ECONOMIC EMPOWERMENT AND FINANCIAL LITERACY

Abstract

Economic empowerment equips individuals with education, employment opportunities, and financial resources while financial literacy teaches to apply financial knowledge to manage financial resources which empowered individuals possess. Researcher focuses on interrelationship between economic empowerment and financial literacy, and their role in improving individual and community well-being. This qualitative manuscript examines how financial literacy serves as a foundational stone in economic empowerment, allowing individuals to navigate economic challenges and seize good economic opportunities. Principles, scope, benefits of financial literacy and how it can reduce poverty, promote economic self-sufficiency, and foster long-term financial well-being are discussed. Researcher believes that integrating financial literacy education into policies and community programs is mandatory and economic empowerment and financial literacy are driving forces of social mobility and sustainable development.