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  1. Financial Illiteracy Understanding the Negative Impact 2023
  2. INTRO Have you ever been in a situation where you were confused about your finances? This is a common issue faced by many people due to a lack of financial literacy. 2023 2
  3. - Financial illiteracy affects millions of people around the world. A recent study found that almost half of adults in the US are unable to accurately answer basic questions about personal finance. CONTEXT 3 - Additionally, it has been estimated that over $200 billion is lost each year due to financial illiteracy.
  4. The negative effects of financial illiteracy are far-reaching and can have serious implications for individuals, businesses, and society as a whole. Financial illiteracy can be compared to a virus, spreading and infecting people's finances, leading to a weakened economy. ARGUMENTS 4
  5. 5 EVIDENCE Financial illiteracy can lead to an increased risk of fraud and identity theft, as well as an inability to save for retirement or make informed investment decisions. Furthermore, it can cause individuals to take on too much debt, leading to unmanageable levels of debt and even bankruptcy.
  6. Some people may argue that financial illiteracy is not a major problem, but the evidence shows otherwise. 6 CONTREARGUMENTS It is important to recognize that financial illiteracy can have long-term consequences, such as reduced economic growth and decreased social mobility.
  7. We must take action to address the issue of financial illiteracy and ensure that everyone has access to the tools and resources they need to make informed financial decisions. Let us work together to empower individuals to become financially literate and create a stronger, more resilient economy. IMPLICATIONS 2023 7
  8. - For example, in the US, there are numerous initiatives aimed at increasing financial literacy, such as the Financial Literacy and Education Commission. - This commission works to provide resources and education to help people understand and manage their finances. CASE STUDY 8
  9. 9 - In the future, we can expect to see more initiatives like this, as well as new technologies and services designed to help people become more financially literate. FUTURE - With these tools, we can empower individuals to make informed decisions about their finances and build a brighter future.
  10. To sum up, financial illiteracy is a serious issue that must be addressed. By providing resources and education, we can empower individuals to become financially literate and create a more secure and prosperous future. 10 2023
  11. 11 2023 Thanks! Do you have any questions? ARSHAD MEHMOOD +39-3510906787 2023