Name: JOHN LESTER MOLINA STEM201A

1. Financial literacy affects the daily issues of an average household, like balancing a budget,
buying goods and commodities, funding their children's education, and saving enough
amount for retirement. Furthermore, financial literacy relates to a person's ability to grasp
financial concepts, products and services, and their capacity to manage personal financial
resources.
Answer:
Financial literacy has an impact on a typical household’s daily difficulties. Consequently, we
must be careful and aware of our financial resources in order to avoid jeopardizing our daily
expenses and future commitments.

2. Age influences the way a person invests. Because a person's savings and retirement funds
rise as he or she ages. It indicates that younger people's spending requirements outweigh
their income. Their essential needs are housing and education, and as a result, they have
minimal savings. In middle age, earnings tend to rise, allowing debts from earlier in life to be
paid off and savings. Finally, when people reach retirement age, their earnings begin to
decline, forcing them to rely on previously amassed assets.
Answer:
The way a person invests is influenced by their age, because as a person gets older, his or
her savings and retirement funds grow. Start investing now, while you’re still young, so that
when you’re older, you’ll have some money for your daily financial expenses.
3. Women are frequently seen as having poor financial literacy due to their lack of exposure to
a financial activity. On the other hand, males are more financially knowledgeable since they
are responsible for providing for their requirements. For example, financial literacy is linked
to gender, with women in many developed and developing nations having less financial
understanding than males. Young women, widows, women with less education and low
income have the highest financial awareness. According to available data on financial
attitudes, women are less confident in their financial knowledge and abilities, less
overconfident in financial affairs, and more averse to financial risk.
Answer:
Due to their lack of exposure to financial activities, women are typically perceived as having
inadequate financial literacy. Financial literacy is gender-based in many countries. Financial
awareness is highest among young women with less education, and low income. Women
are less confident in financial issues due to a lack of knowledge and skills, but they are more
averse to financial risks.