Financial literacy means knowledge and understanding of various financial concepts and skills needed to make informed financial decisions. It covers a range of topics including budgeting, saving, investing, debt management and understanding financial products and services. Impact on students: 1. Improving the financial decision-making process. Financial literacy gives students the skills to effectively manage their money. By understanding how to budget, save, and invest wisely, students can make informed decisions that will help them avoid unnecessary debt and achieve their financial goals. Read more in the blog from Youth & Investing about financial literacy in schools, its impact on children, etc. 2. Increased financial confidence. With a clear understanding of financial principles, students feel more confident in their ability to manage their finances.