i4e-concepts-check-credit-link" data-action="interacted" data-object="content" data-ui-action="clicked" data-ui-object="link" data-ui-object-detail="Borrowing and repaying" data-ui-access-point="" data-sku="" style="background-color: transparent; color: rgb(0, 0, 255);" target="_blank" rel="noopener noreferrer" data-object-detail=""><u>check your credit for free</u></a><span style="background-color: transparent; color: rgb(0, 0, 0);">. </span></p><p><br></p><h3><span class="ql-size-regular ql-font-heading05" style="color: rgb(0, 0, 0); background-color: transparent;">Borrowing and repaying </span></h3><p><span style="color: rgb(0, 0, 0); background-color: transparent;">Pay back loans or lines of credit as promptly as possible to keep your debt under control. Mind your loan amounts, credit balances, and monthly payment minimums, and be cautious when borrowing money. Try to build payments for student loans, mortgages, and other larger debts into your budget from the start. Before taking on new debt, use an online </span><a href="https://www.intuit.com/solutions/education/resources/calculators/" data-wa-link="icom-fin-lit:i4e-concepts-res-calc-link" data-action="interacted" data-object="content" data-ui-action="clicked" data-ui-object="link" data-ui-object-detail="financial calculator" data-ui-access-point="" data-sku="" style="background-color: transparent; color: rgb(0, 0, 255);" target="_blank" rel="noopener noreferrer" data-object-detail=""><u>financial calculator</u></a><span style="background-color: transparent; color: rgb(0, 0, 0);"> to see how the payments might fit into your monthly spending. </span></p><p><br></p><h3><span class="ql-size-regular ql-font-heading05" style="color: rgb(0, 0, 0); background-color: transparent;">Investing </span></h3><p><span style="color: rgb(0, 0, 0); background-color: transparent;">Investing can be a great way to</span><span style="color: rgb(255, 0, 0); background-color: transparent;"> </span><span style="color: rgb(0, 0, 0); background-color: transparent;">build wealth over time and earn income after you retire. Even if you have a job at a company that provides retirement benefits, investing on your own isn’t a bad idea. Seek education on different types of investing methods, like individual retirement accounts (IRAs) and 401(k)s.   </span></p><p><br></p><h3><span class="ql-size-regular ql-font-heading05" style="color: rgb(0, 0, 0); background-color: transparent;">Taxes </span></h3><p><span style="color: rgb(0, 0, 0); background-color: transparent;">They’re an important part of our lives, but not everyone </span><a href="https://turbotax.intuit.com/tax-tips/general/video-how-to-understand-your-taxes/L6yQbE4h6" data-action="interacted" data-object="content" data-ui-action="clicked" data-ui-object="link" data-ui-object-detail="understands their taxes" data-ui-access-point="" data-sku="" style="background-color: transparent; color: rgb(0, 0, 255);" target="_blank" rel="noopener noreferrer" data-wa-link="" data-object-detail=""><u>understands their taxes</u></a><span style="background-color: transparent; color: rgb(0, 0, 0);">. Tax time can be much easier when you know how to fill out common tax forms and understand how to maximize deductions. </span></p><p><span style="color: rgb(0, 0, 0); background-color: transparent;">This is especially true for small business owners. Filing taxes properly can help business owners maximize their income and keep their businesses in good standing. </span></p><p><br></p><h3><span class="ql-size-regular ql-font-heading05" style="color: rgb(0, 0, 0); background-color: transparent;">Insurance </span></h3><p><span style="color: rgb(0, 0, 0); background-color: transparent;">Insurance policies provide businesses and individuals with protection and peace of mind. Knowing the various types of insurance—like home, auto, health, and business—and what they cover helps you choose policies that work best for you. This can spare you financial stress if life throws you a curveball and you need to file a claim. </span></p></div>

<div class='resp-text-wrapper'><h2>Personal finance concepts</h2></div>

<div class='resp-text-wrapper'><p><span style="background-color: transparent; color: rgb(0, 0, 0);">Starting down the path of financial literacy changes your life in many ways. Sure, you’ll understand things like credit and insurance and begin budgeting better, but the goal is to improve more than just your finances. It’s to improve your quality of life.  </span></p><p><span style="background-color: transparent; color: rgb(0, 0, 0);">Building your financial literacy helps you:  </span></p><ul><li><strong style="background-color: transparent; color: rgb(0, 0, 0);">Prepare for financial emergencies:</strong><span style="background-color: transparent; color: rgb(0, 0, 0);"> Learning concepts like </span><a href="https://www.intuit.com/blog/social-responsibility/the-emergency-fund-why-you-need-one-and-how-to-get-started/" data-wa-link="icom-fin-lit:i4e-benefits-emergency-fund-link" data-action="interacted" data-object="content" data-ui-action="clicked" data-ui-object="link" data-ui-object-detail="how to build and maintain an emergency fund will help you stay calm when unexpected expenses arise. And they " data-ui-access-point="" data-sku="" style="color: rgb(0, 0, 0); background-color: transparent;" target="_blank" rel="noopener noreferrer" data-object-detail="">how to build and maintain an emergency fund</a><span style="color: rgb(0, 0, 0); background-color: transparent;"> will help you stay calm when unexpected expenses arise. And they </span><em style="color: rgb(0, 0, 0); background-color: transparent;">will</em><span style="color: rgb(0, 0, 0); background-color: transparent;"> pop up. </span></li><li><strong style="color: rgb(0, 0, 0);">Set and reach goals:</strong><span style="background-color: transparent; color: rgb(0, 0, 0);"> Saving for a car, college, or your first apartment? Knowing </span><a href="https://www.intuit.com/blog/budgeting/the-basics-of-budgeting/" data-wa-link="icom-fin-lit:i4e-benefits-budget-goals-link" data-action="interacted" data-object="content" data-ui-action="clicked" data-ui-object="link" data-ui-object-detail="how to budget and plan helps you routinely cross big goals off your list. " data-ui-access-point="" data-sku="" style="background-color: transparent; color: rgb(0, 0, 0);" target="_blank" rel="noopener noreferrer" data-object-detail="">how to budget</a><span style="background-color: transparent; color: rgb(0, 0, 0);"> and plan helps you routinely cross big goals off your list. </span></li><li><strong style="background-color: transparent; color: rgb(0, 0, 0);">Make better financial decisions:</strong><span style="background-color: transparent; color: rgb(0, 0, 0);"> Once you’re budgeting, saving, and thinking long term, it gets easier to say no to impulse buys—and yes to the future you want. </span></li><li><strong style="background-color: transparent; color: rgb(0, 0, 0);">Reduce expenses:</strong><span style="background-color: transparent; color: rgb(0, 0, 0);"> Being financially literate means spotting waste and cutting back where it makes sense. You’ll learn to spend smarter and eliminate costs that keep you from getting where you want to go in life. </span></li><li><strong style="background-color: transparent; color: rgb(0, 0, 0);">Reduce financial stress:</strong><span style="color: rgb(0, 0, 0);">Finances can be a major stressor. Getting them on track helps put your mind at ease so you can focus on the finer things in life.  </span></li></ul></div>

<div class='resp-text-wrapper'><h2>Benefits of financial literacy</h2></div>

<div class='resp-text-wrapper'><p><span style="background-color: transparent; color: rgb(0, 0, 0);">Everyone makes money mistakes from time to time. But knowing what to watch for and having a plan can help you avoid the same traps down the road. Here are some of the most common money missteps: </span></p><ul><li><strong style="background-color: transparent; color: rgb(0, 0, 0);">Overspending</strong><span style="background-color: transparent; color: rgb(0, 0, 0);">: It’s tempting to spend more when it feels like everyone’s doing it. But swiping your card without tracking your balance can leave you broke before payday. A simple budget—written down or in an app—can help you stay on track. </span></li><li><strong style="background-color: transparent; color: rgb(0, 0, 0);">Neglecting savings</strong><span style="background-color: transparent; color: rgb(0, 0, 0);">: If you’re waiting to “start saving when you make more,” you’re not alone. But the longer you wait, the harder it gets. Start small. Even $10 a week adds up over time. Treat your savings like a bill you can’t skip. </span></li><li><strong style="background-color: transparent; color: rgb(0, 0, 0);">Accumulating high-interest debt</strong><span style="background-color: transparent; color: rgb(0, 0, 0);">: Credit cards can feel like free money until the bill shows up—with interest. Carrying a balance month after month costs way more than you think. If you use credit, pay it off quickly. And if you’re already in debt, focus on paying off the card with the highest interest rate first. </span></li></ul></div>

<div class='resp-text-wrapper'><h2>Common financial mistakes and how to avoid them </h2></div>

Read Credit Karma's guide to budgeting

<div class='resp-text-wrapper'><p>Budgeting involves planning and allocating financial resources, understanding income, and working toward positive financial wellbeing. You can develop skills by tracking your spending, setting goals, and making informed decisions. This hands-on experience empowers you to make informed choices for a secure financial future.</p></div>

<div class='resp-text-wrapper'><h3>Learn to budget</h3></div>

Read Credit Karma's guide to debt

<div class='resp-text-wrapper'><p>Debt can be a barrier to financial freedom. Understanding debt before you take it on and how to pay it back are important skills.</p></div>

<div class='resp-text-wrapper'><h3>Understand debt</h3></div>

Check your score

<div class='resp-text-wrapper'><p><span style="color: rgb(0, 0, 0);">Establishing and tracking your credit can help you get a home, business, or school loan. Once you establish credit, tracking your score to maintain it at a certain level is equally important. Understanding </span><a href="https://www.creditkarma.com/credit-monitoring" data-action="interacted" data-object="content" data-ui-action="clicked" data-ui-object="link" data-ui-object-detail="credit monitoring" data-ui-access-point="" data-sku="" style="color: rgb(0, 0, 255);" target="_blank" rel="noopener noreferrer" data-wa-link="" data-object-detail="">credit monitoring</a><span style="color: rgb(0, 0, 0);">, as well as how to establish your credit, are vital skills that will set you up for a blissful financial future. </span></p></div>

<div class='resp-text-wrapper'><h3>Monitor your credit</h3></div>

Learn about  TurboTax Live

View QuickBooks

<div class='resp-text-wrapper'><p><span style="color: rgb(0, 0, 0);">Financial advisors, tax attorneys, and accountants can all provide financial advice to help you stay on track and reach your goals. Whether </span><a href="https://turbotax.intuit.com/lp/ppc/1271?srqs=null&cid=ppc_gg_b_stan_all_na_Brand-BrandTT-BrandTTTTLAssistCPANearMePreparerProSpecialist-Exact_ty23-bu2-sb183_682725143508_142950094519_kwd-363251074024&srid=Cj0KCQiAnfmsBhDfARIsAM7MKi2ZA106VB0AYvfvzkJGKnAADrfx9wxi3-0QoEbpPuOSxlU23G8fUkAaAv-jEALw_wcB&targetid=kwd-363251074024&skw=turbotax%20live&adid=682725143508&ven=gg&gad_source=1&gclid=Cj0KCQiAnfmsBhDfARIsAM7MKi2ZA106VB0AYvfvzkJGKnAADrfx9wxi3-0QoEbpPuOSxlU23G8fUkAaAv-jEALw_wcB&gclsrc=aw.ds" data-ui-access-point="" data-sku="" target="_blank" rel="noopener noreferrer" data-wa-link="" data-action="interacted" data-object="content" data-object-detail="" data-ui-action="clicked" data-ui-object="link" data-ui-object-detail="filing your taxes" style="color: rgb(17, 85, 204);">filing your taxes</a><span style="color: rgb(0, 0, 0);">, making investments, </span><a href="https://quickbooks.intuit.com/live/" data-ui-access-point="" data-sku="" target="_blank" rel="noopener noreferrer" data-wa-link="" data-action="interacted" data-object="content" data-object-detail="" data-ui-action="clicked" data-ui-object="link" data-ui-object-detail="handling small business finances" style="color: rgb(17, 85, 204);">handling small business finances</a><span style="color: rgb(0, 0, 0);">, or planning for your financial future, there are many professionals and experts who can help you reach your goals. </span></p></div>

<div class='resp-text-wrapper'><h3>Ask for advice</h3></div>

View Tax Tools

View Business Tools

<div class='resp-text-wrapper'><p><span style="background-color: transparent; color: rgb(0, 0, 0);">There’s no shortage of digital resources to help you take control of your finances. Many of these tools are user-friendly and designed to simplify money management, making it easier to track progress and stay accountable. Choose the ones that align with your goals—and use them consistently to build strong habits.</span></p></div>

<div class='resp-text-wrapper'><h3>Use financial tools</h3></div>

<div class='resp-text-wrapper'><p>Financial education is a great starting point, but where do you go from there? These tactics can help you progress toward your own personal prosperity. </p></div>

<div class='resp-text-wrapper'><h2><span class="ql-font-heading02" style="background-color: transparent; color: rgb(0, 0, 0);">How to build financial literacy</span></h2></div>

Content/Intuit/All/All/Fragment/Component/c892Zw5JD/US/en_US

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Read about taking personal financial classes

<div class='resp-text-wrapper'><h3><span class="ql-font-huge ql-size-medium">Personal finance classes</span></h3></div>

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Learn effect tools for teaching financial literacy

<div class='resp-text-wrapper'><h3><span class="ql-size-medium ql-font-huge">Effective tools for teaching financial literacy</span></h3></div>

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Read about our commitment

<div class='resp-text-wrapper'><h3><span class="ql-font-huge ql-size-medium">Intuit’s ongoing commitment to financial literacy</span></h3></div>

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Read the story

<div class='resp-text-wrapper'><h3><span class="ql-font-huge ql-size-medium">Financial Literacy: Biggest Hurdle For Female Entrepreneurs</span></h3></div>

<div class='resp-text-wrapper'><h3><span class="ql-font-huge ql-size-medium">Bridging The Financial Literacy Gap: A Look at the Lack of Resources that Latinos Face</span></h3></div>

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<div class='resp-text-wrapper'><h3><span class="ql-font-huge ql-size-medium">Survey finds that people are not as financially literate as they thought</span></h3></div>

<div class='resp-text-wrapper'><h2><span class="ql-font-heading02 ql-size-medium" style="color: rgb(0, 0, 0);">Other Financial Literacy resources</span></h2></div>

<div class='resp-text-wrapper'><p>For teachers and students</p></div>

<div class='resp-text-wrapper'><p>Intuit for Education is a free and flexible financial literacy platform for high school students that offers real-world tools to get them excited about finances and build their financial confidence.</p></div>

<div class='resp-text-wrapper'><h2><span class="ql-font-heading02 ql-size-medium" style="color: rgb(0, 0, 0);">How we’re bringing financial literacy into schools—for free.</span></h2></div>