Financial Literacy

A combination of financial awareness, knowledge, skills, attitude, and behaviour necessary to make sustainable financial decisions and achieve individual financial well-being. This definition is adopted by the Organisation for Economic Co-operation and Development (OECD) and is included in the National Strategy for Financial Literacy of the Republic of Bulgaria. The goal of financial literacy is to prepare people to manage their money wisely, avoid over-indebtedness, save and invest prudently, and plan for the long term (e.g., retirement, education, healthcare).