Financial literacy is an ongoing process. By learning facts about money and the mistakes that people make, you will be better prepared for life’s financial decisions. When you increase your savings, minimize your debt, and build a strong financial foundation, you’ll be much better equipped to manage your money. Here are some important finance facts that everyone should know. If you’re not sure what they are, check with your bank or financial institution. They may have a wealth of information about money.
You should know the average credit card rate. Credit card rates range from 0% to 50%. It’s better to know what you’re paying before you get into debt. The average credit card rate is 18.9%, but you can find lower rates. Compare the rates before making a decision. Then, be prepared to pay it off in full. You can also find out which cards offer lower interest rates so you can compare them before signing on.