Learning how to be financially literate can help you take charge of your finances and secure a better future. By reading and understanding this module, you will gain the necessary tools to help manage your finances and help you build a more financially secure future. The term financial literacy has been used quite often in the last few years. Many countries are adapting and implementing financial literacy programs for children and adults. Often one may hear reports about how being financially literate is important, but what exactly does that mean? Financial literacy or being financially literate means that a person has the necessary skills and knowledge to make smart decisions about money through spending and saving behaviors. The basic categories that make up financial literacy include: saving, budgeting and banking, credit cards and credit, and investing.