financial illiteracy JUST WRITTEN FOR YOU
/fɪn.ənʃəl ɪ.lɪt.əˈræs.i/ · fin.an.cial.il.lit.er.a.cy
noun
- A lack of knowledge or understanding of financial concepts, principles, and practices. The financial illiteracy of many consumers led to a surge in predatory lending practices.
- A condition where individuals are unable to manage their personal finances effectively, often resulting in debt and financial instability. The financial illiteracy of the couple led to a series of poor financial decisions that ultimately led to bankruptcy.
Synonyms
financial ignorancefinancial unawarenessfinancial naivetyfinancial incompetencefinancial ineptnessfinancial ignorance
Antonyms
Did you know? The concept of financial illiteracy has been a major focus of financial education initiatives in recent years, with many organizations and governments working to improve financial literacy among the general public.