Financial literacy is low in Croatia. It is only in the last decade that systematic work has been done on this, while in European countries, for many years, we have been working to guide young generations. Citizens need to be taught from a young age to have a positive attitude in money because it is thus invested in the growth of the economy.
The worst are the under-19s who are not yet aware that money is easier to spend than earn, research has confirmed. Financial literate citizens will know how to avoid the financial pitfalls that lie in loan offers, sales and similar offers.
What is Financial Literacy?
Financial literacy is the ability to smartly manage finances. Using the skills learned through investing in literacy, citizens are able to manage their finances so that they achieve some financial security. In translation, they mean that they spend less than they earn and still manage to save and, if possible, save smart money. Only such citizens know how to avoid financial pitfalls.
It is important, therefore, to teach children from a young age to thrift and moderate cherry. At a later age, this means that they will learn to appreciate the money they have earned and be able to withstand stocks and sales without any difficulty. And the fact is that shopping malls and online stores are our moms every step of the way.
One hundred dollar here, one hundred dollar there … – the money goes out of pocket without us even being aware of it. It is therefore important to constantly invest in youth education in order to educate financially responsible citizens.
Fake money lending ads
Financial pitfalls have been hiding at every turn, especially since various types of money-lending institutions have emerged on the market. Disbursing cash immediately seems like a good decision, especially when you need it right away. However, this can have negative consequences. If there is no written evidence of borrowing money, there is the possibility of a variety of frauds.
It can be said that the money was not returned even though it was, it can be said that a smaller amount was returned or that the money was borrowed under different conditions. It is best to check the legitimacy of credit houses on the Good Finance’s website.
How To Avoid Financial Traps In Search Of Credit
In the search for credit, banks often advertise one thing on their websites, and it is quite another thing in the branches. These are mostly short-term offers that expire quickly and can play a role in the interest rate for a day.
How to avoid financial pitfalls in this case? – always regardless of the advertisements, the official offer of the banker should be requested. If by any chance you decide to make this offer you have proof under which conditions you have arranged a loan of money. Because there is always the possibility of changing conditions.
How to avoid financial pitfalls in contracts
Any loan of money, whether from family members or financial institutions, should be signed. This regulates the borrowing conditions and reduces the chances of circumventing the obligations.
However, the contract may have pitfalls or small letters and should be carefully considered before signing. How to avoid financial pitfalls, the question now is ?! In this case, it is best to seek the help of economic or legal experts to clarify any concerns you may have.