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Financial Literacy: The Key to Building a Stronger Future with Hecofinance
Financial literacy is the ability to understand and manage personal finances effectively. It’s about knowing how to budget, save, invest, borrow wisely, and plan for the future. Without these skills, many people fall into cycles of debt, overspending, or missed opportunities for growth.
Why Financial Literacy Matters in Kenya
- High reliance on loans: Many individuals and businesses borrow without a clear repayment plan, leading to stress and debt traps.
- Limited saving culture: Despite mobile money making transactions easier, few people save consistently.
- Missed investment opportunities: Without knowledge, people shy away from investments that could grow their wealth.
Money is at the center of almost every decision we make — from paying school fees and rent to running a business or saving for retirement. Yet, many people struggle with financial planning simply because they’ve never been taught how money works. That’s where financial literacy comes in.
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