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Financial Knowledge refers to a basic understanding of financial concepts and procedures whereas Financial Literacy adds to Financial Knowledge the skills, motivation, and confidence to

Financial Knowledge refers to a basic understanding of financial concepts and procedures whereas Financial Literacy adds to Financial Knowledge the skills, motivation, and confidence to apply such knowledge. Finally, Financial Capability connects financial literacy with:

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a) Financial Mathematics

b) Access to financial counseling

c) Financial awareness

d) Access to financial products and services

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