Smart money moves to secure the future

Financial literacy has become more essential than ever as economic opportunities expand and financial products become increasingly accessible. For Bangladeshis, financial literacy enables informed decisions regarding saving, spending, investing, and managing debt.

A strong foundation in financial basics helps individuals navigate key areas such as budgeting and daily expenses, fostering a healthier relationship with money. In Bangladesh, where reliance on informal borrowing and high-interest loans is prevalent, financial literacy can reduce dependence on costly debt, empowering people to make sound financial choices. This knowledge also allows individuals to recognise the importance of early saving and investing, leveraging options like savings certificates, mutual funds, and fixed deposits to build wealth and achieve long-term goals.

Beyond daily money management, financial literacy is essential for planning major life expenses such as education, homeownership, and retirement. Without an understanding of budgeting, saving, or investing, these goals can stay out of reach. However, informed financial decisions help secure the future, protect families against unforeseen crises, and reduce financial stress.

Syed Fahim Mannan

Student

North South University