Which is the first step toward financial literacy?

Question

a. tracking your income and expenses.
b. learning the different representations of money.
c. developing a diverse investment portfolio
d. creating a trust fund for your kids.

Answer 1

The first step toward financial literacy is a. tracking your income and expenses. This foundational step helps you understand your financial situation, identify patterns in your spending and saving, and create a budget, which is essential for making informed financial decisions.