financial skills write for us
Trust Corporate, an organizational consultancy expert in financial and legal issues, has released five essential financial competencies so that people can plan adequate financial health this 2021.
Check out more information on personal finance.
Financial skills refer to various aspects of behavior linked to how people manage their resources. Also to how they make decisions related to money. They include the factors they consider and the skill sets they use.
The Determinants of Financial Well-being Report of the Development Bank of Latin America analyzes the financial capacities of people. It reported that the average economic well-being score for the seven Latin American countries surveyed is 59 on a scale of 0 to 100.
The highest scores are in Chile and Colombia, followed by Bolivia, Peru, Ecuador, Paraguay, and Argentina.
Developing essential financial skills is necessary for analyzing economic risks and opportunities. Also, to make planned and informed decisions, improve well-being and quality of life and obtain benefits with money, such as creating wealth.
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