Financial LiteracyBy Chris L.

What is financial literacy?

The president’s council of financial literacy said, “The ability to use knowledge and skills to manage financial resources effectively for a life time of financial well being.” (2008 Annual Report to the President)

www.pbs.org/wned/more/what_is_financial_literacy.php

What is financial literacy?

Personal financial literacy is more than just being able to balance a checkbook compare prices or get a job it also includes skills like long term vision and planning for the future and discipline to use those skills every day.

Am I financially literate?

On the five question only ten percent of Americans did better than me. I got four out of five right.

How do I compare with others?

On average individuals in the us answered 3.0 of the financial literacy question correctly. You can compare with the respect of others by the way you behave or if you have manners or not.

How does financial literacy in the U.S. compare with other countries?

“Other developing nations face the same problem of widespread financial illiteracy, if anything financial illiteracy is worse in other countries than the U.S.”

www.freakonomics.com/2008/07/21/are-we-a-nation-of-financial-illiterates/

Why should I become financially literate?

Understanding finances is a tool kit for life to increase your savings and enhance your wealth.

financialliteracycarbbean.com/why_be_financially_literate

Why should I become financially literate?

Having a better understanding of financial and banking products. You’ll be more prepared to pursue your financial goals, you’ll take control of your money , improve your savings skills , and be more prepared for unforeseen situations.

financialliteracycaribbean.com/why_be_financially_literate

Where to get information for financial literacy?

Television programming , books magazines , newsletters, blogs , and financial advisory institutions like banks , insurance companies , and brokerages.

Where to have fun while learning about financial literacy?

They’re lots of financial literacy games that helps with counting to handling money.

What to do if I want to promote financial literacy?

You can do a lot of things like having a meeting, going out in public, singing, and dancing.

What to do to become financial literate?

You can take courses at some banks or at school.

Who promotes financial literacy?

All kinds of groups , organizations, and museum exhibits.

Are there any big plans for financial literacy?

During financial literacy month credit unions across the country have a plan to help young people with there money management.

www.cutimes.com/2012/04/09/financial-literacy-month-dedicated-to-money-moxie

Are there any big programs for financial literacy?

Yes, you can find them here and more here.

Why is a business plan important?

Having a business plan will help you with what you’re going to do, how to do it, and a backup plan.

Who should write a business plan?

The owner of the business should write the business plan, but you can get help in the formatting process.

How do determine my start-up costs?

First you need to brainstorm everything you need, and then start calculating how much you need to pay.

How to determine my start up cost and other expenses?

To determine your startup costs, you must identify all the expenses that your business will incur during its startup phase. Some of these expenses will be one-time costs such as the fee for incorporating your business or price of a sign for your building. Some will be ongoing, such as the cost of utilities, inventory, insurance, etc.

Read more: here

Why is competition important?

Wiki answer.com says: Competition is important because without it there would be no markets. What would sports be like without competition, nothing and it is the same with the economy. Competition can be taken away with the use of monopolies, and this was evident in the early 20th century. Competition plays a necessary role in the economy around the world and keeps it going.

Why is competition important?

Competition is important because if some starts to win the someone else is going to do whatever it takes to come overtop, and it just like the cell phones companies rivalry

What makes a successful Marketing system?

The key is developing a marketing strategy that forms a solid foundation for your promotional efforts. Implementing promotional activities such as advertising, direct mail or even networking and one-to-one sales efforts without a marketing strategy is like buying curtains for a house you are building before you have an architectural plan. How would you even know how many curtains to buy or what size they needed to be?

What makes a successful marketing system

By just creating effective ads and by setting them at the right spot then that can catch the customer’s attention. There are also a lot of new technologies and a lot of opportunities for the marketers. You can advertise in the Internet or thru mobile phones including video marketing. Advertising your product is not easy that is why there are some advertising firms that can help you advertise your product through television, radio, newspaper or in any form of ads.

Where can I go to receive advice or assistance with my business

I could go to http://www.score.org/ and pay them to give me assistance.

Where can a business owner go to receive advice or assistance with their business?

bibliography

www.pbs.org/wned/more/what_is_financial_Literacy.php

www.freakonomics.com/2008/07/21/are-we-a-nation-of-financial-illiterates/

financialliteracycarbbean.com/why_be_financially_literate

www.moneycrashers.com/howto-increas-your-financial-literacy/

www.cutimes.com/2012/04/09/financial-literacy-month-dedicated-to-money-moxie

http://www.businessknowhow.com/marketing/blocks.htm

http://www.teamextension.com/content/good-marketing-system