What is the difference between a financial education and a financial literacy?

What is the difference between a financial education and a financial literacy Introduction: The Overlapping Yet Unique Concepts Hello everyone! Welcome to our channel. Today, we have an interesting topic to discuss - the difference between financial education and financial literacy. While these terms might seem similar, they encompass different aspects of financial knowledge. So, let's dive in! Defining Financial Education: The Foundation Financial education refers to the structured learning process that equips individuals with comprehensive knowledge about various financial aspects. It often involves formal courses, workshops, or programs that cover topics like budgeting, investing, and understanding financial markets. The goal of financial education is to provide individuals with in-depth knowledge and skills to make informed financial decisions. Exploring Financial Literacy: The Practical Application On the other hand, financial literacy focuses on the practical application of financial knowledge. It is the ability to understand and use financial concepts in real-life situations. Financial literacy encompasses skills like managing personal finances, reading financial statements, and making informed choices about loans or investments. It's about being financially capable and confident in day-to-day financial matters.