The importance of financial education is globally acknowledged as a key component for the financial well-being of individuals as well as for the financial stability of a nation.
Nowadays, consumers are entering into a risky marketplace where they are \sconfronted with a wide array of financial products and services. The baffling choices in these products and the clever advertising often mystify the consumers to understand \ the fine print from the complex information and the downside risk associated therein.
The situation gets more complicated due to technological innovations that result in the \sexplosion of new products. This increases the responsibility and risk of households in \ making financial decisions. The need arises to equip financial consumers with \ basic financial knowledge and skills which enables them to navigate the complex \ range of products and services and select those that best suits their needs and resources.