Which is the first step toward financial literacy?(1 point)

Question

Responses

tracking your income and expenses
tracking your income and expenses

learning the different representations of money
learning the different representations of money

developing a diverse investment portfolio
developing a diverse investment portfolio

creating a trust fund for your kids

Answer 1

The first step toward financial literacy is tracking your income and expenses. This foundational practice helps individuals understand their financial situation and lays the groundwork for making informed decisions about budgeting, saving, and investing.